Volkswagen has announced pricing for the 2023 ID.4 electric crossover, including a reduced-cost model that lists for $38,790. Get all the latest auto industry news in the Executive Briefing. 

Today’s headlines: 

+   At Toyota, profits tumbled a worse-than-expected 42 percent in the first quarter as the Japanese automaker was squeezed between supply constraints and rising costs. More at Reuters. 

+   EV maker Lucid Group slashed its production forecast for 2022 in half, blaming supply chain and logistics problems and sending the share price down 10 percent. More at World Auto Forum. 

+   Many midsized sedans and wagons are failing the new side-impact crash test designed by the Insurance Institute for Highway Safety (IIHS) to replicate collisions with SUVs. More at Autoblog.

+   IndyCar’s silly season shifted into high gear on reports that driver Felix Rosenqvist may not have a signed deal beyond this year with his current team, Arrow McLaren SP. More at Racer. 

+   Spy photographers have captured images of a camouflaged prototype for Cadillac’s upcoming electric compact crossover, which is expected to hit showrooms in 2024. More at Car and Driver. 

+   The Nissan Maxima sedan, once marketed as “the four-door sports car,” will be discontinued after 2023, but it could return in some form with an electric powertrain. More at Motor Trend.  

+   Ford reported an impressive gain in U.S. sales for the month of July, as volume rose 36.6 percent over July of last year and 7.7 percent over the previous month this year. More at CNBC. 

+   Volkswagen has announced pricing for the 2023 ID.4 electric crossover, including an economy model with a smaller 62-kWh battery and 208 miles of range that lists at $38,790. More at Electrek. 

+   NASCAR Cup driver Kurt Busch will miss his third consecutive race with concussion-like symptoms as rookie Ty Gibbs again fills in for this weekend’s race at Michigan. More at Sporting News. 

+   After pleading guilty in June, Stellantis now faces up to $300 million in fines and three employees could face criminal charges for circumventing diesel emissions standards. More at Autoweek. 

Photo courtesy of Volkswagen. 

Review the previous Executive Briefing from August 1 here.