This 1934 Packard Twelve Convertible Victoria was among the top sellers at the Broad Arrow Academy of Art sale. Get all the latest automotive news in the Executive Briefing.
+ Stellantis is pausing operations at its Brampton, Ontario assembly plant while the company reviews its plans for the next-generation Jeep Compass SUV due in 2026. More at CBT News.
+ Volkswagen’s Audi unit and Mercedes-Benz will expand their output in North America as European carmakers try to shield themselves from President Trump’s tariff threats. More at MSN.
+ Continental AG is cutting around 3,000 research and development jobs at its automotive unit as the German parts maker prepares to spin off the struggling business. More at The Detroit News.
+ Joe Gibbs Racing was fined $100,000, docked 100 points, and crew chief James Small was suspended for four races for a modified spoiler on Chase Briscoe’s no. 19 Toyota. More at ESPN.
+ Kia has unveiled the PV5 electric van, based on the automaker’s Platform Beyond package, with plans underway to produce it in both commercial and passenger versions. More at Autoweek.
+ Local and state officials filed charges against 16 people allegedly connected to a fraud ring that targeted car accident victims in Los Angeles, holding their vehicles hostage. More at The Drive.
+ Tesla is recalling more than 376,000 Model 3 and Model Y vehicles from the 2023 model year to correct a defect that could cause a loss of assist in the electronic power steering. More at CBS News.
+ As anticipated, struggling electric truck maker Nikola has filed for Chapter 11 bankruptcy protection, reporting $47 million in cash and $1 billion to $10 billion in liabilities. More at Car and Driver.
+ The Broad Arrow Auctions sale of the Academy of Art University Collection in San Francisco recorded $14.5 million in total sales of 105 classic prewar and postwar vehicles. More at Old Cars.
+ Retired IndyCar driver and 2013 Indianapolis 500 champion Tony Kanaan has been promoted to Team Principal of the Arrow McLaren IndyCar team, where he last drove in 2023. More at Forbes.
Photo courtesy of Broad Arrow Auctions.
Review the previous MCG Executive Briefing from February 17 here.
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