Top Automotive Industry News for Week of May 24 - May 30, 2021

Here is the most important news associated with the automotive industry identified by the AEA for the week of May 24, 2021 – May 30, 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-

Audi reportedly shoots down $9.2 billion investor bid for Lamborghini (autoblog)

Electric vehicles need to be owned longer, driven further to offset ‘embedded carbon,’ Jefferies says (CNBC)

Ford promises businesses electric F-150 Lightning Pro will deliver more features, cost less (Detroit Free Press)

Ford ups EV investments, targets 40% electric car sales by 2030 under latest turnaround plan (CNBC)

GM, Lockheed Martin team up to develop lunar vehicles (The Detroit News)

GM now says it will support union at new battery factories (Detroit Free Press)

Hyundai to slash combustion engine line-up, invest in EVs – sources (Reuters)

Tesla’s move from radar to vision costs it some safety endorsements — for now (CNBC)

Toyota Corolla Cross announcement likely as automaker teases small SUV silhouette (CNet)

-Automotive Retail News-

43% of Car Shoppers Plan to Buy This Memorial Day Weekend, But It's an Even Better Time to Sell, Reports Cars.com (PR Newswire)

Audi shows us its concept for luxurious charging lounges of the future (autoblog)

AutoNation adds used-car store in Texas, Lithia expands to Las Vegas (Auto Remarketing)

Car shoppers, seeking Memorial Day deals, face high prices, few discounts and low inventory (CNBC)

Chip crisis forces automakers to rethink just-in-time ordering (The Detroit News)

Ford acknowledges Bronco delays, asks reservation holders for patience (autoblog)

Lithia Motors & Driveway (LAD) Enters Las Vegas Market Adding $225 Million in Revenue (PR Newswire)

May Sales Healthy But Vehicle Supplies Dropping (The Detroit Bureau)

SureSale sees buyers, sellers & technicians all winning with new vehicle inspection app (Auto Remarketing)

The Automotive Finance Market Continued to Move Forward at a Healthy Pace in Q1 2021, with Total Open Loan Balances Reaching $1.288 trillion (Auto Dealer Today)

TrueCar Forecasts Total New Vehicle Sales up 36% for May 2021 (PR Newswire)

U.S. consumers are borrowing more for longer to drive trucks and SUVs (autoblog)

U.S. Senate panel advances EV tax credit of up to $12,500 (Reuters)

Weekly Market Insights (Black Book)

-Automotive Servicing News-

510K Ram trucks recalled; following owner's manual could lead to 'wheel separation' (Detroit Free Press)

DigniFi Partners with TruVideo to Help Service Centers and Dealerships Close More Repair Orders with Better Clarity and Finance Options for Customers (PR Newswire)

Ford recalls Transit Connect vans for shifter issue (The Detroit News)

-General Business & Executive News-

Electric-vehicle firm Rivian could seek $70 bln valuation in IPO (Reuters)

First quarter GDP unchanged at robust 6.4% annual rate (ABC)

Ford Joins Forces with Mile Auto to Make Car Insurance Costs Fair for Lower-Mileage Drivers (PR Newswire)

FM Capital steps up automotive investments with new $150M fund (TechCrunch)

Gas to Hit Highest Memorial Day Weekend Prices in Seven Years, AAA Reports (US News)

Goldman Sachs leads $45M investment into auto fintech startup MotoRefi (TechCrunch)

History Channel's 'The Cars That Built the World' looks at the geniuses behind the vehicles (Detroit Free Press)

Indy 500 party time: Pandemic's biggest sporting event is sold out (autoblog)

Mile Auto Secures $10.3 Million in Seed Funding to Expand Low-Cost Car Insurance Offering Across U.S. (PR Newswire)

See Some of the Coolest Cars Featured in Fast 9 (Car and Driver)

Senate strikes deal on $52 billion for chips in China competitiveness bill (The Detroit News)

Wejo to go public, deal values auto data startup at $800 mln (Reuters)

Which EV Startups Will Survive? (WardsAuto)

-AEA Reminder-

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Have a great week,

Automotive Executives Association

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Automotive Executives Association

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