In today's issue:

The Ferrari Luce launched as the most controversial production car in Maranello's history, per Automotive News Europe. The sharpest critic isn't a disappointed enthusiast. It's a former Ferrari chairman now on the board of McLaren, a direct competitor. Lamborghini's CEO timed his response to maximum effect, and the two Italian supercar makers now hold opposite public positions on electrification timing as a competitive differentiator.

Off-lease flood incoming, used prices already up 3.1% in May: About 500,000 more off-lease vehicles are expected to enter the market this year versus last, a 26% year-over-year jump per Edmunds data cited by Auto Remarketing, with another 400,000 units arriving in 2027. Despite rising supply, used retail prices still climbed 3.1% in May, per Car Dealership Guy, as buyers priced out of new vehicles keep demand elevated. #market

Porsche's new CEO targets half the volume his predecessor chased: The brand spent years pursuing 400,000 annual sales; its new CEO is now weighing production and job cuts to recover margins, per Carscoops. Porsche never reached that volume target, but the formal public reversal of its growth-first strategy marks a clean break from the prior playbook. #analyst

One million new-car buyers are gone and not coming back soon: WSJ reports that a sizable segment of the US market has been permanently priced out of new vehicles, with automakers now explicitly targeting cash buyers over volume. The K-shaped outcome: brands are making more money on fewer cars, while the buyers who left are staying gone, per WSJ. #market

USMCA formal talks launched, content rules are the fight: The US and Mexico formally opened trade negotiations with Washington pushing for stricter automotive domestic-content requirements, per CBT News and Reuters. Automakers have already moved: Mazda relocated Mazda3 production back to Japan, Stellantis shelved the Dodge Hornet and Charger Daytona R/T, and every US-market brand is "bleeding money and ripping up future plans," per Automotive News Europe. #analyst

2026 Lexus ES first drives: gas is gone, EV takes flagship duties: The redesigned eighth-generation ES drops gas-only powertrains entirely, arriving as an ES350h hybrid or ES500e EV on a new platform, per The Drive, Car and Driver, MotorTrend, and Kelley Blue Book in simultaneous reviews. Car and Driver noted the EV variant is attempting to cover duties left by the departing LS sedan at a "surprisingly low price point."

Gucci Racing Alpine from 2027: Alpine will race as "Gucci Racing Alpine Formula One Team" starting in the 2027 FIA season, the first luxury fashion house title sponsorship in F1 history, replacing BWT, per Motorsport.com, The Race, Autosport, and The Drive. No livery has been shown yet.

Rivian R2: orders open June 9, first deliveries within two to six weeks: Rivian confirmed the R2 launch date, opened the configurator (spare tire: $755), and committed to deliveries within two to six weeks of order placement, per Autoblog, Electrek, Carscoops, and TechCrunch. CEO RJ Scaringe called it "maybe the most important thing we've launched to date."

Toyota recalls 82,000 vehicles over blanking driver display: A software defect can black out the 12.3-inch combination meter display in 2024-2025 Toyota Land Cruiser, Mirai, Lexus UX, and GX vehicles, removing warning gauges and critical driver information, per Toyota's pressroom, Autoblog, and CarComplaints.

NHTSA opens Rivian probe on nearly 115,000 vehicles: Federal safety regulators launched a preliminary investigation into rear toe links that can separate from the vehicle while driving on R1T and R1S trucks and SUVs, per The Drive and Reuters. A preliminary probe can escalate to a mandatory recall.

North Carolina sues VinFast over unbuilt $3B factory: The state filed suit to reclaim a megasite provided for VinFast's promised EV and battery plant, which was never built, per WardsAuto and CBT News. North Carolina says the action is meant to protect taxpayer money tied to the delayed project.

Ford Transit Trail lawsuit: A Connecticut owner who paid $80,000 for the off-road-marketed van filed suit claiming Ford's own recall fix made the truck worse, per Autoblog and CarComplaints.

NIO ES9 launches in China from $54K with battery subscription: The 697 hp, three-row, 17.6-foot flagship went on sale at RMB 390,000 with battery rental, nearly 6% below its pre-sales price, per Electrek and CnEVPost.

Dodge Copperhead SRT reportedly not V8, not Charger-based: New reporting contradicts last week's tease framing: the Copperhead is expected to use a different platform than the current Charger and may not carry a V8, positioning it closer to a Corvette rival than a muscle car sequel, per The Drive.

Volvo gets US authorization to keep importing connected vehicles: The Trump administration granted Volvo a specific exemption to continue selling vehicles with connected-car technology tied to its Chinese ownership, per Reuters and Car and Driver.

Group 1 Automotive cut 700 jobs in Q1: The major dealer group trimmed headcount amid economic uncertainty and softening retail conditions, per WardsAuto.

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Sources: Carscoops · Motor1 · Autoblog · Automotive News Europe · CNBC · Auto Remarketing · CBT News · Automotive News Europe (tariffs) · The Drive · Car and Driver · Motorsport.com · The Race · Autoblog (Rivian) · Electrek · Carscoops (Rivian) · Toyota Pressroom · Autoblog (Toyota) · The Drive (NHTSA) · WardsAuto (VinFast) · CBT News (VinFast) · CarComplaints (Ford) · Electrek (NIO) · CnEVPost · WardsAuto (Group 1) · Carscoops (Porsche) · WSJ (new-car buyers) · The Drive (Copperhead) · Car and Driver (Volvo)