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Inside this issue
Strong April Sales: U.S. Auto Industry Still On Track For A Record Year
Joe Hinrichs Has Ford Humming
Why Michigan Wants to Stay in the Driver's Seat on Autonomous Vehicle Legislation
Auto Sales Seen at Record Pace as Virtual Reality Beckons Buyers
Marchionne is Set to Become Ferrari CEO, Report Says
Cars So Hot They’re Out of Stock
Top Stories
Strong April Sales: U.S. Auto Industry Still On Track For A Record Year

Based on strong U.S. auto sales in April, forecasters are sticking with predictions for record U.S. auto sales this year, beating the all-time record set just last year. If there’s a cloud on that horizon, it’s that LMC Automotive and J.D. Power and Associates predicted an increase in the share of fleet sales, and forecasters also noted an uptick in incentive spending. On average, sales to government, corporate and rental fleets are less profitable than sales to individual retail customers. Nevertheless, LMC and J.D. Power reiterated a record forecast for all of 2016 of about 17.8 million overall, including retail and fleet sales.
Source: Forbes

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Joe Hinrichs Has Ford Humming

North America drives 3 record quarters in last 4

Since 2011, Ford Motor Co. has earned pretax profits totaling $45 billion in North America. It lost $1.8 billion in the rest of the world. And North America's position as Ford's profit driver keeps getting stronger. In an interview at the automaker's global headquarters Friday, April 29, Joe Hinrichs, Ford president of the Americas, noted that the region has achieved record profits in three out of four quarters.
Source: Automotive News
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Why Michigan Wants to Stay in the Driver's Seat on Autonomous Vehicle Legislation

In 2013, Michigan legislators adopted the state's first laws for driverless vehicles, allowing them to share the road with live motorists only while being tested. That legislation helped Michigan become an early leader in the race to build a self-driving car, said Mike Kowall, a state senator from Oakland County who sponsored the bills. But for Michigan to win -- especially against the tech giants of Silicon Valley, which are developing their own prototypes -- he believes the state also needs to lead by regulation, before a patchwork of rules crops up across state lines.
Source: Crain's Detroit Business
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Auto Sales Seen at Record Pace as Virtual Reality Beckons Buyers

As automakers aim to keep sales ahead of 2015’s record-setting pace, they’re pulling out all the stops to draw in buyers. Virtual reality may be next in their bag of tricks. With dealers from Brazil to Berlin already experimenting with virtual reality, automakers see twin benefits of the technology: enhance the customer experience while also shaving off some of the $2.75 billion U.S. dealers spend annually on interest to keep new vehicles on their lots.
Source: Bloomberg
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Marchionne is Set to Become Ferrari CEO, Report Says

Ferrari is set to appoint Sergio Marchionne to replace Amedeo Felisa as CEO, according to people familiar with the matter. Felisa, 69, will probably announce his intention to retire from the post today when Ferrari’s new board of directors meets for the first time to discuss first-quarter results, said the people, who asked not to be named before an official announcement. While Felisa has mulled retirement for months, the decision has not been finalized, and the plans could still change.
Source: Automotive News

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Cars So Hot They’re Out of Stock

American motorists bought a record 17.5 million new vehicles in 2015. While automobile sales are at an all time high, certain makes and models are in much higher demand than others. Click here for the cars so hot they’re out of stock.
Source: 24/7 Wall St.
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          Quotable
          "That shows you the strength of the industry, the strength of our product portfolio broadly speaking and the strength of the F-150 after we got the new one launched."

              -- Joe Hinrichs, Ford president of the Americas, on the automaker's increasing profits, Automotive News, May 2

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