Nutson's Weekly Auto News Review - May 19-25, 2019

AUTO CENTRAL CHICAGO - May 26, 2019: Every Sunday Larry Nutson, Executive Producer and Chicago Car Guy along with senior editor Thom Cannell from The Auto Channel Michigan Bureau, give you The Auto Channel's "take" on this past week's automotive news, in easy to "catch up" with news summaries.

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Nutson's Weekly Automotive News Digest - Vehicle news and back stories in easy to digest nuggets.

* In ongoing news about Tesla, Elon Musk told employees Tesla has just ten months to hit break even, despite the new infusion of cash from the latest share and debt sale, and ordered a hard clampdown on costs. And, Federal safety investigators have concluded that the Autopilot system was on when a Tesla plowed in to a semi trailer in Florida, killing the driver. The National Transportation Safety Board has now linked three fatalities to accidents involving Teslas operating on Autopilot.

* Tesla stock had a wild ride on Wall Street this week as Elon Musk asserted the company has a “good chance�?? in the second quarter of exceeding the record level of deliveries to customers set in the final quarter of 2018. He also claimed they have over 50,000 new orders this quarter. Stock closed Thursday up 1.4% at $195.49. Analysts worry that Tesla cannot deliver the numbers they claim for the quarter or even for the year. Musk continues under the scrutiny of the SEC for loose talk on social media and e-mail blasts.

* Alabama's new law sharply restricting abortions has provoked a backlash in the form of a call for consumers to boycott the state and the goods produced by them, including vehicles made in the state by Mercedes, Hyundai and Honda. Other Southern states passing new anti-abortion laws, including Georgia, also host foreign-owned auto plants.

* Pre-trial hearings began this week in Tokyo against former chairman of Nissan, Renault and Mitsubishi, the world’s largest automotive conglomerate, Carlos Ghosn. The once-influential auto exec has been in and out of Japanese custody on a variety of charges for many months facing accusations of a variety of financial misdeeds. Ghosn’s defenders assert the charges are part of a conspiracy by [unidentified] Japanese actors to wrest more of the auto business control away from the Europeans.Â

* From Reuters, German prosecutors hit auto supplier Bosch with a 90 million euro fine for standing by while Volkswagen used its technology to cheat on diesel emissions testing. The fine closes the investigation of Bosch's role in the scandal, authorities said.

* Automotive News reports that General Motors faces pushback over its request that U.S. regulators waive some automobile safety standards to make it possible to deploy a ride-sharing fleet of driverless cars without steering wheels or other human controls. GM first made the request for a two-year temporary waiver on features like mirrors, dashboard warning lights and turn signals designed for a human driver. Several groups, including car dealers and insurers, raised questions posted publicly this week pressing NHTSA to demand more data, require additional safety provisions or deny the petition outright. The National Association of Mutual Insurance Companies said driverless vehicles without human controls should not be permitted on public roads until data proves the cars are safe.Â

* General Motors' app-based car sharing service known as Maven is exiting some markets after nearly three years of expansion. The purpose behind the contraction is to shift "some of the offerings to focus on markets where we have the most current demands or growth potential," according to a spokesman. NYC and Chicago are two of the cities that will be cut.

* Fiat Chrysler is recalling over 208,000 minivans in North America because they could lose power-assisted steering or engines can stall. The recall covers certain Chrysler Pacifica minivans from the 2017 through 2019 model years. All have systems that stop the engine for traffic lights and restart it when a driver presses the gas pedal.

* Ford is eliminating about 7,000 salaried jobs—about 10% of its global white-collar workforce—as pressures mount on automakers to keep pace with massive technological shifts amid signs global car demand has peaked. Eliminating the positions will save Ford about $600 million a year, Chief Executive Officer Jim Hackett wrote in a memo to employees. The majority of the cuts will be completed by May 24 in North America, and by the end of August in other markets including Europe, China and South America.

* A Chevy dealership in Jefferson City, Missouri took a direct hit from a tornado Wednesday as a line of violent storms crossed the country’s midsection causing flooding and wind damage. A Riley Chevrolet spokesperson told Automotive News that "all employees are safe�?? but 750 vehicles on the lot were damaged. The dealership has been in the same family since 1936. The Riley Chevrolet and Toyota dealerships will be closed entirely while they assess damages, but they’ve vowed to rebuild.

* The Mecum Auction did well in Indianapolis this past week with ’66 and ’67 Cobra Roadsters leading the way, selling at $2.42 million and $2.86 million respectively. Four other cars went for over $1 million. The top 10 sellers included seven U.S.-built muscle cars, including the Cobras. Three display engines were also auctioned bringing between 150- and 225-grand. Mecum’s Indy sales topped a record $70 million.Â

* Our friend Larry Edsall at ClassicCars.com told us this week that Jay Leno will be on The Price is Right TV game show Monday in honor of their “Dream Car Week.�?? Contestants will play for different exotic vehicles during the week including: Porsche 719 Boxster, Tesla Model 3, Land Rover Range Rover Velar S, and Maserati Ghibli. Leno will be there to join host Drew Carey if someone wins Monday’s Jaguar F-Type convertible.

* The Bob Bondurant School of High Performance Driving, Inc. has new owners. Stig Investments, Inc., a group of entrepreneurs who are racing enthusiasts and automobile collectors, announced it has finalized its purchase of the performance racing school. In conjunction with the purchase, the new owners and FCA US LLC announced that the school will continue as “The Official Performance Driving School of Dodge//SRT.�?? Since 2015, the school’s fleet of nearly 100 vehicles is exclusively Dodge//SRT products, including Dodge Challenger and Charger SRT Hellcat models, the 840-horsepower Challenger SRT Demon – the industry’s first and only street-legal production drag car and most powerful muscle car ever – as well as the Viper ACR.

* According to the Associated Press, NASCAR announced a $2 billion merger agreement with International Speedway Corporation (ISC). The deal is expected to close by the end of 2019. ISC is a leading promoter of motorsports activities, currently booking more than 100 racing events annually as well as numerous other related activities. International Speedway Corp owns 12 tracks that host NASCAR races, including Auto Club Speedway, Chicagoland Speedway, Darlington Raceway, Daytona International Speedway, Homestead-Miami Speedway, ISM Raceway, Kansas Speedway, Martinsville Speedway, Michigan International Speedway, Richmond Raceway, Talladega Superspeedway, and Watkins Glen International.

* We mourn the passing of former Formula One driver and three-time world champion Niki Lauda, who died at the age of 70. The Austrian died this week eight months after receiving a lung transplant. Lauda, who won titles in 1975, 1977 and 1984, was hugely admired, respected and liked within F1 after a remarkable career during which he won two titles for Ferrari and one for McLaren and came back from an horrific accident that left him severely burned and injured in 1976. He competed in 171 races and won 25. He also actively pursued business interests including his own airline and went on to have senior roles in F1 management, most recently as non-executive chairman at the hugely successful Mercedes since 2012, where he helped bring Lewis Hamilton to the team.

* Today, Sunday, is the biggest day in motor sports. Â Start your day with the Monaco Grand Prix at 9:10 a.m. on ESPN, then turn to NBC, which will broadcast the Indianapolis 500 for the first time, starting at 11 a.m. Cap the day off with Nascar's Coca-Cola 600 on Fox at 6 p.m.

* Have a safe and fun filled Memorial Day weekend holiday as we officially enter the summer season of outdoor activity and backyard barbecues.