Increasing prices and bankruptcy

Plus: Audi exec's confession, BMW's Latest Recall, and more EV news.

May 05, 2023

Happy Friday morning. We’re back with another loaded email to get you up to speed with the past week in cars.

In today’s edition:

  • Lordstown Motors nears bankruptcy

  • Low inventory and high prices becoming the norm

  • Audi executive pleads guilty

  • Porsche to raise prices

  • HIF Global going big in Texas

  • BMW’s latest recall

  • Ford facing a class-action lawsuit

  • and more EV-related news

📈 MARKETS

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

📰 HEADLINES

Lordstown Motors, the Ohio-based electric truck manufacturer, is on the verge of bankruptcy. (Read more)

High prices may become the new normal as manufacturers actively suppress inventory to continue selling cars at elevated prices. (Read more)

Porsche is increasing prices to fight higher costs after seeing Q1 revenue increase by 25%. (Read more)

Former Audi executive, Rupert Stadler, is to accept a plea deal for his involvement in an emissions cheating scandal. (Read more)

A growing number of Americans dislike EVs according to the results of JD Power’s latest survey. (Read more)

HIF Global approved to begin construction of the world’s largest e-fuels production facility in Texas in 2024. (Read more)

Ford is the target of a class-action lawsuit involving their 10-speed automatic transmission, the 10R80. The lawsuit alleges safety concerns caused by harsh shifting and clunking between gears. (Read more)

BMW issues an “urgent, lifesaving” recall of 90,000 cars equipped with Takata airbags at risk of exploding and sending shrapnel into the cabin. Affected vehicles include E46, E39, and E53 models. (Read more)

Texas EV owners are facing a $200 annual registration fee, making Texas one of more than a dozen states to implement a similar tax. (Read more)

NYPD is urging residents to hide AirTags (tracking devices made by Apple) inside of their vehicles to help law enforcement recover their cars if they’re stolen. (Read more)

😎 COOL CARS FOR SALE

2006 BMW M3: Dinan upgrades, 6-speed.
1985 Mercedes-Benz 420 SEC: European-market car, well-maintained.
1991 Lancia Delta Integrale Evo 1: Rally legend, imported from Japan.
1969 Ford Bronco: Restomod, powered by Coyote V8.
1976 Jaguar XJ12C: Limited production, V12.
2002 Isuzu Rodeo S: Low-mileage, manual transmission.

😂 FUNNIES

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

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