Ferrari introduced the Roma Spider, its first front-engine, cloth-top convertible in 50 years. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ SAIC Volkswagen Automotive is offering $537 million in cash subsidies for car purchases in China, joining more than 40 brands in slashing prices ahead of a change in emissions rules. More at Reuters.
+ Audi plans to replace the current R3 by 2027 with an entry-level EV based on the Volkswagen Group’s SSP platform with two body styles, a hatchback and a four-door sedan. More at The Drive.
+ Car rental companies are expanding their operations and inventories and offering spring discount deals again, reversing a trend that began with the COViD-19 pandemic. More at Car and Driver.
+ Mercedes Formula 1 team principal Toto Wolff acknowledged that seven-time world champion Lewis Hamilton could leave the team if it doesn’t return to competitive form soon. More at The Guardian.
+ The Dicastal North America facility in Greenville, Michigan, manufacturer of cast aluminum wheels for the auto industry, suffered significant damage in a plant explosion. More at the Detroit Free Press.
+ Featured attractions at Barrett-Jackson’s annual Palm Beach auction on April 13-15 will include 2005 and 2020 Ford GTs, a 1966 Nova SS, and a 1969 Bronco restomod. More at Old Cars.
+ Earnings of U.S. auto retailers have eased over the past few months from the record levels of 2022 as margins came under pressure from high interest rates and inflation. More at World Auto Forum.
+ Ferrari has introduced its first front-engine, cloth-top covertible in 50 years, the Roma Spider, boasting a twin-turbo V8 with 612 hp and a price of $247,310, but no due date has been set. More at Autoblog.
+ State Farm and Progressive are now refusing to issue new insurance policies on certain Kia and Hyundai vehicles.due to the explosion in thefts triggered by a viral TikTok fad. More at Motor Trend.
+ After a year off, Indycar veteran and 2014 Indy 500 winner Ryan Hunter-Reay will return to competition at Indianapolis in May driving for Dreyer and Reinbold Racing. More at IndyStar.
Photo courtesy of Ferrari.
Review the previous MCG Executive Briefing from March 17 here.
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