Fisker's bankruptcy, high car payments, myth busting EV fast charging

Hey everyone. The highly anticipated Cars.com American-Made Index is out — so you know we had to get Cars’ editor-in-chief Jenni Newman, on the CDG Podcast to talk about it.

Find out why automakers are building in the U.S. again, what brands make the most American cars, and what the heck is going on with production in Alabama. Check out the episode here.

— CDG

1. A sad, but predictable, end: Fisker files for bankruptcy

Electric vehicle startup Fisker has officially filed for bankruptcy, several months after warning investors it lacked the cash to make it through the year.

Why it matters: The Fisker “saga” underlines the challenges of being a newcomer in a highly competitive, capital-intensive industry. While many attempted to replicate Tesla’s seemingly effortless glide to the top, a litany of product delays and quality issues have prevented any startup from coming anywhere close … Read More

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2. How long will car payments remain high?

The average monthly payment declined 1% to $752, only $43 less than the peak in December 2022, according to Cox Auto. But, high prices, interest rates, and negative equity are keeping car payments near all-time highs.

Why it matters: Dealers will likely face continued pressure on their profits and will have to offer bigger discounts to attract consumers. Car buyers, on the other hand, still don't have meaningful relief on their monthly payments a likely won’t anytime soon … Read More

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3. The effects of fast EV charging: not what you'd expect

Fast charging might not be the death sentence for electric vehicle batteries we’ve been warned about.

What’s happening: Science (and common sense) tells us that fast charging a battery, whether in your phone or electric vehicle, is bad for its long-term health. New data collected from 13,000 Teslas and published by EV-focused insights platform Recurrent challenges this assumption … Read More

• Toyota Chairman Akio Toyoda and nine other members of the automaker's board were re-elected at an annual general meeting on Tuesday.

• Roughly a third of consumers refuse to buy a car that lacks smartphone integration, according to a new McKinsey & Co. consumer survey.

• Elon Musk claims he is working on ‘Tesla Master Plan Part 4’ – a second part of the on going master plan in as many years.

• New study finds cybersecurity as top concern among automotive manufacturers.

• Autonomous trucking startup Waabi has raised $200 million in an oversubscribed Series B funding round led by existing investors Uber and Khosla Ventures.

Thanks for reading everyone.

— CDG