Photo: Jerry Perez / The Drive
In today's issue:
Ferrari confirmed its EV hit a sales target it has never published
A single starter motor defect just pulled in 318,495 BMWs and Toyotas
Genesis prices its first Magma EV $10,000 above the car it's supposed to beat
THE TARGET NOBODY WILL PUT A NUMBER ON
On this morning's half-year earnings call, Ferrari said it had reached its 2026 sales target for the Luce, its first EV, but gave no order, deposit or volume figures, per The Drive.
The only number in circulation is the Financial Times': just under 500 units, filled in less than two months since the car's May 25 launch, citing people familiar with the matter. Ferrari's press office declined to comment on it, per Automotive News.
The Luce costs €550,000 ($626,285), and demand was strongest in China, per Automotive News and Reuters via The Drive.
The styling that drew months of ridicule is largely the work of former Apple designers Jony Ive and Marc Newson, per Automotive News. Former chairman Luca di Montezemolo publicly slammed the car, per The Drive. A senior Ferrari executive said last month the look was dictated by aerodynamic requirements and "needed to be digested" before it can be understood.
Ferrari raised full-year guidance to at least €2.97 billion ($3.41 billion) in adjusted earnings on the strength of the €3.6 million F80 and a pricier Purosangue, with Q2 adjusted EBITDA of €755 million beating forecasts, per Automotive News.
So the milestone is a company announcing it cleared a bar it has never shown anyone. The number that does the work today is the other one: a €3.6 million supercar limited to 799 cars is what raised the guidance, and those buyers are funding the EV whether the Luce finds an audience or not.
Also worth knowing
Photo: Zoox
Zoox clears the last federal hurdle before charging for robotaxi rides: NHTSA granted Zoox the first-ever Part 555 commercial exemption for a purpose-built robotaxi with no steering wheel, per TechCrunch and Zoox's own newsroom. The Amazon-owned company says it can now move toward charging fares, and is still completing requirements with regulators in Nevada and California, where it operates today. #news
6,000 Audi workers protest a plant they fear won't survive VW's overhaul: Workers rallied at Audi's Neckarsulm site, which builds the A5, A6, A8 and e-tron GT, after parent Volkswagen flagged it as a candidate for closure amid a broader restructuring, per Automotive News and Carscoops. #news
Carvana posts record Q2 as its new-car experiment starts paying: Carvana reported record Q2 net income of $513 million and record revenue of more than $7.3 billion, and CEO Ernie Garcia said of the seven Chrysler-Dodge-Jeep-Ram dealerships it has acquired since February 2025: "New cars are profitable for us today, but beyond that, there's not a ton of detail that we're ready to provide," per Automotive News. #market
Kia bets $649 million that Mexico still makes sense for EVs: Kia will invest $649 million to build the EV3 at its Nuevo León plant starting August 4, per CBT News and Just Auto, even as the White House downplays USMCA renewal and floats tighter North American content rules. #analyst
Reveals & culture
Photo: Mercedes-Benz
Mercedes redesigns the GLA around a screen and a battery: The 2028 GLA splits into hybrid and fully electric variants, with the electric 250+ and 350 4MATIC both running an 85-kWh pack that switches between 400- and 800-volt charging and peaks at 320 kW, per Kelley Blue Book. Mercedes claims just over 400 miles on Europe's WLTP cycle for the 250+. US arrival is set for the second half of 2027.
Photo: Genesis
Genesis prices its first Magma at $69,950, and only three states get one: The 641-hp GV60 Magma starts $17,425 above the base GV60 and $10,050 above Hyundai's Ioniq 5 N, per Car and Driver and Autoblog, and it launches only in California, New York and New Jersey per Carscoops.
Photo: The Autopian
Someone built a wood-bodied Beetle and it's still cheap: A Volkswagen Beetle veneered entirely in wood panels is up for auction, per The Autopian, proof that the Beetle's cheap, boxy simplicity still invites the strangest customization ideas five decades on.
Recalls & legal action
Photo: BMW
318,495 BMWs and Toyotas recalled over starter motors that can catch fire: The recall covers 2023-2024 Toyota Supras and multiple BMW models including the 2 Series, 5 Series and Z4, whose shared starter motor can overheat, per Kelley Blue Book and We Talk Cars. → If you own one: Check your VIN at NHTSA.gov now and avoid parking the car in an enclosed garage until the dealer inspects the starter.
Quick links
Photo: Ram
Ram's V8 street truck comeback starts under $63K: The 2027 Ram 1500 Rumble Bee starts at $62,790 including destination, with a supercharged 777-hp SRT version above it, per Kelley Blue Book and AutoGuide.
Stellantis swings back to profit, but Europe sold more and earned the same: Q2 net revenue rose 13% to €43.5 billion and net profit came in at €0.3 billion against a €1.9 billion loss a year ago, led by North America, where shipments rose 38%. Enlarged Europe shipped 5% more cars on the Fiat Grande Panda, Citroën C3 Aircross and Leapmotor T03, and still posted flat revenue, with the gain "offset by negative net pricing," per Just Auto.
Photo: Waymo
Waymo's Gemini upgrade goes to the Chinese-built car, not the Jaguars: Riders can now adjust climate and ask questions by voice through Google's Gemini, but only in the Zeekr-built Ojai, which was designed as a robotaxi from the outset and gets its Waymo hardware after reaching the US. The converted Jaguar I-Paces are "missing out" on the update, per Carscoops.
Shaq's one-off electric coupe just turned up in a salvage yard: A custom-built EV made for the 7-foot-1 O'Neal was spotted abandoned in a salvage lot, per Autoblog.
GMC lands below the industry average on quality: Infotainment glitches remain the top industry-wide complaint in J.D. Power's 2026 Initial Quality Study, and GMC scored below the segment average, per GM Authority.
Yesterday's picks
Ford Pro Was the Profit Engine. This Quarter Ford Blue Did the Work.: Ford Blue's 72% profit surge and raised full-year guidance signal a strategic pivot back toward gas and hybrids as EV plans retreat.
BMW is cutting 8,000 jobs the same week it added a shift for the iX3: China deliveries fell 20% in H1, driving 8,000 German job cuts even as Neue Klasse demand forces a second iX3 shift.
Audi's biggest SUV ever starts at $89,095, and it's too big for London: Audi's first full-size SUV starts at $89,095 with no US production, leaving the flagship exposed to the same tariffs it's meant to outrun, and it is officially too large for London, per Top Gear.
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