Tesla has once again slashed prices as it takes aim at its production goal of 1.8 million vehicles in 2023. Get all the latest auto industry news in the Executive Briefing.

Today’s headlines:

+   Toyota announced it will introduce 10 new battery-electric vehicles and has set a sales target of 1.5 million EVs a year by 2026, a 25 percent increase over its previous projection. More at Reuters. 

+   General Motors’ Cruise autonomous vehicle unit has recalled 300 of its robotaxis to update their software after one of them rear-ended a municipal bus in San Francisco. More at The Detroit News. 

+   According to data from TrueCar, the average transaction price for a new vehicle rose 5.6 percent in the past year to $45,397, and 72 and 84-month payment schedules are the new normal. More at Autoweek. 

+   NASCAR introduced a new procedure at Bristol this past weekend in which an aerial drone is used to indicate to drivers where to choose the inner or outer lane on restarts. More at USA Today Sports. 

+   Renowned chassis builder Melvin “Jerry” Bickel of Missouri, who built winning race cars for drag racing stars Jim Yates, Rickie Smith, and others, has passed away at 75. More at Drag Illustrated.

+   Lamborghini has no plans to produce a V6 in response to tighter emissions regulations but will develop more EVs and hybrids, according to chief technical officer Rouven Mohr. More at The Drive. 

+   According to an investigation published by Streetblogs USA, a vast black market for  fraudulent temporary license plates has arisen, especially in New York and New Jersey. More at Autoblog.

+   Tesla has slashed prices once again on all its models by as much as $5,000 to boost volume as the EV manufacturer takes aim at its production goal of 1.8 million vehicles in 2023. More at CNBC. 

+  Spy photographers have captured images and video of a prototype for the next generation of Volkswagen’s Tiguan compact crossover, which is expected to include  an EV model. More at Motor Authority.

+   Used electric vehicle sales in the United States rose 32 percent in the first three months of 2023 as prices fell four percent, according to data from Cox Automotive. More at U.S. News and World Report. 

+   Formula 1 teams have agreed to an updated sprint format that features two races per weekend from Azerbaijan forward, with the Saturday races run as standalone events. More at Racer.

Photo courtesy of Tesla. 

Review the previous MCG Executive Briefing from April 7 here. 

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