In today's issue:

Tesla is simultaneously selling FSD as a safety advance and using that same safety claim to seek regulatory approval. The two reinforce each other only if the data holds up. Researchers in two countries say it doesn't.

Used-Car Listing Prices Hit Three-Year High as Sales Slow: Average used-vehicle listing prices climbed to $26,918 in May, the highest since mid-2023, per KBB. Retail sales fell 3.9% year over year even as inventory expanded 4% to 2.12 million units, per CBT News. Tariffs made new expensive; demand shifted to used; used got expensive. There's no next market down. #market

FTC Flags 'Ghost Listings' at Auto Dealers, Threatens Civil Penalties: Three months after warning 97 dealer groups about illegal advertising practices, the FTC is now targeting ghost listings, fake pricing, and fees buried in online inventory, per CBT News; Automotive News notes warning letters constitute documented notice, meaning future violations carry steep civil-penalty exposure. #news

VW is cutting costs. Stellantis is pivoting platforms. Germany is lobbying to soften EU tariffs before July 4. Three moves this week, one pressure: Chinese EVs are getting cheaper faster than European incumbents can restructure.

VW Secures 28,000 Voluntary Departures, German Factory Costs Down 20%: Volkswagen's restructuring program is on schedule through 2030, with more than 28,000 employee departures agreed and German factory costs already cut 20%, per Automotive News Europe. At the same session, VW, Stellantis, and Renault jointly lobbied Brussels for EU support on local parts sourcing. Cost cuts alone won't close the gap with Chinese rivals. #analyst

Stellantis Goes EV-Only for Next-Gen Minicars, Drops Multi-Energy Plan: Speaking in Brussels, Stellantis confirmed it is abandoning its multi-energy strategy for forthcoming E-Car minicars in favor of electric-only platforms, per Automotive News Europe. Stellantis spent two years arguing entry-level buyers need powertrain choice. Now it's going electric-only. #analyst

Germany Lobbying to Block New EU Tariffs on Chinese EVs Before July 4: Berlin is working to weaken a new round of EU tariffs on Chinese EVs set to formally take effect July 4, per China EV Home citing Bloomberg. The lobbying runs parallel to VW and Stellantis's cost and platform moves. Protection and restructuring in the same week, because neither alone is enough. #analyst

Chinese Brands Hit 28% of Mexico's Domestic Market Through May: Mexico built 1.64M vehicles through May and exports rose 4%, but Chinese-branded vehicles captured nearly 28% of the domestic market, per CBT News. China isn't just cheaper to build. It's already taking share in markets U.S. and European trade negotiators are watching closely. #market

Toyota Wins Le Mans for the Sixth Time, Corvette Ends Porsche's GT3 Run: The #7 Toyota GR010 Hybrid of Kobayashi, Conway, and de Vries crossed the line 10.913 seconds ahead of the #20 BMW at the 94th edition of the race, per Autocar India, returning Toyota to the top step for the first time in three years. In LMGT3, the Corvette Z06 GT3.R ended back-to-back Porsche victories, per Autoblog, with the win credited to a bold driver-stint strategy by TF Sport. #enthusiast

Alpina's Founding Family Built an 800-HP BMW M5 Wagon for €200,000: The Bovensiepen 05 GT is a full exterior redesign of the BMW M5 Touring with a titanium Akrapovic exhaust and a system output of up to 800 hp, priced at €198,900, per BMW Blog. Three outlets confirmed the reveal today, and The Autopian noted that the car's designer is also the man behind the new Mini. #enthusiast

Honda Recalls 880,000 SUVs Over Rear Wheels That Could Fall Off: Honda is recalling approximately 880,000 SUVs due to rear suspension corrosion that can cause the rear wheels to detach while driving, per Motor1 and Car Dealership Guy. → If you own one: Check NHTSA.gov with your VIN to confirm whether your vehicle is included and schedule dealer service immediately.

Ford Re-Recalls 255,000 Focus Models for Engine Stalls: Eight Years Later: Ford is re-recalling 255,404 Focus cars from model years 2012-2018 because Ford never finished the canister purge valve fix from 2018 (notice 18V735) on all affected vehicles, per KBB and CarComplaints. A separate re-recall covers approximately 4,150 F-150 trucks whose instrument cluster software update from the original recall was also never applied, per Carscoops. → If you own one: Ford Focus owners should check NHTSA.gov for the new recall number; F-150 owners should contact a Ford dealer to confirm the software update was completed.

Lamborghini Revuelto SV Rumored at 1,065 HP, Only 1,963 Units: The track-focused SV variant has been secretly previewed to VIP clients, per Autoblog, with the 1,963-unit production cap nodding to the founding year.

UAW Ends Two-Week Strike at Dauch Axle Supplier, 704-173 Vote: Local 2093 members ratified a new contract with Dauch Corp. at the Three Rivers, Michigan plant that supplies axles to GM trucks, per Automotive News.

Yesterday's picks

880,514 Honda and Acura SUVs and Trucks Recalled for Rear Subframe Corrosion That Can Cause Loss of Control: Safety recall affecting nearly 900K vehicles over suspension failure risk.

Japan's Automakers Have Already Absorbed $28B in U.S. Policy Costs. The Tab Reaches $40B by March 2027.: Tariffs and policy changes could cost Japanese automakers $40B by 2027.

New-Car Average Cools to $49,220 in May; Used Cars Top $30K for First Time Since 2023: Used car prices cross $30K as new vehicle transaction prices moderate.