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May 26, 2016 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Michigan Moves to Lead Driverless Car Testing
Takata Hires Financial Adviser to Mull Restructuring Options
May Forecast Calls for Improved Sales, Daysí Supply
Senators Ask for Info on Front-Seat Failures
Ford Recalls Nearly 271,000 Previous-Generation F-150s After Brake Failures
BMW Invests in California-Based Mobile Carpooling App
Top Stories
Michigan Moves to Lead Driverless Car Testing

Sweeping legislation was introduced Wednesday in the state Senate that aims to make Michigan the nation’s leader in autonomous vehicle testing by allowing manufacturers to produce and sell self-driving cars and clearing the way for their use on state roadways.
Source: The Detroit News

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Takata Hires Financial Adviser to Mull Restructuring Options

Takata Corp. hired investment bank Lazard to lead a financial restructuring and help resolve costs stemming from its recall of tens of millions of faulty airbags linked to at least 13 deaths and more than 100 injuries worldwide. Takata's board of directors in February named an outside steering committee to develop a comprehensive restructuring plan to address the financial and operational issues related to its recall of the defective inflators. The outside committee said it retained Lazard as it is "expeditiously seeking new investment for Takata," the committee said in a statement.
Source: Reuters

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May Forecast Calls for Improved Sales, Daysí Supply

A WardsAuto forecast calls for U.S. automakers to deliver 1.52 million light vehicles in May. The forecast daily sales rate of 63,443 units over 24 days represents a 1.3% improvement from like-2015 (26 days), while total volume for the month would fall 6.5% from year-ago. The 14.4% DSR increase from April (27 days) is ahead of the 7-year average 8% growth. The report puts the seasonally adjusted annual rate of sales for the month at 17.3 million units, slightly above the 17.1 million SAAR from the first four months of the year, but below the 17.6 million SAAR reached in May 2015.
Source: WardsAuto

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Senators Ask for Info on Front-Seat Failures

Two U.S. senators sent letters to more than a dozen automakers on Wednesday asking for information on front-seat collapses and the threat they may cause to passengers in rear-end crashes. U.S. Sens. Ed Markey, D-Mass., and Richard Blumenthal, D-Conn., sent the letters to 17 automakers, including General Motors, Ford, Fiat Chrysler Automobiles and others, saying seat back strength standards haven’t been substantially updated since the late 1960s. The senators worried that seats are being designed to protect front-seat passengers despite the threat a collapse could cause to rear-seat passengers.
Source: Detroit Free Press

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Ford Recalls Nearly 271,000 Previous-Generation F-150s After Brake Failures

Ford Motor Co. is recalling nearly 271,000 previous-generation F-150s after a three-month investigation by federal safety regulators into dozens of complaints about front brake failures and nine crashes. Ford said the problem involves fluid leaking from the master brake cylinder into the brake booster, resulting in reduced braking ability. Some owners who complained said they could not stop even when pressing the brake pedal all the way to the floor. Dealers will replace the master cylinder and, if there are signs of a leak, the booster, Ford said.
Source: Automotive News

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BMW Invests in California-Based Mobile Carpooling App

BMW AG said [Wednesday] its BMW iVentures venture capital arm has invested an undisclosed amount in California-based Scoop Technologies, which offers a smartphone-powered carpooling service called Scoop. BMW's move is the latest in a flurry of investments by automakers in technology industry startups that appear to be aimed at convincing consumers to do without owning their own cars, or driving vehicles as often.
Source: Reuters

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          Quotable
          "We’re the center of mobility and we’re not going to take that for granted. We’re going to continue to push that the way mobility gets framed in the future gets developed in Michigan."

              -- Michigan State Transportation Director Kirk Steudle, on a legislation introduced to the state Senate aimed at making Michigan a leader in autonomous vehicle testing, The Detroit News, May 25

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