Buick has revived the Electra name for an electric concept crossover for China, which the automaker unveiled in Shanghai. Get all the latest auto industry news in the Executive Briefing.
Today’s Headlines:
+ In a surprise move, Honda announced it will leave Formula 1 at the end of the 2021 season and reassign the resources to fuel-cell and electric-powered vehicles. More at Motorsport.com.
+ On his first day on the job as Ford CEO, Jim Farley announced an operational restructuring and management shakeup as the automaker fights to boost shareholder confidence. More at CNBC.
+ Third-quarter new-vehicle sales are down 10 percent from last year, but up from the previous quarter this year, hinting at a potentially rapid recovery for the U.S. market. More at Car and Driver.
+ Goldman Sachs Group Inc. will buy General Motors’ credit card business for around $2.5 billion, outbidding the British multinational investment bank Barclay’s PLC. More at Reuters.
+ The NTT IndyCar series has confirmed a 17-race schedule for 2021, with St. Petersburg opening the season for the 10th year and a double-header event in Texas. More at Racer.
+ Lotus will introduce its Volvo-based, Chinese-built SUV before the end of the year with a variety of powertrain combinations and aimed squarely at the Porsche Cayenne. More at Autoblog.
+ Former United Auto Workers President Dennis Williams pleadedar guilty to embezzling hundreds of thousands of dollars from the union and will be sentenced in January. More at The Detroit News.
+ Ford confirmed that the Mustang Shelby GT350 will be discontinued at the end of the 2020 model year, but its Voodoo flat-crank V8 could continue in another application. More at The Drive.
+ Buick has revived the Electra nameplate, in concept form at least, on an electric crossover for the Chinese market and unveiled in Shanghai last week. More at Classic Cars.com Journal.
+ Hendrick Motorsports and Richard Childress Racing will team up on the development of a common Chevrolet engine for NASCAR, mirroring the Ford and Toyota programs. More at NBC Sports.
+ Embattled electric truck maker Nikola has canceled an event to unveil its Badger battery-powered pickup, citing Arizona’s COVID-19 social distancing requirements. More at CNET Roadshow.
Review the previous Executive Briefing from September 28 here.
Photo courtesy of General Motors China.
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