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USPS releases hot rod stamps to speed up your delivery

After one of the worst winters in recent memory for much of the country, summer is finally here. It's time to drop the top, open the sunroof or at least put down the windows and take a long drive. The United States Postal Service is celebrating the season's sun in automotive style with two new hot rod Forever stamps.
Both stamps depict classic '32 Ford hot rods. One shows the car from the front at a low angle in red (pictured above), while the other depicts the car from the back in black with flames running down the side.
To introduce the new stamps on their first day of availability, the USPS went straight to the source at the National Street Rod Association Street Rod Nationals in York, PA. They were unveiled by Postmaster General Patrick Donahoe, Car Crazy host Barry Meguiar and NSRA Special Events Director Jerry Kennedy.

Ford board pushing Mulally for decision amidst fears story is drowning out other news

Automakers and their executives rarely like to divulge information regarding future goings on, but the board of directors at Ford sound like they're getting a little antsy about chief executive officer Alan Mulally and his plans for 2014.
According to Reuters, as news of Mulally's possible departure to Microsoft continues to swirl, Ford's board is looking to push the affable executive to make a decision about his future sooner rather than later. Apparently, the board is growing concerned that this will-he/won't-he drama may end up distracting the media from covering Ford's other big news events next year - items like the debut of key all-new products like the Mustang and F-150.
So far, the picture for Mulally's eventual successor remains fuzzy, but it's understood that the leading candidate remains the company's chief operating officer, Mark Fields. Just recently, we heard that Mulally will stay until the end of 2014, but a few months ago, Ford seemed open to the idea of him stepping down earlier than that.

The next steps automakers could take after sales drop again in April

DETROIT (Reuters) - Major automakers on Tuesday posted declines in U.S. new vehicle sales for April in a sign the long boom cycle that lifted the American auto industry to record sales last year is losing steam, sending carmaker stocks down. The drop in sales versus April 2016 came on the heels of a disappointing March, which automakers had shrugged off as just a bad month. But two straight weak months has heightened Wall Street worries the cyclical industry is on a downward swing after a nearly uninterrupted boom since the Great Recession's end in 2010. Auto sales were a drag on U.S. first-quarter gross domestic product, with the economy growing at an annual rate of just 0.7 percent according to an advance estimate published by the Commerce Department last Friday. Excluding the auto sector the GDP growth rate would have been 1.2 percent. Industry consultant Autodata put the industry's seasonally adjusted annualized rate of sales at 16.88 million units for April, below the average of 17.2 million units predicted by analysts polled by Reuters. General Motors Co shares fell 2.9 percent while Ford Motor Co slid 4.3 percent and Fiat Chrysler Automobiles NV's U.S.-traded shares tumbled 4.2 percent. The U.S. auto industry faces multiple challenges. Sales are slipping and vehicle inventory levels have risen even as carmakers have hiked discounts to lure customers. A flood of used vehicles from the boom cycle are increasingly competing with new cars. The question for automakers: How much and for how long to curtail production this summer, which will result in worker layoffs? To bring down stocks of unsold vehicles, the Detroit automakers need to cut production, and offer more discounts without creating "an incentives war," said Mark Wakefield, head of the North American automotive practice for AlixPartners in Southfield, Michigan. "We see multiple weeks (of production) being taken out on the car side," he said, "and some softness on the truck side." Rival automakers will be watching each other to see if one is cutting prices to gain market share from another, he said, instead of just clearing inventory. INVESTORS DIGEST BAD NEWS Just last week GM reported a record first-quarter profit, but that had almost zero impact on the automaker's stock. The iconic carmaker, whose own interest was once conflated with that of America's, has slipped behind luxury carmaker Tesla Inc in terms of valuation.