Porsche has formally unveiled the Taycan Cross Turismo, a sport wagon version of the groundbreaking electric sedan. Get all the latest auto industry news in the Executive Briefing. 

Today’s Headlines:

+   General Motors confirmed that is it studying the construction of second battery cell manufacturing plant with partner LG Chem of South Korea, probably in Tennessee. More at the Detroit Free Press. 

+   While new vehicle sales in the U.S. dropped nearly 15 percent in 2020 due to the COVID-19 pandemic, dealer profits climbed 48 percent due to the shortage of vehicles. More at Car and Driver. 

+   Porsche has formally unveiled the 2022 Taycan Cross Turismo, its sport wagon version of the groundbreaking electric sedan, announcing availability sometime this summer. More at Autoblog. 

+   The U.S.-based Haas Formula 1 team has secured a title sponsor, Uralkali, the Russian potash supplier controlled by Dmitry Mazepin, father of team driver Nikita Mazepin. More at Racer. 

+   The National Safety Council reports that U.S. traffic deaths spiked 8 percent to 42,060 in 2020, even though the COVID-19 outbreak drastically reduced road travel. More at The Detroit News. 

+   French/American automaker Stellantis announced that it will distribute the proceeds of its sale of French auto parts manufacturer Faurecia to the company’s shareholders. More at Reuters. 

+   According to Experian, monthly new car payments in the USA rose to an average of $576 in 2020 while the average price of a new car rose $2,000 to $35,228, a record high. More at CNBC. 

+   Gooding & Company has postponed its live Amelia Island auction until 2022 following the rescheduling of the Amelia Island Concours d’Elegance from March to May. More at Classic Cars.com Journal. 

+   Tesla CEO Elon Musk says a major update to the company’s Full Self Driving software may be coming in April, and that FSD will also be available via subscription. More at Autoweek. 

+   This year’s 24 Hours of Le Mans will be postponed from its traditional June date to August 21-22 due to the virus pandemic, the Automobile Club de l’Ouest announced. More at Motorsport.com. 

Photo courtesy of Porsche. 

Review the previous Executive Briefing from March 1 here. 

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