Dissolved in 2021, the SRT performance division is back in business at Stellantis. Get all the latest automotive news in the Executive Briefing.
Today’s Headlines:
+ Nearly 20 percent of U.S. new vehicle buyers in the second quarter signed on for monthly payments of $1,000 or more, while the average payment is now $756 per month. More at the Detroit Free Press.
+ Tesla reported a littlle more than 384,000 vehicle deliveries in the second quarter, a 14 percent decline from a year ago and second straight quarterly decline for the EV maker. More at CNBC.
+ Deliveries began in China this week on the highly antificipated Xiaomi YU7 electric crossover, with the company reporting 300,000 locked-in orders and a 62-week backlog. More at CarNewsChina.
+ Jonathan Diuguid and Travis Law will add to their roles at Penske Porsche Motorsport as Diuguid becomes president Of Penske Racing and Law heads the IndyCar team. More at Sportscar365.
+ Car buyer satisfaction dropped sharply in June, marking the largest monthly decline recorded by CDK Global since it began tracking purchase experiences three years ago. More at CBT News.
+ Nissan is in discussions with Foxconn about a collaboration to produce electric vehicles for the Taiwanese manufacturer that could save its Oppama plant in Japan from closure. More at MSN News.
+ Ducati continues in its quest to lure buyers away from the big-twin bike makers including Harley-Davidson and Indian with a refined XDiavel powered by a 168-hp V4. More at Autoweek.
+ Ram boss Tim Kuniskis, now in charge of North American operations at Stellantis, plans to reboot the SRT (Street and Racing Technology) division dissolved in 2021. More at The Drive.
+ Renault will book a one-time loss of around $11 billion on its stake in Nissan Motor, the French carmaker announced, writing down its years-long investment in its Japanese partner. More at World Auto Forum.
+ Lando Norris of McLaren took his first home victory in a wet and chaotic British Grand Prix when his teammate Oscar Piastri was penalized 10 seconds for erratic driving. More at BBC Sport.
Photo courtesy of Stellantis.
Review the previous MCG Executive Briefing from July 4 here.
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