Chrysler is recalling nearly half a million Jeep Grand Cherokee (above) and Commander vehicles due to a cracked circuit board that can launch transmissions into neutral without warning. Get this auto industry news and more in the Executive Briefing.
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+ Shares of Ontario-based supplier Magna International Inc. hit a record high as sales rose nine percent to $8.36 billion. More here at CNBC.
+ Chrysler is recalling 469,000 Jeep Commander and Cherokee SUVs to correct a safety defect in the transmission electronics. More here at The Washington Post.
+ Penske Automotive Group has increased its quarterly dividend for the first quarter of 2013 by 7 percent. More here at Daily Finance.
+ One week after a washout, NHRA completed the Southern Nationals at Atlanta Dragway with Antron Brown (Top Fuel), Johnny Gray (Funny Car), and Mike Edwards (Pro Stock) winning the pro categories. More here at Online Athens.
+ An investigative report by the Associated Press charges that vehicles manufactured in Brazil are grossly deficient in safety. More here at the Huffington Post.
+ Milford Township. Michigan has granted $3.2 million in tax abatement for a new $256 million IT center at the General Motors Proving Grounds. More here at The Detroit News.
+ The National Highway Traffic Safety Administration has opened an investigation of 2005-2007 Corvettes to study a potential headlamp defect. More here at UPI.com.
+ Beijing Auto has introduced the Senova D Series sedan, a descendant of the Saab 9-5 based on assets obtained in 2009. More here at China Auto Web.
For the previous Executive Briefing from May 6, click here.
So BAIC obtained the Saab property back in 2009 and is just now bringing it to market in 2013? This reminds me of your recent item stating that the Chinese industry is 10 years behind.