🚗 Tesla in legal trouble

Happy Friday morning. This is Car Alerts with your weekly automotive market update and curated news report.

In today’s edition:

• Feds press Tesla for answers

• UAW negotiations continue

• Auto loan rates increase

• Government offers billions in EV incentives

• VinFast stock tumbles after gains

• and more

MARKETS 📈

HEADLINES 📰

NHTSA raises more concerns about Tesla’s Autopilot safety, demands explanation as Tesla prepares for first trial involving Autopilot fatality.

New auto loan rates are higher in August with average new up to 9.48% and used at 13.76%.

Auto workers want 40% pay increases, cause concerns about rising prices making it harder for Ford, GM, and Stellantis to compete with Tesla.

702-HP Ram 1500 TRX will go extinct at the end of this year.

U.S. offers $12 billion to automakers and suppliers for EVs and advanced vehicles.

Tesla is reportedly under investigation by the DOJ and SEC over use of funds for secret project.

Dodge muscle cars top list of most-stolen vehicles, according to the Highway Loss Data Institute.

Toyota plant shutdown on Tuesday during an update of the automaker's parts ordering system.

Fisker confirms Foxconn will build its $29,900 Pear EV, but questions remain.

Ford makes contract offer to United Auto Workers union.

General Motors to use Google AI chatbot for its OnStar service.

VinFast stock tumbles over 50%, and remains turbulent after parabolic run last week.

Battery firm Redwood Materials raises over $1 billion to expand U.S. operations.

European car sales rise 15% in July, EVs up nearly 61%.

Hyundai and LG to spend $2 billion more on Georgia battery plant.

Lewis Hamilton and Mercedes agree to multi-year contract extension.

RECALLS & LAWSUITS

Tesla lawsuit alleges unlawful and false advertising regarding free supercharging.

Regulators close Honda Accord steering investigation.

Ford axle shaft recall affects F-250 and F-350 trucks.

Kia trunk latch recall involves Rio and Optima vehicles.

Hyundai recalls 38,000 Elantra Hybrids that may accelerate when letting off the accelerator pedals.

That’s all we have for you this week. We’ll see you next Friday morning with more car content.

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