Cybertruck rivals F-150 Lightning, vehicle repos surge, no. 1 Ford dealership sold

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— CDG

1. Tesla Cybertruck races past F-150 Lightning in Q2

Tesla sold an estimated 8,755 Cybertrucks during the second quarter according to Cox Automotive, placing it ahead of the F-150 Lightning by about 853 units.

Buton a year-to-date basis, the F-150 Lightning remains ahead of the Cybertruck by nearly 4,100 units. Can Tesla continue closing the sales gap despite the Cybertruck’s six-figure price tag? … Read more

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2. Vehicle repossessions jump 23% over the past year

The automotive industry finds itself in a perfect storm for repossessions. Between high prices and burdensome interest rates, people are struggling to make ends meet.

By the numbers: According to data from Cox Automotive (reported by Bloomberg), repossessions have increased 14% compared to before the pandemic. What’s behind the surge? … Read more

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3. No. 1 Ford dealership, Bill Brown Ford, sold to Penske Automotive

Penske Automotive Group has purchased the world’s top-selling Ford dealership, Bill Brown Ford of Livonia, Michigan, marking one of the year’s biggest retail auto acquisitions.

Penske is one of the U.S.’s largest dealership groups int he country and estimates the acquisition will bring in an additional $550 million in annual revenue … Read more

• The U.S. plans to issue proposed rules limiting Chinese vehicle software in August.

• Stellantis eyes old golf course for massive parts warehouse in Michigan.

• Why heavy discounts on leases could mean losses for automakers.

• Lucid claims Air Pure raises the bar for efficiency.

• Tesla launches new Cybertruck tailgate shield and jumpseats.

Thanks for reading everyone.

— CDG