Car stocks keep flying

Happy Friday morning. This is Car Alerts. We spend hours reading car news so you don’t have to. Awesome, right?

It was a busy week of news, along with the Consumer Price Index (CPI) data released on Tuesday. The markets reacted kindly, and car stocks resumed up.

This time, it was Nikola’s turn to go wild. The alternative-fuel truckmaker has rallied over 100% this week. It’s an impressive move considering they received a delisting notice from Nasdaq in late May.

Other notable stock mentions include Lordstown Motors and Carvana (which continued its rally from last week).

Now let’s get into the rest.

In today’s edition:

• CPI data

• Tesla short sellers lose big

• Ferrari wins Le Mans

• Latest investments from major automakers

• Lordstown Motors plans lawsuit

• Toyota’s new plan

• Porsche collabs with Xbox

• & more

📈 MARKETS

📰 HEADLINES

Tesla short sellers have lost over $6 Billion, according to S3 Partners (Read more)

CPI: Used car prices increased by 4.4% since last month and car insurance by 2%, according to the U.S. Department of Labor (Read more)

GM and Samsung are investing more than $3 billion to build an EV battery cell plant in Indiana (Read more)

Ferrari wins 24 Hours of Le Mans for the first time since 1965 (Read more)

Lordstown Motors considering suing Foxconn over funding issues (Read more)

U.S. tells automakers not to comply with Massachusetts vehicle data law (Read more)

Ford Explorer rear axle bolt fractures lead to a class action lawsuit (Read more)

Stellantis and Volkswagen back $1 billion deal to buy Brazilian copper/nickel mine (Read more)

Porsche 911 Classic Club Coupe sold for $1.2 million, a record price (Read more)

Nikola (the alternative-fuel truck producer) stock soars by over 70% in a week (Read more)

Toyota unveils plans for new battery technology to be more competitive with their EVs (Read more)

Porsche and Xbox celebrate Porsche’s 75th anniversary with six custom Series X consoles (Read more)

😎 COOL CARS FOR SALE

2002 Volkswagen Eurovan: Truck-conversion, comes with Vespa scooter.
2000 BMW Z3 M: Dinan tuned, under 30k miles.
1977 Chevrolet Corvette: 15k miles, well-maintained.
2002 Ferrari 575M Maranello: 6-speed gated manual.
1970 Chevrolet Chevelle Malibu: Twin turbo, Duramax diesel V8.
2003 BMW Z8 Alpina: Single owner, limited production.
2005 Dodge Ram 1500 SLT Rumble Bee: Low mileage, 5.7L V8.
2017 Volvo V60: 362-hp wagon, Polestar trim.

😂 FUNNIES

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

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