For so-called "traditional" automakers, Detroit's Big Three have spent considerable resources over the past few months upending their conventional business models.
Car enthusiasts don't buy sports cars to stay in the slow lane. But given that the allure of higher speeds and bolder performance might lead to faster and more aggressive driving, they might think manufacturers have outfitted these cars with stringent safety protections.
At least two prominent billionaires believe the arrival of self-driving cars will eventually spell the end of the auto insurance industry. Speaking on CNBC's "Squawk Box" on Monday morning, Warren Buffett and Bill Gates said they believe autonomous vehicles will upend car insurers.
Ford posted record profits in the first quarter of 2016, the company announced Thursday. Chief financial officer Bob Shanks said Ford enjoyed its best quarterly performance in history, generating operating profits of $3.8 biliion and a record profit margin of 9.8 percent.
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