A private bidder paid $700,000 for the final 1,025-hp Dodge Demon 170 that will roll off the assembly line. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Volkswagen is in talks with Tesla to adopt its North American Charging Standard (NACS) where it would join a stampede of automakers and charging networks switching to the system. More at Reuters.
+ Toyota reported that its global output in May soared 35 percent over the same month last year to 947,874 vehicles as pandemic-related disruptions eased, while sales rose 11 percent. More at The Detroit News.
+ Chevrolet says pricing for the 2024 Silverado electric pickup in base trim will start at $50,000 (plus $1,895 destination fee) rather than the $40,000 the automaker previously announced. More at Autoblog.
+ IMSA officials denied an appeal by Porsche Penske Motorsport following its disqualification at Watkins Glen, affirming the victory of Connor De Phillippi and Nick Yelloly in a BMW. More at Sportscar365.
+ Volkswagen has appointed strategy chief Gernot Doellner to replace Markus Duesmann as CEO of the Audi division, in what has been called a major leadership shakeup. More at Yahoo! News.
+ Italian lawmakers are moving forward with a proposal to prohibit drivers with less than three years experience from operating vehicles of more than 70 kilowatts (95 horsepower). More at The Drive.
+ As many observers expected, troubled EV maker Lordstown Motors has filed for chapter 11 bankruptcy protection and put up its assets for sale, including its truck design. More at Car and Driver.
+ An anonymous biddder paid $700,000 in a Barrett-Jackson charity auction to acquire the very last 1,025-horsepower 2023 Dodge SRT Demon 170 when it rolls off the line. More at Hemmings.
+ Top executives at Stellantis either sold or signaled their intent to sell shares valued at more than $22.5 million in recent months, which the company attributes to tax obligations. More at the Detroit Free Press.
+ NASCAR Cup driver Jimmie Johnson withdrew from this week’s Chicago race following the deaths of three family members, which police are investigating as a murder-suicide. More at NBC Sports.
Photo courtesy of Dodge.
Review the previous MCG Executive Briefing from June 26 here.
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Sounds like the Stellantis execs have seen the writing on the wall, and know now is the time to get out before the bottom drops out with all the electric junk replacing ICE vehicles. Stellantis and GM will be just a memory in a few years if they stay on this same path. The companies with balanced offerings of EV and ICE will be the only ones to survive.