Recreated from a collection of original Bugatti components, this 1927 Bugatti 35B brought more than $432,000 at the Bonhams Bond Street sale. Get all the latest auto industry news in the Executive Briefing.

Today’s Headlines:

+   According to the car shopping website CarGurus, used car values have risen 30 percent in the past year, with Ram, Aston Martin, Ford, and Chevrolet leading the trend. More at Car and Driver. 

+   Volkswagen reports it has reached the broad outlines of a financial settlement with former boss Martin Winterkorn over his role in the diesel emissions cheating scandal. More at Reuters. 

+   Nissan Motor is pushing back the release of its flagship Ariya electric SUV from mid-2021 until sometime this winter due to the continuing global microchip shortage. More at The Detroit News. 

+   Formula 1 tire supplier Pirelli believes debris led to the spectacular tire failures for Max Verstappen of Red Bull and Lance Stroll of Aston Martin in the Azerbaijan Grand Prix. More at GPToday. 

+   Ford announced that so far this year, production of the Mustang Mach-E electric crossover is surpassing the volume of the gasoline-powered conventional Mustang. More at CNET Roadshow. 

+   North Carolina legislators have passed a bill banning “squatted” trucks, a modification popular in the South in which the front is raised dramatically and the rear lowered. More at The Drive. 

+   Football star David Beckham has purchased a 10 percent stake in the UK firm Lunaz, which specializes in electric powertrain conversions of classic British automobiles. More at Autoblog. 

+   The Bonhams Bond Street sale, the auction firm’s first live event of 2021, featured a selection of classic and vintage European sports cars and a 95 percent sell-through rate. More at Sports Car Digest. 

+   The autonomous vehicle company Cruise, in which General Motors holds a majority share, has won a state permit to carry passengers in driverless test cars in California. More at CNBC. 

+   The Camping World SRX Series, the IROC-like invitational series started by Ray Evernham and Tony Stewart, announced that Hailie Deegan will join for two races. More at NBC Sports. 

Photo courtesy of Bonhams. 

Review the previous Executive Briefing from June 4 here.

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