In today's issue:

The data shows California is not waiting on Washington: a signed law and $270 million in committed funds replace a dead federal credit before most buyers noticed it was gone. Whether $3,500 moves the needle in a state where new-car prices averaged just under $50,000 depends entirely on how quickly the program goes live.

Following up: VW Confirms 50,000 More Job Cuts, Jetta and Porsche Taycan Said to Be on the Chopping Block: CEO Oliver Blume told staff in an internal memo that VW's overhead runs roughly one-fifth higher than competitors, and that up to 50,000 additional global positions could go, pushing the total potential cut to 100,000, per Automotive News Europe and Just Auto; at the model level, reports now name the Volkswagen Jetta, Audi Q5 Sportback, and Porsche Taycan as candidates for cancellation, per Carscoops. Labor representatives on the supervisory board are blocking the deeper overhaul, but model cuts don't require board approval, per GoodCarBadCar, meaning the purge can proceed even as labor stalls the broader deal. #analyst

EV Prices Fall for the Sixth Straight Period as Buyers Shift to Cheaper SUVs: New-vehicle average transaction prices held below $50,000 in June at $49,758, even as sticker MSRPs climbed to $51,654, with buyers gravitating toward lower-priced compact SUVs and trucks, per CBT News; new EV transaction prices, distinct from the used-EV wholesale prices that spiked on gas costs earlier this month, dropped for the sixth consecutive month, even as FRED data shows the broader new-vehicle CPI held flat at 178.67 month-over-month, meaning new EV retail pricing is softening faster than the category overall. US Q2 EV sales also rebounded to their highest level since the federal tax credit ended, per InsideEVs, even as KBB reported that overall demand continues to shift toward hybrids. The gap between falling new EV transaction prices and rising hybrid premiums is now the market's central tension heading into H2. #market

Roush Crosses Enemy Lines With Its First Ram Truck, and It Costs Nearly $79K: Roush Performance, long synonymous with Ford tuning, has revealed the 2027 Ram 1500 Direct Connection by Roush, its first official collaboration with a Stellantis brand, per Carscoops and CarBuzz; the package adds coilover suspension, 18-inch wheels, and a Roush cat-back active exhaust to a Big Horn Crew Cab 4x4 with the 5.7-liter eTorque V8, but the engine itself gets no power bump. MotorTrend puts the price at nearly $79,000 before any supercharger option, making it a styling and hardware play rather than a horsepower story. #enthusiast

The Electric Lexus LFA Prototype Debuts at Goodwood, Production Confirmed for 2027: After years of teasers, Lexus made its reborn LFA's dynamic debut at the 2026 Goodwood Festival of Speed in prototype form, confirming a 2027 production date, per Drive.com.au and Paul Tan. The V10 is gone; the new car runs electric power with potential for next-generation solid-state battery tech, a trade that will generate debate far beyond the Goodwood hill.

The 2027 Jeep Wrangler Laredo Is a CJ-Era Name Back From the 1980s: The latest entry in Jeep's year-long Twelve 4 Twelve limited-edition series resurrects the Laredo badge, reviving an iconic trim from the 1980s, with 35-inch all-terrain tires, a 1-inch lift, brown leather interior accents, and a tan folding top, per MotorTrend and Carscoops. It's the Wrangler as a nostalgia object, which is exactly what sells.

Subaru Recalls 541,000 Vehicles for a Label Printing Error: The recall covers more than 541,000 US vehicles, not a mechanical defect but a misprint on an information label, per Autoblog. No driving risk has been identified. → If you own one: No immediate action required; Subaru will mail notification letters when corrected labels are ready.

Lamborghini's Fourth Model Will Be a PHEV Grand Tourer, Not an EV: Lamborghini has stepped back from the fully electric Lanzador concept and confirmed its next model will be a plug-in-hybrid grand tourer, per Autoblog.

Gordie Howe Bridge Opens July 27, Adding a Second Detroit-Windsor Auto Corridor: A US-Canada toll agreement cleared the final hurdle, with the new crossing set to open July 27 and relieve pressure on automotive supply chains running through the existing Ambassador Bridge, per CBT News and Wards Auto.

2026 Mercedes-Benz CLA250+ Tested: A Two-Speed Gearbox Changes the EV Efficiency Equation: Car and Driver tested the new electric CLA and found its two-speed transmission reduces motor spin at highway speeds for measurably better range, per Car and Driver, a hardware solution no other mainstream EV currently offers.

Yesterday's picks

Stellantis Shipped 38% More in North America. Sales Rose 5.7%.: Shipments growing nearly 7x faster than sales signals either surging demand or a looming inventory problem ahead of July 30 financials.

A Grand Jury Just Subpoenaed the UAW's Own Watchdog to Investigate Fain: DOJ escalates its UAW probe with a grand jury subpoena of the union's corruption monitor as presidential ballots loom in August.

Used Hybrid Prices Hit a Record as the New-Car Gap Reaches $21,000: Used hybrid prices hit $38,800 with sales up 34% YTD as the $21,000 new-to-used gap reshapes buyer behavior.

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