Top Automotive Industry News for Week of April 26 - May 2, 2021

Here is the most important news associated with the automotive industry identified by the AEA for the week of April 26, 2021 – May 2, 2021.

We hope it helps you stay up to speed on the key developments in our industry:

-Automotive Executives Association (AEA) News-

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-Automotive Manufacturing News-

Auto lobby seeks update to federal car safety standards following Tesla crashes (CNBC)

Ford’s ‘confusing’ 2021 guidance is hurting its stock despite blowout first-quarter earnings (CNBC)

GM to invest $1 billion in Mexico for electric vehicle production, angering UAW members (CNBC)

Intel CEO says chip shortage to last ‘couple of years’ (Detroit News)

Late tax payment another troubling sign for electric truck startup Lordstown Motors (Detroit Free Press)

On top of zero-emission vehicles, GM plans to clean up its operations (Autoblog)

Stellantis to cut production at Jefferson North plant in Detroit amid chip shortage (Detroit Free Press)

Tesla posts record net income of $438 million, revenue surges by 74% (CNBC)

Volkswagen expects chip supply to remain tight in coming months (Reuters)

U.S. auto suppliers oppose setting gas-powered phase-out date (Reuters)

-Automotive Retail News-

Auto Sales Remain Healthy Even With Incentive Spending at 5-Year Low (Cox)

Carvana rolls into 7 more markets (Auto Remarketing)

Cox Automotive April Forecast: Hot New-Vehicle Sales Pace Expected to Continue (Cox)

Forecasted Jump in April Auto Sales Gets Second Confirmation (The Detroit Bureau)

GM to offer electric vehicle drivers access to 60,000 plugs in US, Canada (Detroit Free Press)

Weekly Market Insights (Black Book)

Kelley Blue Book 5-Year Cost to Own Awards (KBB)

Lithia expands presence in Northeast with latest deal (Auto Remarketing)

Stellantis' Free2Move to offer subscription service in U.S. (Detroit News)

TrueCar Forecasts Total New Vehicle Sales up 97% for April 2021 Compared to Prior Year When Sales Bottomed Out Due to the Pandemic (PR Newswire)

-Automotive Servicing News-

Auto-Recall Attention Turns to Integrated Electronics (WardsAuto)

GM issues remedy for Bolt recall over battery fires (Detroit News)

Major Retailers Say Fixed Ops Mostly Flat in First Quarter (WardsAuto)

-General Business & Executive News-

Agero Expanding to Add Scheduled Vehicle Transfers (WardsAuto)

Biden's first 100 days have already electrified the auto industry (CNet)

British government takes a first step toward allowing ‘self-driving’ cars on public roads (CNBC)

CarGurus hires former Amazon exec to head up digital retail business (Auto Remarketing)

Global electric vehicle numbers set to hit 145 million by end of the decade, IEA says (CNBC)

FordDirect Selects Dealer Inspire as Preferred Website and Technology Platform Provider for its 3,000 U.S. Dealers (Cars.com)

GM CEO Barra earns $23.6 million in 2020, topping 2019 compensation (Detroit Free Press)

Mike Manley, last CEO of Fiat Chrysler, had total compensation in 2020 of $14M (Detroit Free Press)

SEC Investigating VW Due to the “Voltswagen” Stunt (The Detroit Bureau)

Signs All Point to a Gasoline Shortage This Summer, CNN Warns (Car and Driver)

U.S. economy grew at 6.4 percent annual rate in first quarter as consumer spending drives robust recovery (NBC News)

Woven Planet, a subsidiary of Toyota, to acquire Lyft’s self-driving car division (Lyft)

-AEA Reminder-

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Have a great week,

Automotive Executives Association

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Automotive Executives Association

www.automotiveexecutives.com