Welcome to the Daily 5 report for Friday, April 25.
For readers unfamiliar with the estate sales of the rich, famous and powerful, these events offer the public a chance to observe firsthand how folks at this level of social standing live.
Here in Detroit’s tony suburbs such as the Grosse Pointes or the Bloomfields, estate sales attract hundreds if not thousands of people looking for great bargains on ultraluxury home goods, art, clothing and other treasures. It’s also a cultural experience just to walk through the doors of these vast mansions.
Estate sales at the homes of retired or deceased auto executives are common, but it’s rare for the public to see inside the personal life of an industry titan such as the late Ford CEO Don Petersen, whose 9,000-square-foot home in Bloomfield Hills, Mich., is the scene of a huge estate sale all weekend. Petersen died a year ago at age 97.
Obituary: Don Petersen, CEO who steered Ford to success in late 1980s, dies at 97
For automotive enthusiasts and history buffs, this sale offers pieces of Petersen’s storied career at Ford. For general shoppers, it features a stunningly long list of artwork, furniture, designer clothing and other ultraluxury items.
Ironically, no cars are for sale.
At estate sales, the good stuff goes fast, but the bargains get better as the weekend progresses. AOM Estate Sales, which is handling the event, expects about 2,000 people to pass through the Petersen home over the weekend.
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In other news today, AutoNation Inc. was the latest dealership group to report first-quarter earnings. The company said net income slipped 8 percent in the quarter as it dealt with declines in gross profit per new vehicle and used-vehicle sales, as well as uncertainty about tariffs. Revenue improved 3 percent to $6.7 billion.
Meanwhile, Mazda Motor Corp. is enhancing passenger safety across its lineup as part of a goal to achieve zero fatalities in its vehicles by 2040. This story by Carly Schaffner details the automaker’s latest efforts. In March, Mazda received the most Top Safety Pick awards from the Insurance Institute for Highway Safety, which enhanced its criteria to include more stringent safety requirements in the rear seats, the story says.
And of course, we have several new stories about the U.S. tariff situation. This piece by John Irwin tells us how the May 3 round of tariffs on auto parts will work. The parts tariffs follow auto tariffs on vehicles, which became effective April 3, along with tariffs on steel and aluminum that the Trump administration imposed in March.
Read more: Live updates on tariff news and impacts
Looking ahead to next week, we hit the heart of first-quarter earnings season with several major reports due. General Motors will post its results Tuesday.
That’s it for now. Have a great weekend!
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— Philip Nussel, online editor
