This rare 1947 Mercury woody station wagon with Marmon-Herrington 4WD brought $346,000 at the Worldwide Auctioneers Scottsdale sale. Get all the latest auto industry news in the Executive Briefing. 

Today’s Headlines:

+   General Motors announced that it intends to discontinue production of internal-combustion passenger vehicles by 2035 to focus entirely on zero-emissions vehicles. More at CNBC.

+   Toyota retook the top spot in global auto sales over Volkswagen in 2020 at 9.528 million units to VW’s 9.305 million, though both companies slipped due to COVID-19. More at Reuters. 

+   In tandem with Changan Ford, its joint venture partner, Ford will manufacture and sell a revised version of its Mustang Mach-E electric crossover in China. More at Reuters.

+   Ross Brawn, Formula 1’s managing director of motorsport, says he’s not giving up on his plans to experiment with the race weekend format, possibly with a qualifying race. More at Motorsport Week. 

+   Speed equipment maker Edelbrock, which was acquired by a private equity firm in February, is shutting down its Torrance, California facility, which employs 270 people. More at the Daily Breeze. 

+   Tesla Inc. unveiled its newly updated X and S models, including a new interior for the S featuring a yoke-type steering wheel and a Plaid+ version with 502 miles range. More at Car and Driver. 

+   Leaked dealership information indicates that the Cadillac CT4-V and CT5-V Blackwing will be available with six-speed manual or 10-speed automatic transmissions. More at The Drive. 

+   Daimler AG, maker of Mercedes-Benz cars and trucks, reported a far greater operating profit for 2020 than expected at $8 billion, a 52 percent increase over 2019. More at Autoblog. 

+   The Worldwide Auctioneers Scottsdale auction, conducted online by the Auburn, Indiana company, recorded $4.9 million in sales with a 93 percent sell-through rate. More at Classic Cars.com Journal.

+   American Auto, a situation comedy centered around the Detroit auto industry, is scheduled to debut this fall on NBC with Ana Gasteyer as the CEO of an auto company. More at Autoweek. 

+   Brad Kesolowski’s Penske Racing NASCAR Cup Ford will drop its Miller Lite sponsor signage in 2021 and feature Keystone Light, another Molson Coors brand. More at Racer. 

Photo courtesy of Worldwide Auctioneers. 

Review the previous Executive Briefing from January 25 here.

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