Vietnamese EV maker Vinfast will bring its $20,000 VF3 to the USA in 2026. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ According to Cox Automotive, new vehicle inventories fell while used vehicle inventories rose in December of 2023, as demand continues to fluctuate at the dealer level. More at CBT News.
+ Stellantis has released more details about its new STLA Large platform, which is expected to underpin the 2025 Dodge Charger and Jeep Wagoneer S EV due later this year. More at Car and Driver. .
+ Ford announced it will reduce production of its F-150 Lightning to a single shift at the Michigan Rouge Electric Vehicle Center as demand has softened for the electric pickup. More at Reuters.
+ Driving a Cadillac V-Series.R, Brazilian Pipo Derani of Action Express Racing smashed the track record to claim the pole for next weekend’s Rolex 24 Hours of Daytona. More at Motorsport.com.
+ Tesla has trimmed prices for its best-selling Model Y crossover across Europe, not long after announcing similar price cuts for its Model 3 and Model Y vehicles in China. More at CNBC.
+ The GMC division of General Motors announced that it is expanding into China in 2024 and Australia and New Zealand in 2025, starting with the launch of the Yukon full-size SUV. More at The Detroit News.
+ The bulletnose 1951 Studebaker Commander driven by Fozzie Bear in The Muppet Movie is undergoing a complete restoration by the Studebaker National Museum and Razorfly Studios. More at The Drive.
+ Vietnamese automaker Vinfast is making plans to introdcuce the VF3, its $20,000 compact EV with 125 miles of range, to the North American market sometime in 2026. More at Autoblog.
+ In Charlotte, Jimmie Johnson, Donnie Allison, Chad Knaus, Janet Guthrie, and Shav Glick were formally inducted into the 2024 class of the NASCAR Hall of Fame. More at the Charlotte Observer.
+ As it expands the G series SUVs into a sub-brand similar to AMG, Mercedes-Benz is planning a smaller version of the G-Class that will be offered only as a battery-electric. More at Motor Illustrated.
Photo courtesy of Vinfast.
Review the previous MCG Executive Briefing from January 19 here.
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Ford is seeing what most of the rest of us have known for a long time, the market for EV’s isn’t there yet. Maybe in time, but not overnight. The first adopters have pretty much all bought what they want and the rest of the market isn’t convinced yet.