Broad Arrow Auctions will host the Concorso d’Eleganza Villa d’Este sale starting in 2025. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Stellantis CEO Carlos Tavares has resigned, the troubled multinational automaker anounced, with the company to be led by an interim committee while a replacement is found. More at AP News.
+ A group of unhappy Honda owners has filed a class-action lawsuit alleging that the automaker’s white exterior paint is defective and prone to delamination, flaking, and bubbling. More at The Drive.
+ “We have 12 or 14 months to survive,” a senior official close to Nissan said, as the Japanese automaker seeks an anchor investor to survive through the make-or-break period. More at Motor Authority.
+ Mario Andretti has been appointed to the board of directors of General Motors’ new Cadillac Formula 1 team in association with TWG Global, owner of Andretti Global. More at Motorsport.com.
+ A new federal regulation requiring automatic emergency braking systems in all new consumer vehicles by 2029 will remain in place despite complaints from the auto industry. More at The Detroit News.
+ According to a report from the Wall Street Journal, Tesla’s new gigafactory in Austin, Texas was a gross polluter of air and water while Model Y production was ramping up. More at Motor Trend.
+ Mergers and acquisitions among new car dealerships are picking up steam in 2024, even as dealership profit margins return to normal and valuations continue to soften. More at CBT News.
+ Broad Arrow Auctions, a Hagerty company, will partner with BMW AG to host the auction at the Concorso d’Eleganza Villa d’Este on Lake Como in Italy starting in May 2025. More at Old Cars.
+ The third-generation Nissan Leaf EV is set to debut in the fall of 2025 with crossover SUV packaging and the motor, inverter, and gear reduction unit integrated in a single module. More at Motor Illustrated.
+ NASCAR announced that The Clash, its exhibition race at Bowman-Gray Stadium in Winston-Salem, North Carolina to open the 2025 Cup season, is already sold out. More at WUNC North Carolina Public Radio.
Photo courtesy of BMW AG.
Review the previous MCG Executive Briefing from November 29 here.
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Odd that the Cadillac F1 deal went through shortly after Michael Andretti was deposed from his company. Even odder than his father was appointed to the board & not him. Somebody up there doesn’t like you. He’s a complainer, but so is everyone else in F1.
At this point we may as well kill the Chrysler marque. It’s not worthy of the heritage. Resurrect Plymouth, give them the Hornet, future Darts, the ICE Challenger (Barracuda), and the Voyager. Give the Pacifica to Dodge and keep the Charger and EV Challenger.
Nissan is not the company I knew from the ’60s and early ’70s. I won’t miss them. Strange that both Chrysler & Nissan are propped up by French automakers, neither of which were successful in the USA.
Is AEB just another think-tank brainfart right out of NHTSA R&D?
1/100 of the expenditure used instead for driver training would deliver an order of magnitude more ROI…
AEB will be a necessity anyway. Autonomous cars are an inevitability and they need the technology to function. The need for autonomous cars is because people in the USA don’t want to learn to drive and no one wants to teach them. I suppose it could be a liability issue if someone has an accident and sues their teacher for insufficient guidance.
Except for the rich, we will be assigned to autonomous electric car-trains from a centralized trolley barn that we subscribe to like Netflix. Hopefully that future won’t fully happen until I can no longer drive myself.
Agreed, the trackless trolley future planned for us controlled entirely by low- bid code writers, government bureaucrat’s opinions and special interest’s arm waving is a bleak one indeed…