A 1979 Porsche 928 driven by Tom Cruise in the movie Risky Business is expected to bring up to $1.8 million at auction. Get all the latest auto industry news in the Executive Briefing.

Today’s headlines:

+   U.S. automaker Tesla’s sales of China-made electric vehicles rose 15.3 percent from a year earlier to 74,117 units in July, according to the China Passenger Car Association. More at Reuters. 

+   General Motors is overhauling its performance evaluation system for U.S. salaried employees to award achievers and pressure underperformers to either improve or leave. More at CBT News. 

+   Uber and BYD revealed plans for the leading ride-hailing company to offer some 100,000 EVs produced by the Chinese automaker to its drivers in a number of regions. More at Autoweek. 

+   Two-time Indy 500 winner Juan Pablo Montoya will return to NASCAR for the first time since 2014 when he races for 23XI Racing at Watkins Glen International next month. More at ESPN. 

+   U.S. auto safety regulators say they stand by a conclusion that more than 50 million air bag inflators are dangerous and should not be in use moving closer to a massive recall. More at The Detroit News. 

+  The Northern Territory Police, Fire and Emergency Services (NTPFES) in Australia has added 13 Subaru WRXs with all-wheel drive and 155 mph pursuit capability to its fleet. More at The Drive.

+   For 2025, the Chevrolet Corvette coupe and convertible will start at $69,995 and $76,995, respectively, holding the base price of the coupe under $70,000 for another year. More at Car and Driver. 

+   One of three gold 1979 Porsche 928 used in Risky Business, the 1983 teen coming-of-age movie starring Tom Cruise, will be offered at the Bonhams|Cars Quail Lodge auction in August. More at Autoblog. 

+   Global auto assembler and supplier Magna International missed analysts’ estimates for second-quarter results, hurt by production stoppages and lower manufacturing volume. More at World Auto Forum. 

+   Francois Dumontier, the CEO and president of Canadian Grand Prix promoter Octane Racing Group, will step down from his role after 30 years of organizing the race. More at Racer. 

Photo courtesy of Bonhams|Cars. 

Review the previous MCG Executive Briefing from August 2 here.

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