Consumer Reports has named its 10 worst automotive values for 2013, with the Nissan Armada luxury SUV ranked worst of all. Get all the latest auto industry news in the Executive Briefing.
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+ Hyundai and Kia have agreed to pay up to $395 million in settlements over exaggerated fuel economy claims on 2011-2013 vehicles. More at NBC News.
+ The Volkswagen Group has sold 100,000 TDI turbodiesels in the USA in 2013, among 12 Volkswagen and Audi models. More at Motor Trend.
+ The IndyCar Series has filed suit against the promoter of its Sao Paulo, Brazil race, seeking to recover a seven-figure sanctioning fee. More at Indianapolis Business Journal.
+ Shares of Tesla Motors jumped after the 5-star safety rating of the Model S sedan was reaffirmed. More at the Detroit Free Press.
+ Auto parts maker Tomkins plc has filed for an initial public offering under the name Gates Global Inc. More at Reuters.
+ Ferrari president Luca di Montezemolo has slammed Formula 1’s reliance on simulators as “a joke,” calling for a return to live vehicle testing. More at Yahoo! Sport UK.
+ Consumer Reports has named its 10 worst values in new vehicles for 2013, with the Nissan Armada rated at the bottom in cost per mile. More at The Detroit Bureau.
+ Volkswagen is poised to take over the top spot in sales in China over General Motors for the first time in nine years. More at Bloomberg.com.
+ Frankie Stoddard’s FAS Lane Racing and Go Green Racing have teamed up for the 2014 NASCAR Sprint Cup Series season, where they will race a no. 32 Ford Fusion with driver Terry Labonte. More at National Speed Sport News.
For the previous Executive Briefing from December 23, click here.