This 1927 Bugatti T35B is expected to bring $3 million or more at the Bonhams Monaco sale. Get all the latest auto industry news in the Executive Briefing.

Today’s Headlines: 

+   General Motors will produce an electric-hybrid Chevrolet Corvette next year, followed by an all-electric version of the sports car at a later date, says GM President Mark Reuss. More at CNBC.  

+   Ford posted a $3.1 billion net loss on revenue of $34.5 billion for the first quarter of 2022 as the company took a $5.4 billion loss on its $10.6 billion holding in Rivian stock. More at The Detroit News. 

+   U.S. new vehicle sales are expected to show a decline in April, as low inventories and rising interest rates boost prices against high demand, industry analysts predict.  More at Reuters. 

+   Next month’s Indianapolis 500 reportedly now has its 33rd entry, which is said to be a joint effort of the Cusick Motorsports and DragonSpeed teams with driver Stefan Wilson. More at Racer. 

+   Dodge CEO Tim Kuniskis says the brand hopes to unveil its first plug-in hybrid, the Hornet SUV, and an all-electric muscle car concept with the eMuscle badge in August. More at Car and Driver. 

+   Toyota has confirmed that the 2023 GR Supra due later this year will be available with a traditional six-speed manual transmission, but only the optional inline six engine. More at Autoblog. 

+   On net revenue of $36 billion for the first quarter of 2022, General Motors posted a net profit of $2.9 billion, nearly flat compared with $3 billion in the same period last year. More at the Detroit Free Press. 

+   Star consignments at the Bonhams Les Grandes Marques à Monaco sale on May 13 will include a pair of classic Grand Prix Bugattis, vintage Ferraris, and a 1956 AC Ace. More at Sports Car Digest. 

+   A survey by Cox Automotive determined that 75 percent of new car buyers don’t want to pay continuing subscription fees for features currently included at time of purchase. More at The Drive. 

+   The Mercedes Formula 1 team will introduce new pieces at the Miami Grand Prix to correct the porpoising that currently plagues its W13 racer, forcing excessive ride heights. More at Motorsport.com. 

Photo courtesy of Bonhams. 

Review the previous Executive Briefing from April 25 here.