Corvette engineers are reportedly planning to break the Mustang GTD’s track record at the Nürburgring. Get all the latest automotive news in the Executive Briefing.

Today’s Headlines: 

+   After five years at the post, Luca de Meo will step down as chief executive of Renault to head the Kering group, owner of the Gucci and Saint Laurent French luxury brands. More at Financial Times. 

+   The automakers’ captive lenders are losing market share as banks, credit unions, and finance companies grow more competitive, according to an Experian Automotive study. More at CBT News. 

+   Vehicles with keyless entry systems are becoming more vulnerable to technically savvy car thieves, who exploit their out-of-date circuitry and lack of dynamic encryption. More at Autoblog. 

+   McLaren driver Lando Norris apologized for contact with teammate Oscar Piastri at the Canadian Grand Prix, which team boss Andrea Stella says will make the team stronger. More at Motorsport Week. 

+   The Swedish pension fund AP7 announced that it has blacklisted and sold its entire $1.3 billion share in U.S. EV maker Tesla, citing labor violations in its American plants. More at World Auto Forum. 

+   After Ford’s Explorer SUV plant in Chicago was idled for a week due to a shortage of rare earth minerals from China, CEO Jim Farley said the company’s supply is “day to day.” More at The Detroit News. 

+   Marelli, a Tier 1 automotive parts supplier to Nissan, Stellantis, and others. filed for Chapter 11 protection in U.S. Bankruptcy Court, citing the new U.S. import tariffs. More at the Detroit Free Press. 

+   Tesla has launched updated versions of its aging Model S and Model X luxury flagship vehicles with a number of relatively minor updates and a $5,000 price increase. More at Electrek. 

+   Corvette development engineers are reportedly working on a plan to best the track record of Ford’s Mustang GTD at the historic Nürburgring, which currently stands at 6:52.072. More at The Drive. 

+   The privately entered Ferrari 499P Hypercar from the AF Corse organization of Italy won the 24 Hours of Le Mans with drivers Robert Kubica, Ye Yifei, and Philip Hanson. More at AP News. 

Photo courtesy of General Motors. 

Review the previous MCG Executive Briefing from June 13 here. 

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