This 1948 Ferrari 166 brought $8.56 million at the Broad Arrow Villa D’Este sale. Get all the latest automotive news in the Executive Briefing.
Today’s Headlines:
+ U.S. automakers including Tesla must build their entire vehicles and all their parts in the USA instead of manufacturing parts abroad, President Donald Trump declared. More at Yahoo! Finance.
+ Ford executive chair Bill Ford warned that a planned $3.5 billion EV battery plant in Marshall, Michigan, is at risk if Congress eliminates tax credits for clean energy manufacturing. More at CBT News.
+ In a legal battle stretching back decades, a U.S. Court of Appeals has ruled that the Eleanor Mustang from the Gone in 60 Seconds movie franchise cannot be copyrighted. More at Car and Driver.
+ The Jeep unit at Stellantis revealed the first details and image of its new Cherokee SUV, including a hybrid option, which the company expects to assist in the brand’s turnaround. More at CNBC.
+ Insiders say Tesla is planning to launch its Robotaxi self-driving taxi service, a pet project of CEO Elon Musk, as a demonstration program on June 12 in Austin, Texas. More at The Detroit News.
+ After a series of controversies involving Team Penske, the Penske-owned IndyCar Series intends to create an independent officiating board to start in time for the 2026 season. More at Racer.
+ Toyota is said to have an eighth-generation Celica coupe in development, possibly with an an ICE drivetrain, nearly 20 years after the previous Celica went out of production. More at Motor Trend.
+ Broad Arrow Auctions’ inaugural Concorso d’Eleganza Villa d’Este sale reported $35.3 million in sales, led by a 1948 Ferrari 166 Spyder Corsa that brought $8.56 million. More at Old Cars.
+ Porsche will set up a China research and development center in Shanghai’s Jiading district with the goal of creating an infotainment system designed for Chinese users. More at World Auto Forum.
+ Kaulig Racing has confirmed that NASCAR and open-wheel veteran A.J. Allmendiger, 43, will drive full time in the NASCAR Cup series for the team in 2026. More at Sportskeeda.
Photo courtesy of Broad Arrow Auctions.
Review the previous MCG Executive Briefing from May 30 here.
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