Penske Racing has been hit with heavy fines and suspensions following last weekend’s rear axle controversy at Texas. Read this car biz news and more in today’s Executive Briefing. Ford Photo © 2013 Michael Levitt, AutoStock USA
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+ AutoNation reported stronger than expected earnings for the first quarter of 2013 and announced plans to acquire three more dealerships. More here at Fox Business.
+ Nissan is studying the addition of a second plant in America for its Infiniti brand. More here at Auto123.com
+ The state of Kentucky has offered Toyota $146.5 million in tax breaks to expand its manufacturing operations there. More here at Bloomberg.com.
+ Airbag maker Takata Corporation will book a $307 million loss following a global recall of 3.4 million Takata-equipped vehicles, with further losses expected. More here at Left Lane News.
+ The 2014 Chevrolet Cruze diesel will be rated at 46 mpg highway, the best non-hybrid mileage in the USA. More here at The Detroit Bureau.
+ NASCAR has struck Penske Racing with major fines, points penalties, and suspensions after alleged rear axle improprieties were discovered at Texas last week. More here at Sporting News.
+ Mercedes-Benz is teasing photos of its GLA compact crossover concept in advance of the Shanghai Auto Show. More here at Autoblog.
+ Speaking to the SAE World Congress, former GM product czar Bob Lutz said that the EPA’s 2025 fuel economy requirements will add $5,000 to the price of a new vehicle. More here at The Detroit News.
For the previous Executive Briefing from April 14, click here.