This 1948 Ferrari 166 Spyder Corsa will headline the Broad Arrow Concorso d’Eleganza Villa d’Este sale. Get all the latest auto industry news in the Executive Briefing.
+ EV startup Canoo has filed for bankruptcy and will “cease operations immediately,” preparting to liquidate its assets in a Chapter 7 proceeding in the Delaware Bankruptcy Court. More at TechCrunch.
+ Kia is recalling around 74,000 Sorento SUVs from model years 2024-25 to correct a software problem that can cause a temporary loss of power to the headlights and taillights. More at Car and Driver.
+ Electric vehicle maker BYD of China is currently outselling Toyota Motor, the world’s largest automaker, in the EV category in Toyota’s native Japan, though by a small margin. More at Autoblog.
+ Two-time IndyCar Series champion Josef Newgarden is calling for a lighter-weight chassis when the current-generation race cars are replaced with a new formula in 2027. More at Motorsport.
+ The U.S. Equal Employment Opportunity Commission is suing General Motors and the United Auto Workers for age discrimation and Stellantis for allowing sexual harrassment. More at World Auto Forum.
+ In the United Kingdom, where the vehicle is not legal for road use due to its size, a foreign-registered Tesla Cybertruck was impounded by Greater Manchester Police. More at Sky News.
+ The 1954 Mercedes-Benz W196 raced by Fangio and Moss and owned by the Indianapolis Motor Speedway is expected to fetch more than $50 million at auction Feb. 1. More at Motor Authority.
+ The Federal Trade Commission has reached a landmark deal with General Motors prohibiting the automaker from sharing customer location and driving data for five years. More at CBT News.
+ A 1948 Ferrari 166 Spyder Corsa bearing chassis no. 004C, in the same family for 50 years, will be the headliner at the Broad Arrow Concorso d’Eleganza Villa d’Este sale. More at Old Cars.
+ NASCAR Cup star Kyle Larson led all 40 laps from the pole to win the Chili Bowl Nationals at Tulsa Expo Speedway, his third victory in the premier dirt midget racing event. More at Speed Sport.
Photo courtesy of Broad Arrow Auctions.
Review the previous MCG Executive Briefing from January 17 here.
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Chinese EV makers are booming while U.S. EV makers are failing. This can’t be good.