JR Hildebrand is out of an IndyCar ride at Panther Racing, replaced by former Penske and Ganassi driver Ryan Briscoe. Get this car biz news and more in today’s Executive Briefing.
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+ U.S. auto sales are expected to show a 6 percent increase for May, reversing a slight decline in April. More here at Reuters.
+ Fiat SpA is arranging $10 billion in new financing to complete its purchase of Chrysler Group LLC. More here at International Business TImes.
+ McCann WorldGroup has named Bill Kolb to the new position of CEO of the General Motors advertising account. More here at The Detroit News.
+ Tata Motors, India’s largest automaker, beat analysts’ earnings estimates with strong sales in its Jaguar Rover Ltd. division. More here at BBC News.
+ Honda is slashing its 36-month lease rate on the compact Fit electric vehicle from $389 to $259. More here at the Los Angeles Times.
+ The Williams Formula 1 team will switch from Renault to Mercedes engines for 2014. More here at The Globe and Mail.
+ Japan’s three largest automakers increased production in China last month, signaling an improvement in relations. More here at Bloomberg.com.
+ IndyCar Series team Panther Racing has released driver JR Hildebrand in mid-contract and handed the seat to Ryan Briscoe. More here at USA Today.
For the previous Executive Briefing from May 27, click here.