MCG Executive Briefing for January 3, 2025

While other carmakers stuggled in the U.S. in 2024, Mazda recorded its best year since 1986. Get all the latest auto industry news in the Executive Briefing.

 

Today’s headlines: 

 +   Tesla reported the first full-year drop in sales in its history as a public company in 2024, and while the decline was only 1.1 percent, sales were far below earlier projections. More at CNN. 

 Ford is recalling nearly 300,000 diesel-powered Super Duty trucks from 2020-2022 because regulators determined that the high-pressure fuel pump may prematurely fail. More at Autoweek. 

 BYD of China set a new sales milestone in December, selling 514,809 electric and hybrid vehicles, marking its third consecutive month of sales surpassing 500,000 units. More at CBT News. 

+   Officials at the IndyCar Series are studying a switch from magnesium to otherwise similar aluminum wheels in 2026, due to supply chain issues with vendor O.Z. Racing. More at Racer. 

 Hindenburg Research, the short-selling investment firm that exposed financial problems at Nikola and Lordstown Motors, is now taking aim at used-car retailer Carvana. More at The Drive. 

+   Sandor Piszar, vice president of General Motors’ Envolve unit, which services the automaker’s fleet customers, is retiring after more than three decades with the company. More at The Detroit News. 

 Electric cars accounted for 89 percent of the new cars sold in Norway last year as car buyers took advantage of significant government tax and toll incentives for EVs. More at Yahoo! Finance. 

 While other automakers struggled in the U.S. market in 2024, Mazda recorded its best year since 1986 with more than 420,000 vehicles sold, a 16 percent increase over 2023. More at Autoblog. 

 The editors of the Detroit Free Press named their annual car, truck and utility vehicles of the year, respectively: the Toyota Camry, Toyota Tacoma, and Chevrolet Equinox EV. More at the Detroit Free Press. 

+   Front Row Motorsports will field a third full-time NASCAR Cup entry in 2025 for driver Zane Smith, racing under a charter acquired from defunct Stewart-Haas Racing. More at Newsweek. 

Photo courtesy of Stellantis. 

Review the previous MCG Executive Briefing from December 27 here. 

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