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🚗 Poof. $80 Billion gone

🚗 Poof. $80 Billion gone

Plus: Americans struggle with car ownership, Vroom pivots, recent recalls, and more.

January 26, 2024

Happy Friday morning. This is Car Alerts with your weekly recap of the latest car news and market happenings.

In today’s edition:

Tesla stock nosedives
Americans struggle with car ownership
Vroom pivots
Recent recalls
and more

MARKETS 📈

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

HEADLINES 📰

Americans can no longer afford their cars, according to CoPilot.

Tesla erases $80B in valuation after Musk's sales warning saying sales growth may be “notably lower”.

Vroom hits the brakes on its online used car business to go full throttle on auto financing and AI.

California bill would make state the first to require in-vehicle speed limiting devices.

Ford's new infotainment is a huge step up on its current systems.

Ford cuts F-150 Lightning production as EV demand softens.

Porsche’s second-ever EV will be an electric Macan SUV, starting at $80,450.

BMW under investigation for alleged emissions defeat device.

Toyota’s chairman doubles down on his electric car skepticism, forecasting that EV adoption will peak at just 30%

Laguna Seca Lawsuit: homeowners perplexed as iconic race track materializes overnight.

Ford says it's committed to V-8 Mustangs regardless of what others do.

Tesla plans to build new electric vehicles in mid-2025.

Lengthy Porsche Carrera GT stop-use order means several supercars still aren’t drivable.

Lotus can't sell Emiras because it still hasn't passed California emissions.

RECALLS

Toyota recalls about 50,000 older Corolla, Matrix and RAV4 vehicles with exploding airbags.

Land Rover recalls 60,000 SUVs because the rearview cameras can fail due to water intrusion.

Ford's latest recall affects 2.2MM Explorers.

BMW is recalling more than 5,200 electric vehicles because the artificial sound generators may fail.

Over 100,000 Kia Sportage and Carnival recalled due to potentially detaching roofs.

Nearly 14,000 model year 2022-2023 Mercedes-Benz Metris vans are recalled because they could stall from fuel pump failures.

A 2024 Mazda CX-90 steering recall involves nearly 44,000 SUVs because of problems with the steering worm gears.

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

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