Automakers expect increased sales of gasoline-electric hybrids, which could represent 24 percent of the market by 2028. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ New vehicle sales results in the USA are expected to rise in August, boosted by improved supply and strong demand, according to a joint report by JD Power and CloudData. More at Reuters.
+ General Motors is shutting down the IT operation at its Chandler, Arizona Innovation Center by the end of this year, affecting around 940 salaried positions, the company announced. More at The Detroit News.
+ In Emden, Germany, Volkswagen officially launched production of its ID.7 mid-size electric sedan, which is intended to compete directly with the industry-leading Tesla 3. More at Autoweek.
+ Legendary drag racer Ohio George Montgomery, one of the sport’s early innovators and the owner of the nation’s oldest continuously operating speed shop, has passed away at 90. More at NHRA.com.
+ Production of the next-generation Nissan Kicks compact SUV has been postponed again, this time by the theft of special manufacturing tooling from the supplier’s factory in Mexico. More at The Drive.
+ Insiders say the Rio, Kia’s entry-level sedan, will be discontinued in 2024, leaving the U.S. new car market with only one sedan in the under-$20,000 category, the Nissan Versa. More at Car and Driver.
+ NASCAR truck series team GMS Racing will close at the end of this season as founder Maury Gallagher focuses on his co-ownership of the Legacy Motor Club NASCAR Cup team. More at Autoweek.
+ Ferrari CEO Benedetto Vigna says the Italian luxury brand now has a three-year waiting list for new cars and that 30 percent of its new customers are under the age of 40. More at CNBC.
+ Automakers including Ford and Toyota expect increasing demand for hybrid gasoline-electric vehicles, which analysts say could represent 24 percent of the market by 2028. More at Autoblog.
+ Haas Formula 1 will retain drivers Kevin Magnussen and Nico Hulkenberg for the 2024 season, with their partnership at the American operation continuing for a second year. More at Motorsport.com.
+ On September 4, Audi plans to debut the updated 2024 Q8 mid-size SUV with OLED lighting technology, which is likely to be the final Q8 with an internal-combustion engine. More at Motor Authority.
+ Mickey Rupp, a pioneering manufacturer of go-karts and minibikes who qualified for and drove in the 1965 Indianapolis 500 and later became a marine supplier, has passed away at 87. More at Racer.
Photo courtesy of Ford.
Review the previous MCG Executive Briefing from August 21 here.
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Hybrids are a good solution for single car households. Electric for daily commuting, gasoline for occasional trips.
Gasoline is a good solution also. Been used for over 100 years so they have the bugs worked out.
All but that one nasty hiccup of not being able to breathe with what comes out the back end.
But that’s behind you, right? Don’t look in the mirror and you can’t see the smog building behind you, right? You care about as much as the guy in front of you, gassing you.
Why do so many people want to get dragged back into the late 50s and through the 60s? That’s when we were ruining a lots of thing that we are paying for today. We learn. We progress. We correct. . . At least some of us try to. Some of us growing up in that time tried to warn people, but who listens to “hippies.”