To wide acclaim, Toyota has rolled out the 2023 GR Corolla hot hatchback with 300 hp and all-wheel drive. Get all the latest auto industry news in the Executive Briefing.

Today’s Headlines: 

+   As expected, U.S. automakers reported a slump in first-quarter domestic sales as the entire industry was slammed by chip shortages and supply chain disruptions. More at Reuters. 

+  Under the latest standards finalized by federal regulators, automakers will be required to increase the fuel economy of 2026 model year vehicles to an average of 40 mpg. More at The Detroit News. 

+   Tesla delivered 310,048 vehicles in the first quarter of 2022 compared to 184,800 units for the same period last year, with the Model 3 and Model Y chalking up 95 percent of the sales. More at CNBC. 

+   McLaren Formula 1 chief executive Zak Brown has warned officials of the Monaco Grand Prix that it must improve its facilities to maintain its place on the calendar. More at the UK Express. 

+   RV maker Winnebago is reporting a 38.7 increase in sales and a 38.3 percent increase in gross profit for the most recent quarter, along with a $4.3 billion backlog in orders. More at The Drive. 

+   Organizers of the 2022 Beijing Auto Show, scheduled to be held in late April, have postponed the event indefinitely due to the COVID-19 resurgence across China. More at Autoblog. 

+   To wide acclaim, Toyota rolled out the 2023 GR Corolla hot hatchback with a three-cylinder turbo boasting 300 hp, all-wheel drive, and a six-speed manual transmission. More at Car and Driver. 

+  General Motors is recalling nearly 682,000 Chevrolet Equinox and GMC Terrain SUVs from the 2014 and 2015 model years to correct a defect in the windshield wipers. More at the Detroit Free Press. 

+   Motor Trend magazine has compiled a list of the safest SUVs on sale in the USA in 2022, all of which carry IIHS Top Safety Pick+ and five-star ratings from the NHTSA. More at Motor Trend. 

+   Kelley Earnhardt Miller, co-owner of JR Motorsports with her brother Dale Earnhardt Jr., says the team continues to study its options for moving up to the NASCAR Cup series. More at NBC Sports. 

Photo courtesy and copyright of Toyota. 

Review the previous Executive Briefing from April 1 here.