Photo: Alexander-93 / Wikimedia Commons, CC BY-SA 4.0

In today's issue:

  • Lucid says bankruptcy talk is fake while its May registrations collapse to 721 vehicles

  • BMW tells nearly 30,000 PHEV owners to park outside, away from the house

  • VW's cheapest EV yet undercuts the Renault 4 and Ford Puma on price

EV CASH CRUNCH

  • Shares fell as much as 57% intraday Tuesday, hitting $2.37, before clawing back to close down 16.2% at $4.62, after reports the EV maker was weighing bankruptcy or a take-private deal, per Barron's and Automotive World.

  • Lucid called the reports "completely false" in a July 14 SEC filing, per Just Auto, and says it has "sufficient liquidity to carry its operations well into next year."

  • Lucid sent a cease-and-desist letter to the blogger behind @EV_carba demanding a retraction and copied to outside litigation counsel; AutoGuide's own headline calls it a lawsuit, but the letter itself only threatens legal action, per AutoGuide.

  • Separately, Lucid hired AlixPartners to run a turnaround after a new CEO took over last month, per Financial Times and Automotive News.

  • May U.S. registrations were 721 vehicles, per Automotive News.

Lucid can send every cease-and-desist letter it wants and still be a company registering fewer cars a month than a busy Toyota store sells in a weekend. The turnaround hire and the registration number tell the same story the denial doesn't.

Also worth knowing

Alfa Romeo Teases Tonale Replacement: The new C-SUV debuts Q4 2027, built in Melfi on the STLA Medium platform with hybrid and EV options, per Autoblog, Carscoops, and Automotive News Europe. #enthusiast

Corolla Hatchback Holds the Line Under $25K: The 2027 model adds a standard 7-inch digital gauge cluster and an optional 12.3-inch display but drops the sporty FX trim, per Autoblog and Toyota's pressroom. Average new-vehicle transaction price sits at $49,758, per CBT News, making a sub-$25K Toyota an outlier, not the norm. #market

BMW's US Sales Architect Retires: Shaun Bugbee, EVP of operations since 2017, exits as BMW closes a seven-year streak as America's top-selling luxury brand, per Automotive News. #analyst

Reveals & culture

BMW's Electric M3 Keeps Its Name: M boss Frank van Meel confirmed the quad-motor EV skips the rumored "iM3" badge and sells alongside a visually similar inline-six sedan, per Carscoops, Motor1, and Autoblog.

VW's ID. Cross Undercuts the Competition on Price: The electric T-Cross successor starts at €28,000 with up to 271 miles of range on a 52-kWh pack, aimed squarely at the Renault 4 and Ford Puma, per Automotive News Europe and Motor1.

GMC Brings Back the Yellow H2 Paint: The 2027 Hummer EV ICON | 25 package revives the original 2002 H2's signature yellow for the nameplate's 25th anniversary, per Car and Driver and GM's pressroom.

BMW Tells 29,119 PHEV Owners to Park Outside: Affected 2016-2020 330e, 530e, and 740Le models can suffer a corroded starter relay that short-circuits and ignites, per Road & Track and BMWBLOG, citing field fires including one prior 3 Series incident. → If you own one: Park outside and away from structures until BMW completes the repair.

NHTSA Reopens Honda Odyssey Airbag Scrutiny: A defect-petition review now covers 806,963 Odysseys after complaints of airbags deploying without a crash, following a prior 325,000-unit rearview-camera recall, per Autoblog. → If you own one: File a complaint with NHTSA if you've had an unexplained deployment; petition reviews escalate faster with more reports on record.

Buyer Sues Ford Over a Cut of Its $1.3B Tariff Refund: The suit claims Ford should pass along part of the government's tariff refund to customers who paid tariff-inflated prices, per Autoblog. If it survives dismissal, every automaker collecting a tariff refund now has a template lawsuit to worry about.

Ford's Anti-Theft App Locks Out Thieves With a Fingerprint: The feature targets the F-150, among the most-stolen trucks in the U.S. and Canada, per Automotive News.

BaT's $6.825 Million Ferrari Sale Gets Weirder on a Second Look: The week's top online auction result came from Bring a Trailer, per The Daily Vroom.

SK On and Hyundai Start Georgia Battery Cell Production: The joint venture begins domestic cell output as both companies look to reduce China-linked supply exposure, per Electrive.

USMCA Talks Resume in Mexico City: U.S. and Mexican officials meet the week of July 20 to renegotiate automotive rules of origin and tariff rates, per Automotive News.

Yesterday's picks

California's $270M EV Law Pays You at the Dealer, Not at Tax Time: California's new $270M point-of-sale EV rebate replaces the dead federal credit, with Rivian and Lucid getting special treatment while Tesla is sidelined.

VW Confirms 50,000 More Job Cuts, Jetta and Porsche Taycan Said to Be on the Chopping Block: VW's overhaul targets up to 100,000 total job cuts and could kill the Jetta and Taycan, with model cuts not requiring board approval.

EV Prices Fall for the Sixth Straight Period as Buyers Shift to Cheaper SUVs: New EV transaction prices dropped for a sixth consecutive month while Q2 EV sales hit their highest level since the federal tax credit ended.

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