BMW officially launched the 2026 iX3 with 470 hp and up to 500 miles of range. Get all the latest auto industry news in the Executive Briefing.

Today’s headlines: 

+   More than 300 South Korean workers detained in a massive immigration raid at a Georgia Hyundai plant will be released and brought home, the South Korean government announced. More at The Detroit News. 

+   The Trump administration’s newly signed tariff agreement with Japan gives Japanese carmakers a competitive advantage over the German auto industry, analysts say. More at MSN News. 

+   Tesla’s board of directors has proposed a new compensation package for CEO Elon Musk that could make him a trillionaire in 10 years, but with ambitious performance conditions. More at CNN.

+   Rookie Ollie Bearman of Haas F1 is within two points of an automatic one-race suspension after colliding with Williams driver Carlos Sainz during the Italian Grand Prix. More at Racer. 

+   A new study from S&P Global Mobility found that brand loyalty is declining, with only 51.1 percent of buyers remaining loyal to the same automaker in the first half of 2025. More at Autoblog. 

+   General Motors chair and CEO Mary Barra sold about 40 percent of her personal shares and stock options in the automaker in August, worth approximately $35.4 million. More at USA Today. 

+   The Auburn Cord Duesenberg Automobile Museum announced that it has been awarded a $750,000 grant from the state of Indiana for historic landmark preservation. More at Old Cars. 

+   Volvo Cars, based in Sweden with majority ownership by Geely of China, sold 48,029 cars worldwide in August, a 9 percent decline over the same month last year. More at World Auto Forum. 

+   BMW officially introduced the 2026 iX3, an electric SUV with the automaker’s Neue Klasse design, a 470 hp powertrain, fast 800-volt charging, and up to 500 miles of range. More at The Drive. 

+   Longtime team owner Bill Davis, who operated a NASCAR Cup team for 15 years and helped to launch the careers of Bobby Labonte and Jeff Gordon, has passed away at 74. More at Frontstretch.com. 

Photo courtesy of BMW. 

Review the previous MCG Executive Briefing from September 5 here. 

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