Sources say Mercedes-Benz has sold one of its two 300SLR Uhlenhaut coupes to a private party for a record $142 million. Get all the latest auto industry news in the Executive Briefing.

Today’s Headlines: 

+   Arkansas EV startup Canoo has reported a $125 million net loss for the first quarter of 2022 and disclosed that there is “substantial doubt” that the company can continue. More at Electrek. 

+   General Motors has agreed to increase wages 8.5 percent in a new collective bargaining agreement with union workers at its largest assembly plant in Mexico. More at Reuters. 

+   Mercedes has issued an urgent recall of 292,000 ML, GL and R-Class vehicles to correct a brake defect, warning owners not to drive them until they can be serviced. More at The Detroit News. 

+   Following the contact between Graham Rahal and Romain Grosjean at Barber Motorsports Park, IndyCar officials say they will reinforce the series’ clean driving standards. More at Racer. 

+   Ford intends to introduce its next-generation S650 Mustang in April of 2023 with four-cylinder EcoBoost turbo, Coyote V8, and hybrid powertrain options available. More at Autoblog. 

+   The former International Scout will return in 2026 as an electric pickup and SUV and part of a new adventure vehicle brand produced and marketed by Volkswagen Group. More at Car and Driver. 

+   Fisker and FoxConn have reached an agreement for FoxConn to produce the $30,000 Fisker PEAR electric vehicle at the former General Motors Lordstown plant. More at Motor Authority. 

+   Sources have confirmed that Mercedes-Benz has sold one of its two 300SLR Uhlenhaut coupes for $142 million, which, if true, is a record price for a collector car. More at Hagerty Media.

+   EV startup Bollinger Motors, which recently shifted its focus from consumer pickups and SUVs to commercial vehicles, has contracted the production to Roush Industries. More at Autoweek. 

+   Team Penske and the affiliated Wood Brothers Racing team have shuffled their pit-crew assignments ahead of Sunday’s NASCAR Cup Series race at Kansas Speedway. More at Jayski. 

Photo by James Lipman courtesy and copyright of Hagerty Media. 

Review the previous Executive Briefing from May 9 here.