A unique collection of 16 Corvette Indianapolis 500 pace cars will be offered as a single lot at the Mecum Indianapolis auction on May 15-20. Get all the latest auto industry news in the Executive Briefing.

Today’s Headlines: 

+   Ford announced plans to phase out all its Ford-branded passenger cars except the Mustang and Focus Active as consumers migrate to crossovers and SUVs. More at National Public Radio.

+   General Motors reported a net income of $1.05 billion and $2.6 billion in operating profits in the first quarter of 2018, down 26.6 percent from the same period last year. More at The Detroit News. 

+   At the Beijing Auto Show, Fiat Chrysler Automobiles unveiled the Jeep Grand Commander, a three-row luxury SUV that is so far intended for China only. More at Motor Authority.

+   NASCAR driver Matt Kenseth has ditched retirement to race at selected events for Roush Fenway Racing, joined by fellow Roush alumnus Mark Martin in a consulting role. More at The Salt Lake Tribune. 

+   U.S. auto sales figures for April are likely to decline nearly 8 percent versus 2017 despite big discounts, industry consultants J.D. Power and LMC Automotive reported. More at CNBC. 

+   Toyota will invest $170 million and add 400 workers at its Blue Springs, Mississippi assembly plant to produce the next generation of the Corolla sedan due in 2019. More at the Jackson Clarion Ledger. 

+   Ford of Australia has agreed to pay a $10 million fine over its handling of owner complaints about rough operation in its Powershift dual-clutch transmissions. More at Australia’s ABC News. 

+   Sally DeLorean, the widow of John DeLorean, is taking Universal Studios to court over royalties she says are owed in the use of the DeLorean car in the Back to the Future movies. More at USA Today. 

+   A complete group of Corvette Indy 500 pace cars collected by Fort Wayne businessman Keith Busse will be offered at the Mecum Indianapolis auction next month. More at Hemmings Daily. 

+   Former Champ Car driver and current Porsche factory endurance ace Neel Jani says he would welcome a chance to drive in the Verizon IndyCar series in the United States. More at Racer. 

Review the previous Executive Briefing from April 23 here.

Photo courtesy of Mecum Auctions. 

Have you joined Mac’s Motor City Garage on Facebook? It’s lots of fun with rare photos, lore, trivia, and great discussions. Click here to go the page and join MCG. Be sure to check out our companion Facebook group MOTOROLOGY, too.