At $2.55 million, this 1937 Mercedes-Benz 540K was the top seller at the inaugural RM Sotheby’s Essen, Germany sale. Get all the latest auto industry news in the Executive Briefing.

Today’s Headlines:

+   Volkswagen has unveiled an electric three-row SUV for the China market in 2021,  called the ID-ROOMZZ and designed to compete head-to-head with the Tesla X. More at Reuters. 

+    Former Nissan executive Jose Munoz, who resigned in January, is in negotiations to take a key leadership position at Hyundai that would include the top post in the USA. More at Automotive News Europe.

+    Talks between General Motors and Michigan-based electric truck maker Rivian Automotive have stalled out, with Rivian reportedly keen to keep its options open. More at Fortune. 

+   Eight cars failed pre-race inspection at the NASCAR Monster Cup event in Richmond for various infractions and were sent to the rear of the starting field. More at ESPN. 

+   Ford has trademarked the terms “Mach E,” “Mach-E,” and “Mustang Mach E,” presumably for the Mustang-inspired electric crossover due to appear in 2021. More at The Detroit News. 

+  Nissan has unveiled an updated 2020 Versa subcompact sedan with more power, additional standard safety features, and upgraded interior appointments. More at Autoblog. 

+   According to Werner Tietz, Bentley’s head of engineering, the automaker’s next luxury SUV could be even larger than the current 202-inches-long Bentayga. More at Motor Trend. 

+   The inaugural RM Sotheby’s Essen sale, staged in conjunction with the Techno Classica car show, produced $21.1 million in sales with an 86 percent sell-through rate. More at Classic Cars.com Journal.

+   Galpin Auto Sports, an affiliate of Galpin Ford in North Hills, California, is offering a Raptor-themed Ranger pickup (not offered by Ford in the USA) called the Ranger X. More at The Drive. 

+   McLaren Formula 1 chief executive Zak Brown says the team fully intends to compete full-time in the IndyCar Series beginning in 2020 or 2021. More at Motorsport.com.

Review the previous Executive Briefing from April 11 here.

Photo courtesy and copyright RM Sotheby’s.

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