MCG Executive Briefing for October 11, 2024

Production has finally ended forever on the cut-rate Ram 1500 Classic. Get all the latest auto industry news in the Executive Briefing.

 

Today’s headlines:

 Battery maker Northvolt of Sweden is attemping to sell off its inventories of raw manufacturing materials as the company takes steps to improve its financial position. More at Reuters. 

 General Motors’ third-quarter sales in China declined 21 percent from last year amid its reorganization there as the legacy automakers continue to lose ground against  home brands. More at The Detroit News. 

 With a take rate of only 4 percent, Jeep has quietly removed the 5.7-liter, 357 hp V8 from the option list for the Grand Cherokee L, leaving the 293-hp V6 as the sole  engine. More at Car and Driver. 

 A total of 48 entries have been confirmed for the full 2025 IMSA championship sports car season, including 11 full-time GTP entries and more than 60 cars for 24 Hours of Daytona. More at Racer. 

 Sales of U.S. automaker Tesla’s China-made electric vehicles, manufactured for sale in China and Europe, increased 19.2 percent in September from the same month last year. More at World Auto Forum. 

 Ramping up its effort to increase market share against its truck rivals, Ford is offering Ram owners a $2,000 discount on the purchase of a Lightning F-150 EV pickup. More at CBT News.

+   Honda is recalling 1.8 million Honda and Acura-branded vehicles from the 2022 through 2025 model years to correct an annealing defect in the steering gear assembly. More at Autoweek. 

+   The Specialty Equipment Market Association (SEMA) and National Truck Equipment Association (NTEA) have suit against the state of California over electric truck mandates. More at Motor Authority.

 As previously announced, the Ram 1500 Classic is officially discontinued, as production ended on October 4 when the last pickup rolled off the line at the Warren, Michigan plant. More at The Drive.

 Front Row Motorsports and 23XI Racing have filed a motion for a temporary injunction allowing them to race as chartered teams through the 2025 NASCAR Cup season. More at Motorsport.com. 

Photo courtesy of Stellantis. 

Review the previous MCG Executive Briefing from October 7 here. 

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