Ford has filed a patent for self-driving cars that could in effect repossess themselves. Get all the latest auto industry news in the Executive Briefing.

Today’s headlines:

+   Tesla is developing a revamped version of its best-selling Model Y electric crossover  with a new interior and exterior that is expected to go into production in 2024 in China. More at Reuters.

+   Ford Motor Co.’s U.S. sales rose 22 percent in February compared to the same month last year, due to easing supply-chain issues and a healthier flow of new-vehicle inventory. More at The Detroit News. 

+   As part of an electrification program that began in December, the U.S. Postal Service ordered 9,250 Ford E-Transit battery-electric vans and is installing 14,000 charging stations. More at Car and Driver.  

+   Mercedes Formula 1 driver and seven-time world champion Lewis Hamilton says he is glad to see the Aston Martin team “fully in the fight” based on its preseason testing performance. More at Racer. 

+   Thieves successfully broke into Don Franklin Chrysler Dodge Jeep in Somerset, Kentucky and stole six new Dodge Challenger Hellcats valued at approximately $600,000. More at Jalopnik. 

+   General Motors is eliminating around 500 salaried positions in various areas around the company as part of a program to reduce overhead by $2 billion over the next two years. More at CNBC. 

+   Saudi oil giant Aramco has agreed to take up to a 20 percent stake in a joint venture between Renault and Geely of China to develop new internal-combustion engines. More at World Auto Forum. 

+   Vietnamese electric vehicle startup VinFast delivered its first 45 VF8 crossovers to customers in Marina Del Rey, California this week, reporting its first sales outside its home country. More at Autoblog. 

+   Ford Motor Co. has filed a patent for a self-driving vehicle system that could in effect allow the vehicle to repossess itself and become inoperable or return itself to the lender. More at The Drive. 

+   Tesla has officially begun to allow owners of non-Tesla electric vehicles to recharge at the automaker’s Supercharger stations at some of its 16,000 locations across the United States. More at CNET.

+   Trackhouse Racing and driver Ross Chastain are said to be the leading candidates to land the sponsorship from brewing giant Anheuser-Busch when Kevin Harvick retires at year’s end. More at Jayski.  

Photo courtesy of Volkswagen.  

Review the previous MCG Executive Briefing from February 27 here. 

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