In today's issue:
Porsche AG
Porsche is cutting output and slimming its lineup after its 2022 IPO growth script broke down.
Ford just recalled 548,000 Expeditions over chrome console trim that can peel and injure occupants.
Tesla's fatal Texas crash is now under federal investigation.
IPO MATH
Porsche is cutting output, trimming its lineup, and seeking deeper cost reductions after falling short of several targets presented at its 2022 IPO, per Automotive News Europe and Just Auto.
The IPO asked investors to believe Porsche could increase volume and margins at the same time. Its new direction accepts a tradeoff: fewer cars and fewer variants in an effort to protect pricing and profitability, per Automotive News Europe.
That borrows from Ferrari's scarcity playbook - but it is harder to execute at Porsche's much greater scale, where factories and dealers depend on substantially more volume.
BMW issued its third profit warning in three years this week, per CBT News. Together, the two stories show how weak demand, high costs, and expensive technology transitions are breaking the European luxury sector's grow-everything-at-once model.
The luxury-growth pitch has quietly become a scarcity-and-savings strategy.
Also worth knowing
Toyota's RAV4 shortage is now a measurable sales problem: Toyota's model changeover and supply squeeze could cost tens of thousands of RAV4 sales this year, per Automotive News. Longo Toyota alone has more than 800 customers waiting, while Earl Stewart Toyota presold all 40 units it was offered, per Automotive News and Kelley Blue Book. #market
BYD is bringing eight debuts to Goodwood: BYD says it will bring eight debuts across three brands to Goodwood, including a festival-first focus on premium brand Denza, per BYD Europe Media. That is a larger European-stage product push than many legacy brands manage in a full quarter. #enthusiast
Tesla's Texas house crash is now a federal probe: NHTSA is investigating the Katy, Texas crash that killed 76-year-old Martha Avila after the driver said Autopilot was engaged, per CarComplaints, Autoblog, and Electrek. Tesla says its data shows the driver manually pushed the accelerator to 100% and the car reached 73 mph, per Carscoops and Teslarati. #news
Reveals & culture
Lamborghini revealed a Fenomeno roadster limited to 15 cars: Lamborghini's new Fenomeno roadster is limited to 15 cars, per Autoblog. Limited-run specials used to be a halo strategy; now they are also a design lab and margin machine.
Jeep confirms the Cherokee Trailhawk is coming back: Jeep teased the 2027 Cherokee Trailhawk with red tow hooks and Trail Rated hardware cues, per Car and Driver and Autoblog. It fills the most obvious credibility gap in a Cherokee relaunch that initially arrived without a Trailhawk.
Recalls & legal action
Ford recalls 548,000 Expeditions over chrome console trim that can peel and injure occupants: Chrome plating on the center console can bubble and peel over time, leaving sharp edges that have caused 65 injuries across 4,634 warranty claims, per WardsAuto. Notification letters go out June 29; full remedy by January 2027. → If you own one: Check your VIN at NHTSA or ford.com before the letter arrives.
Lincoln Nautilus recall hits hands-off warning function: Ford is recalling 1,013 model-year 2019 Lincoln Nautilus SUVs because the hands-off detection warning may fail after an incorrect software update tied to recall 19V-031, per Kelley Blue Book and Ford Authority. → If you own one: Check your VIN and schedule the software correction; until then, do not treat the hands-off warning as a substitute for staying attentive.
Kia Telluride windshield suit survives dismissal: A federal judge refused to dismiss a class action alleging 2020-2023 Kia Telluride windshields chip, crack, and break too easily, per CarComplaints. The ruling does not validate the allegations, but it allows owners to keep trying to prove them.
Quick links
Renault gave the Megane EV more range and a meaner face: The updated Megane E-Tech now claims up to 310 miles of range, per Motoring Research and Auto Express.
Corvette ZR1X just reset the Pikes Peak production mark: Chevrolet's 1,250-hp ZR1X ran Pikes Peak in 9:30.104, more than 23 seconds quicker than the previous production-car record, per Road & Track and Carscoops.
EU battery EV share hit 21.3% in May: Battery-electric vehicles reached 21.3% of EU registrations in May 2026, up from 15.3% in May 2025, per ACEA.
In case you missed yesterday
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