Car manufacturer stocks crumble while parts suppliers set all-time highs.

Happy Friday morning. We’re back with another curated email to keep you up-to-date with the car world.

First, a quick stock market update. Auto manufacturer stocks, led by Tesla, took a nosedive yesterday. Meanwhile, parts suppliers like AutoZone and O’Reilly continued to make new highs.

Now, for the other good stuff. In today’s edition:

• Car stocks plummet

• EV tax credits

• Chinese EVs on the rise

• California’s ports going green

• Porsche’s record sales

• Goodbye Land Rover

• Dodge’s latest recall

📈 MARKETS

📰 HEADLINES

Tesla stock fell 9.75% on Thursday as consecutive price cuts and reduced margins frightened investors. The short-term volatility is a side effect of Elon's long-term strategy prioritizing growth over profit. (Read here)

The updated EV tax credit list prioritizes US manufacturing to cut battery supply chain dependence on China. BMW, Nissan, and Volkswagen are among the brands that lost credit. (Read here)

Chinese EV manufacturers are seeing rapid growth, led by BYD whose sales rose 69%, overtaking Volkswagen and Toyota. (Read more)

California’s seaports are new targets of green disruption as the state plans to replace diesel trucks with electric alternatives by 2035. The changes are attracting big-time investors to build out the charging infrastructure. (Read here)

Porsche's first-quarter US sales are up over 30% as the German manufacturer delivered 80,767 vehicles worldwide. The Cayenne and Macan SUVs led the way as the most popular models. (Read here)

Jaguar Land Rover is phasing out the historic "Land Rover" brand name, grouping future vehicles under three umbrellas — Range Rover, Defender, and Discovery. (Read here)

Dodge recalls 131,700 Ram 1500 pickup trucks over stalling concerns in their 5.7-liter Hemi V8 eTorque engine. The affected trucks were built from June 2020 to September 2021. (Read here)

😎 COOL CARS FOR SALE

2011 Audi R8: Low mileage, v10, gated 6-speed manual.
2014 Chevrolet SS: Sleeper powered by an LS3 V8.
1978 Ford Bronco: “Free Wheeling Edition”, modern upgrades.
1985 Zimmer Golden Spirit: Unique styling, low mileage.
1959 Chevrolet Corvette: Classic Americana, 3-speed manual.
1991 Nissan 300ZX: Twin turbo, black on black.

😂 FUNNIES

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

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