Investors were unimpressed with the debut of Tesla’s Cybercab self-driving taxi, punishing the automaker’s share price. Get all the latest auto industry news in the Executive Briefing.

Today’s headlines:

+   Italian brake manufacturing giant Brembo is purchasing shock absorber supplier Öhlins of Sweden for $405 million from parent company Tenneco, subject to regulartory approval. More at Car and Driver.

+   According to a new report from the Alliance for Automotive Innovation, the market share for internal-combustion vehicles is shrinking as sales of hybrids and EVs continue to grow. More at Autoblog. 

+   Police in Prosper, Texas, reportedly fed up with a Toyota dealer’s practice of sending out demonstrators without license plates, ticketed a customer on a road test for no plate. More at The Drive. 

+   Toyota will return to Formula 1 to become a technical partner with  American racing team Haas, but Toyota chairman Akio Toyoda says the deal will not include engine supply. More at AP News. 

+   French specialty car maker Alpine has unveiled the A390_β Electric Sport concept, part of its Alpine EV Dream Garage lineup, and has plans to bring it to North America. More at Motor Illustrated. 

+   United Auto Workers president Shawn Fain warned that hundreds of thousands of U.S. auto jobs would be at risk if former President Donald Trump wins the Nov. 5 election. More at CBT News. 

+   The BMW Skytop roadster concept unveiled in Italy in May is headed for production, the company says, but all 50 copies are reportedly spoken for at an undisclosed price. More at Motor Authority. 

+   Investment analysts were less than impressed with Tesla’s debut of the Cybercab self-driving taxi, now due in 2026, sending the company’s share price down 9 percent. More at Reuters. 

+   Polestar CEO Michael Lohscheller says the company is conducting a strategic review of its operations after reporting a 14 percent decline in third-quarter EV deliveries. More at World Auto Forum. 

+   Following the Charlotte Roval race, eight drivers remain in playoffs contention for the 2024 NASCAR Cup championship, with all four Hendrick Motorsports entries making the cut. More at Motorsport.com. UPDATE: The car of Hendrick Motorsports driver Alex Bowman failed postrace inspection, so now Bowman is out of the playoffs and Penske driver Joey Logano is in. More at the New York Times.

Photo courtesy of Tesla. 

Review the previous MCG Executive Briefing from October 11 here. 

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