Hyundai has introduced the Ioniq V EV for China, but so far there are no plans for the United States. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Stellantis is shifting its focus to its four major brands—Jeep, Ram, Peugeot, and Fiat—and relegating less profitable brands to “selective investment” to regain momentum. More at MSN.
+ Driven by current tariff policy, Ford now now builds 83 percent of its U.S.-sold vehicles domestically, but is losing billions on import tariffs on materials and components. More at Autoblog.
+ The latest JD Power-GlobalData forecast shows that the 7.3 percent decline in sales in April is actually due to the buying rush triggered by last spring’s tariff uncertainties. More at CBT News.
+ Retired NASCAR Cup stars Clint Bowyer and Jamie McMurray will return to competition in the Truck series driving in one-offs for the Kaulig Racing Ram team. More at Fox Sports.
+ Porsche agreed to sell its 45 percent stake in Bugatti Rimac to a consortium led by HOF Capital, with BlueFive Capital as its largest investor, leaving Rimac in control of Bugatti. More at Yahoo! Finance.
+ Ponz Pandikuthira, senior VP and Chief planning officer for Nissan North America, says development of the next GT-R is currently held up by political uncertainty in the USA. More at The Drive.
+ Ford unveiled its latest Cobra Jet Mustang drag car, a 2,200-hp EV that ran a 6.832-second quarter-mile at more than 220 mph in its debut at Zmax Dragway in Charlotte. More at Competition Plus.
+ Sales and deliveries by Italian luxury sports carmaker Lamborghini in the Middle East are at a standstill due to the military conflict in the region, forcing dealership closures. More at World Auto Forum.
+ Hyundai introduced the Ioniq V EV with 373 miles of range and styling based on the Vision concept, but so far it’s only for China with no plans to bring it to the United States. More at Car and Driver.
+ Former Formula 1 driver and three-time Le Mans winner Allan McNish has become the racing director of the Audi Formula 1 team, expanding his motorsports remit for the company. More at Racer.
Photo courtesy of Hyundai.
Review the previous MCG Executive Briefing from April 24 here.
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