MCG Executive Briefing for July 7, 2023

Sales of the Chevrolet Camaro jumped 110 percent as General Motors prepares to end production in January. Get all the latest auto industry news in the Executive Briefing.

 

Today’s headlines:

 General Motors posted a 19 percent increase in U.S. sales in the second quarter over the same period last year, along with a 9 percent increase to 526,000 vehicles in China. More at The Detroit News. 

+   Ford reported sales of 531,632 vehicles in the second quarter, an increase of nearly 10 percent driven by a 26 percent rise in truck sales, while EV sales slipped by 2.8 percent. More at CNBC. 

+   At Stellantis, U.S. sales rose 6 percent to 434,648 vehicles in the second quarter, pushed by strong sales of the Jeep Wranger and Jeep Grand Cherokee 4xe hybrids. More at the Detroit Free Press. 

+  The 2024 Formula 1 schedule will feature a record 24 events over a 10-month span, which series officials say is the maxium number feasible for its racing teams and personnel. More at the Guardian. 

+   Chinese battery maker CATL reports it has developed new materials for lithium-ion batteries that would sharply improve EV charging efficiency, especially in extreme cold. More at Reuters.

 Peter Horbury, the British-born Ford, Volvo, Chrysler, Geely, and Group Lotus designer who is most remembered for his reinvention of the Volvo look, has passed away at 73. More at Hemmings. 

+   European automakers are joining the herd of U.S. manufacturers that are adopting Tesla’s North American Charging Sytem (NACS) connector, led by Volvo and Polestar. More at Autoweek. 

+   Ford is raising prices on its hot-selling Maverick compact pickup for 2024, with the XL Hybrid getting a $2,305 boost and the Lariat Hybrid getting a $5,780 jump to $35,730. More at Autoblog.  

+   New Zealander Shane Can Gisbergen, suddenly a hot property in NASCAR after  his dominating street course win in Chicago, says he is committed to Australian Supercars in 2024. More at Speed Sport. 

 Sales of the Chevrolet Camaro spiked 110 percent to 9,557 cars in the second quarter as General Motors prepares to end production of the sixth-generation ponycar in January.. More at The Drive. 

Photo courtesy of Chevrolet. 

Review the previous MCG Executive Briefing from July 3 here. 

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