Finding a new home at $242,000, this 1953 Cadillac Eldorado was among the top 10 sellers at the RM Sotheby’s Ft. Lauderdale auction. Get all the latest auto industry news in the Executive Briefing.

Today’s Headlines: 

+   In response to declining small car sales, General Motors will eliminate one shift at its Lordstown, Ohio plant where the Chevy Cruze is produced, affecting hundreds of jobs. More at UPI.

+   Fiat Chrysler Automobiles is aiming to earn larger profit margins than Ford and General Motors in North America as soon as this year, says CEO Sergio Marchionne. More at The Detroit News. 

+   Volvo will introduce its first electric truck, the FL Electric model with 174 to 248 hp, a gross vehicle weight of 16 metric tons, and a range of 186 miles, in Europe next year. More at The Drive. 

+   The Scuderia Corsa IMSA team is laying the groundwork to turn its upcoming Indy 500 debut with Rahal Letterman Racing and driver Oriol Servia into a full-time IndyCar program. More at Racer. 

+   Volkswagen’s incoming chief executive Herbert Diess is expected to be appointed chairman of the Audi division’s supervisory board as well, sources at VW Group disclosed. More at Reuters. 

+   Jaguar Land Rover will eliminate around 1,000 jobs and reduce production at two UK factories due to uncertainty around Brexit and confusion over diesel policy. More at the UK Guardian. 

+   In an interview with Gayle King of CBS News, Tesla CEO Elon Musk conceded that an overdependence on robots over human workers has hampered production of the Tesla 3. More at Autoblog. 

+   The University of Michigan will begin operating a pair of self-driving 15-passenger Navya buses with electric power on its Ann Arbor North Campus later this month. More at the Detroit Free Press. 

+   The RM Auctions Fort Lauderdale 2018 auction at the Broward County Convention Center generated in $19.1 million in total sales and a 76 percent sell-through rate. More at Sports Car Digest. 

+   Better known for its classic off-road bikes, Swedish manufacturer Husqvarna is currently outselling supplies of its new line of highway motorcycles for North America. More at CNBC, 

+   Formula 1 championship leader Sebastian Vettel questioned the timing of the safety car period that compromised his race result in the Chinese Grand Prix. More at Motorsport.com. 

Review the previous Executive Briefing from April 13 here.

Photo courtesy of RM Sotheby’s. 

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