With Chevy and Cadillac finding their groove, GM now has 15 percent of the EV market in the U.S. Get all the latest automotive news in the Executive Briefing.
Today’s Headlines:
+ Toyota, a pioneer in the category, is considering launching a compact pickup truck in the United States to compete in the growing market for smaller, more affordable utility vehicles. More at CBT News.
+ In what is described as a “watershed moment,” EV giant BYD of China sold more vehicles in Europe than Tesla in April, according to market researchers JATO Dynamics. More at Yahoo! News.
+ Mercedes-Benz announced it plans to establish its North American headquarters in the Atlanta area, while closing down its financial services center in Southeast Michigan. More at The Detroit News.
+ Following the IndyCar team’s second major technical violation in two years, Team Penske has released former president Tim Cindric, Ron Ruzewski, and Kyle Moyer. More at Fox Sports.
+ According to the EV Market Monitor report from Cox Automotive, General Motors is now the second largest seller of EVs in the United States with nearly 15 percent of the market. More at Electrek.
+ An unrestored 1970 Plymouth Superbird with just 33,000 miles that was purchased for $1.5 million in 2022 was sold for just $418,000 last week at the annual Mecum Indy auction. More at The Drive.
+ Stellantis announced it is bringing a Mopar parts distribution facility it calls a “megahub” with nearly 500 union jobs to Van Buren Township 20 miles west of Detroit. More at the Detroit Free Press.
+ The Insurance Institute for Highway Safety (IIHS) has published its list of the safest and most affordable cars for teenaged drivers, with categories for small, mid-sized, and large cars. More at Autoblog.
+ Ford is suing several California lawyers and law firms, accusing them of fraudulently inflating their legal fees under that state’s lemon law, citing one bill for a 57.5-hour day. More at World Auto Forum.
+ Although Red Bull Formula 1 driver Max Verstappen is currently 22 points behind series leader Ooscar Piastri, he says he in confident he is still in contention for the title. More at Racer.
Photo courtesy of General Motors.
Review the previous MCG Executive Briefing from May 19 here.
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Roger Penske has been stinking up the show bending the rules into a pretzel since before the Zerex Special days. Mark Donahue called it the unfair advantage. It was astonishing to learn Penske Racing’s latest shenanigans blatantly happened on pit road in front of God and everybody!
Prediction: 100 yellow flag laps for the 2025 Indy 500…
That’s quite a drop on the Superbird. Maybe the antique/collector-car market has finally topped out and prices will eventually return to more sane levels – levels where the average guy can actually afford to buy an antique or collector car.