Ford is cutting the price of the F-150 Lightning by up to $4,000 to make up for the loss of the federal EV tax credit. Get all the latest industry news in the Executive Briefing.
Today’s headlines:
+ Global vehicle shipments at Stellantis rose 13 percent year-on-year in the third quarter, led by new models and improving demand for its vehicles in North America. More at World Auto Forum.
+ Shares of Ferrari posted their worst trading day ever after the luxury carmaker downrated its full-year and 2030 guidance and scaled back its electrification plans. More at CNBC.
+ Genesis is marking its 10th anniversary as a standalone luxury brand with the opening of its all-new Design California styling studio in the Los Angeles suburb of El Segundo. More at Motor Trend.
+ The long-running contract dispute between McLaren and driver Alex Palou is now in UK High Court, with Palou asserting that McLaren misled him about a possible Formula 1 ride. More at Motorsport.com.
+ Ford will buy less lithium and delay taking shipments from Australian producer Liontown Resources as future EV production and demand become more uncertain. More at The Detroit News.
+ The Capricorn Group, a German tech firm, commissioned Zagato for the design of its Capricorn 01 hypercar, which boasts a 887 hp V8 and a five-speed manual gearbox. More at Car and Driver.
+ Volkswagen’s global deliveries in the third quarter rose 1 percent to 2.2 million vehicles despite a 7.2 percent decline in China and a 9.8 percent fall in North America. More at CBT News.
+ The future of Kia’s planned Tasman-based SUV is now in doubt as sales of the pickup have stumbled in Australia, where the Toyota Hilux and Ford Ranger dominate. More at Autoblog.
+ To help compensate for the recent loss of the federal EV tax credit. Ford is cutting prices of the F-150 Lightning electric pickup by up to $4,000 depending on trim level. More at The Drive.
+ At Petit Le Mans at Road Atlanta, Porsche Penske Motorsport drivers Mathieu Jaminet and Matt Campbell finished third to clinch the 2025 IMSA GTP driver championship. More at Racer.
Image courtesy of Ford.
Review the previous MCG Executive Briefing from October 10 here.
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My fear is the U.S. auto industry will continue to fall behind China and Korea in EVs.
“Global deliveries are not the same as sales in the automotive industry; sales refer to the transactions of new vehicles to customers, while deliveries include all types of vehicle movements, such as new car shipments, used car exports, the relocation of personal vehicles by individuals and various other activities. Sales are a single component of overall global vehicle movement but do not encompass the full picture of what is being delivered internationally” according to the internet…
“Deliveries”: Now they’re the dealers’ problem.