The 2024 Chevy Silverado HD ZR2 will offer severe-duty suspension pieces, 35-inch tires, and special trim. Get all the latest auto industry news in the Executive Briefing.

Today’s headlines:

+   The average transaction price (ATP) for a new vehicle has fallen below manufacturer’s suggested retail prices (MSRP) for the first time in two years, according to Cox Automotive. More at Carscoops.

+   EV startup Lucid Motors reported first-quarter production and delivery figures that were significantly lower than the preceding quarter, completing 2,314 vehicles and delivering 1,406. More at Reuters.  

+   Sources say the 2025 Corvette SUV, based on the General Motors Alpha platform, will be offered with up to 682 hp of internal-combustion power to compete with the Porsche Cayenne. More at Car and Driver. 

+   Irish World Rally driver Craig Breen was killed when his factory Hyundai Motorsport entry crashed in a test session in preparation for a world championship event in Croatia, More at Associated Press.  

+   As predicted, the Environmental Protection Agency has proposed the strictest vehicle emissions standards yet, pushing the production of more zero-tailpipe emissions vehicles. More at National Public Radio. 

+   Ford is investing $1.3 billion to convert its Oakville Assembly Plant in Ontario, Canada, southwest of Toronto, to manufacture multiple electric vehicles and battery packs. More at The Detroit News.  

+   A 1967 Ferrari 275 GTB/4 by Scaglietti purchased new by Steve McQueen will be among the featured consignments at the RM Sotheby’s Monterey Auction on August 18-19. More at Old Cars. 

+   Chevrolet’s 2024 Silverado HD ZR2 will offer heavy-duty upper and lower control arms, 35-inch tires, special trim, a choice of gasoline and diesel engines, and availability this fall. More at The Drive. 

+   NASCAR Cup driver Cody Ware, son of team owner Rick Ware, was suspended indefinitely by NASCAR following his arrest for felony assault on a woman in North Carolina. More at CNN Sports.

+   Stellantis shareholders approved a $4.6 billion dividend distribution and gave their blessing to $24.8 million in compensation for CEO Carlos Tavares at their annual meeting. More at the Detroit Free Press. 

Photo courtesy of Chevrolet. 

Review the previous MCG Executive Briefing from April 10 here. 

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