Dealership inventory back to normal.

Plus: Stellantis cuts, GM's Latest Recall, and more EV news.

April 28, 2023

Happy Friday morning. We’re back with another weekly email to keep you informed about what’s happening in the car world.

EV sales are going well but it’s coming at a cost, as we’ll get to with the latest news from Stellantis (owner of Dodge, Jeep, and Ram).

In today’s email:

  • Car dealership inventory is normalizing

  • GM teams up with Samsung

  • Stellantis cuts long-time employees

  • California’s ZEV sales

  • GM’s latest recall

  • Tesla price increases

📈 MARKETS

Note: Stock data as of Thursday’s market close.

📰 HEADLINES

Car dealership inventory is back to pre-Covid levels, according to Kelly Blue Book. The changes are not consistent across all dealerships, but overall supply equilibrium is leading to price drops. (Read more)

GM pairs up with Samsung to invest $3 billion to build a U.S. battery plant in an effort to diversify its EV material supply chain. (Read more)

Stellantis offers buyouts to 31,000 hourly and 2,500 salaried American workers to reduce costs. A company memo from the COO states "…the cost of electrification cannot be passed on to the customer." (Read more)

California hits its zero-emission vehicle (ZEV) sales goal earlier than expected. Two years early to be exact. (Read more)

GM recalls over 40,000 trucks citing fire risk from a potential brake fluid leak. Affected vehicles span model years 2019-2023 and include 4500HD, 5500HD, and 6500HD trucks. (Read more)

Tesla raises the prices of its higher-end Model S and Model X cars by $2,500 after first-quarter reports. (Read more)

EV demand is growing and is expected to increase by 35% in 2023. (Read more)

😎 COOL CARS FOR SALE

1987 BMW 635 CSi: 82k miles, beautiful interior.
1970 Plymouth 'Cuda: Rotisserie restoration, pistol-grip shifter.
2005 Honda S2000: Convertible, 6-speed manual.
1981 DeLorean DMC-12: One owner, low mileage.
2023 Ford F-150 Raptor R: 54 miles, supercharged V8.

😂 FUNNIES

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

Have feedback or want to get in touch? Send us a note on Twitter (@CarAlerts). We’d love to hear from you.