Top Automotive Industry News for Week of May 10 - May 16, 2021

Here is the most important news associated with the automotive industry identified by the AEA for the week of May 10, 2021 – May 16, 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-

Chip shortage expected to cost auto industry $110 billion in revenue in 2021 (CNBC)

Cruise expects GM to begin production of new driverless vehicle in early 2023 (CNBC)

Fisker finalizes deal with Foxconn to make EVs in U.S. starting in 2023 (Reuters)

Ford's adding Amazon's Alexa to 700,000 vehicles this year (CNet)

Ford plans to launch technology for over-the-air upgrades to millions of cars — just like Tesla (CNBC)

Honda returns to profit but sees chip shortage crimping 2021 earnings (Reuters)

Hyundai to Build EVs in U.S. Under $7.4B Spending Plan (WardsAuto)

Stellantis CEO says brands have 10 years to prove their worth (Detroit News)

Toyota Execs Say Gasoline Will Still Power Most of Its Vehicles Through 2030 (Auto Dealer Today)

Toyota set to dodge earnings nightmare caused by chips crisis (Detroit News)

-Automotive Retail News-

40% of Car Shoppers Willing to Pay $5000 over MSRP for a New Car (Car and Driver)

Bronco customers learn production will be delayed in letter from Ford (Detroit Free Press)

Electrified Vehicle Shopping Hits New Heights, SUVs Soar According to Latest Kelley Blue Book Brand Watch Report (PR Newswire)

Nissan, Brie Larson Top Most-Seen Auto Ads Chart – Again (WardsAuto)

Q1 2021 Kelley Blue Book Brand Watch Report: Tesla, Volvo Gain While BMW, Mercedes-Benz Slip (Cox Auto)

Record April Sales Deplete May New-Vehicle Inventory (Cox Auto)

Tesla Backtracked on Accepting Bitcoin, but There Are Car Dealers That Take It (Car and Driver)

Weekly Market Insights (Black Book)

-Automotive Servicing News-

2021 SEMA Show Registration Is Open (Modern Tire)

-General Business & Executive News-

Biggest driver of price increases, inflation worries: Used cars (Autoblog)

Chinese driverless car company WeRide valued at $3.3 billion after fresh funding (CNBC)

EV startups lose more than $40 billion after going public (Automotive News)

Gas Prices Hit $3 Per Gallon Average, First Time Since 2014 (GasBuddy)

Registration, Titling Undergoing Digital Revolution (WardsAuto)

SpinCar Acquires Pulsar AI (Automotive Ventures)

U.S. Economic Rebound Proves More a Grind Than a Boom (Bloomberg)

U.S. gasoline shortage eases, but pumps dry in some areas (Reuters)

U.S. senators close to announcing $52 billion chips funding deal (Autoblog)

Waymo, Cruise seek permits to charge for autonomous car rides in San Francisco (Autoblog)

-AEA Reminder-

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Have a great week,

Automotive Executives Association

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Automotive Executives Association

www.automotiveexecutives.com