In today's issue:

Filtered from 4,317 items published across 314 sources in the last 24 hours.

The money is small by Tesla's standards: Battle Road Research estimates 7,000 Roadsters at an average $280,000 in the first 12 months would bring in about $2 billion, around 2% of Tesla's projected 2027 revenue, and Musk has said he is not sure the car will move the needle on revenue, per CBT News. The last Roadster took $50,000 deposits in 2017, promised production in 2020 and never reached it, which is the history the 2028 date has to outrun.

Auto Credit Access Hits Its Highest Level Since 2015 as the Subprime Share Climbs to 17.4%: Cox Automotive's Dealertrack Credit Availability Index rose 1.9% in September to 107.1, its fifth straight monthly gain and the highest reading since April 2015, per Auto Remarketing. The subprime share of loans reached 17.4%, up 230 basis points from a year earlier, and 57.8% of contracts carried negative equity, against 52.4% a year ago. Down payments slipped to 12.8%, the lowest since September 2022. Lenders are earning less for the extra risk: the average contract rate rose 23 basis points to 11.22% while the five-year Treasury yield rose 42 basis points to 4.80%, so the yield spread narrowed to 6.42%. "Lenders are taking on more risk through a higher subprime share, longer terms and more negative equity, which raises potential losses if borrowers default, while earning a smaller spread over Treasury yields," said Cox's Scott Vanner. #market

Toyota Is Putting a Hybrid Lexus NX on Its Ontario Line From December While Detroit Shrinks in Canada: The updated, hybrid-only NX, which starts rolling out in December, joins the RAV4 and Lexus RX at Toyota's Cambridge, Ontario complex, and about 85% of what those plants build is exported, mostly to the U.S., per Automotive News, citing Bloomberg. Toyota's Canadian plants built 537,518 vehicles last year, more than any other automaker in the country, and Toyota put US$1.1 billion into the latest RAV4, which began production in January. "We're fully committed to making cars in Canada for the long-term," said Scott MacKenzie of Toyota Motor Manufacturing Canada. Canadian vehicle output has fallen from around 3 million in 2000 to 1.3 million in 2024. GM cut a shift at its truck plant outside Toronto and ended output at Ingersoll last year, Ford has narrowed its Canadian plant to heavy-duty trucks, and Honda scrapped a C$15 billion battery supply chain, while the White House has threatened 50% auto tariffs if there is no broader trade deal by Jan. 1. #analyst

Volvo Will Build Its Next Driver-Assist System on Nvidia, With Hands-Free City Driving Around 2030: Volvo is widening its Nvidia partnership to use the Hyperion sensor and computer platform and Nvidia's reasoning-based Alpamayo driving software, with the first release being supervised driving in which the driver stays responsible, Volvo's head of software engineering Alwin Bakkenes told Reuters, per CBT News. Hands-free city driving is due around 2030, with outlets differing on the exact year: CBT News says it should arrive in multiple regions at once, excluding China, while InsideEVs ties it to latest-generation models expected by the end of 2030. Volvo has not chosen a pricing model, but Bakkenes said the features will not be limited to higher-priced models. "Eyes-off and mind-off" driving is promised later with no timeline, the first system has no lidar though the platform can take it, and InsideEVs notes that the "Level 2++" label Volvo uses is not on the SAE automation chart. #analyst

Carvana's Finance Arm Helps Generate 85% of Its Sales, Against About 45% at CarMax and 20% at Lithia: Carvana's captive finance arm helps generate 85% of its total sales, new and used, and the share is stable and likely to inch up, VP of finance Matt Dundas said at the Auto Finance Summit, per Automotive News. Nearly 45% of CarMax's fiscal 2026 sales came through CarMax Auto Finance, and Lithia's Driveway Finance handled close to 20% of its U.S. sales in the second quarter. The periods differ, and Carvana didn't give one for its figure. Carvana sold just under 600,000 vehicles in 2025 and wants 3 million a year by 2035, about five times as many. Its total sales rose 38% in the second quarter, and J.P. Morgan's Rajat Gupta says third-quarter growth could pass 40% when Carvana reports on Oct. 28. Analyst Jeff Lick of Stephens says Carvana stands out because it makes the initial loan itself, with Bridgecrest, a DriveTime company, servicing it afterward. #market

Porsche's Mission S Is a Permanent Supercar Above the 911, and a Manual Is Not Ruled Out: Following up on yesterday's preview, Porsche showed the concept on Oct. 15 on a pier in Queens, New York, where the first photos of the 550 Spyder were taken in 1953, per Porsche's newsroom. CEO Michael Leiters called the platform "a permanent and versatile addition to our customer offering," not a one-off hypercar. Road & Track reads it as a rival to the Ferrari 296 and 849 Testarossa rather than a limited-run hypercar like the 918 Spyder. Porsche gave no powertrain details, though R&T notes four tailpipes that hint at an eight-cylinder layout. Leiters said the platform could take a combustion engine or a hybrid, with either a manual or a PDK automatic, and added that "customer demand will define what we build on this platform," per a second Road & Track report. The cabin has no center infotainment screen, only a retractable MagSafe phone holder and a mix of analog and digital gauges and push-pull controls. Car Curious, our sister car-podcast platform, followed nine car podcasts on the Mission S, from the electric Mission X concept of 2023 to the reveal.

Chevy Confirms an All-Electric Corvette Is Coming, but Not Yet: Corvette chief engineer Tony Roma told The Drive that "someday we will fully electrify Corvette. But not today," and gave no timing, per Autoblog. Autoblog estimates that C8 production ends in late 2027 or early 2028 and that an electric version could come with the next-generation C9, which it puts at the 2030 model year at the earliest. The current Corvette already has three electrified variants, including the 1,250-hp ZR1X. Porsche's Leiters has said the 911 "will never be fully electric."

A Mazda Miata With a Ferrari 360 V8 Makes 338 hp at the Wheels and Revs to 8,800 rpm: The "Ferramiata" is an NB-generation Miata fitted with a 3.6-liter flat-plane-crank V8 from a Ferrari 360 Modena, built over four years at Daddy Motor Works in Japan for a customer, per Turnpike, whose Dino Dalle Carbonare drove it. On a Dynapack hub dyno it made 338.5 wheel horsepower and 232.4 lb-ft, against 130.1 and 110.7 for a stock 1.8-liter Miata, and peak power moves up to 8,347 rpm with an 8,800-rpm redline. The car weighs 1,150 kilograms (2,535 pounds), runs a six-speed gearbox from a Toyota 86, and, per The Autopian, the shop sourced the engine on Yahoo Auctions out of a crashed Ferrari, after the customer first considered a Mazda V6 and then an NSX engine.

BMW Says a China-Built i3 Drove 754 Miles on One Charge, but It Has a Different Battery: BMW China ran the long-wheelbase i3 50L 1,213 kilometers in mixed real-world driving and arrived with 1% charge left, per Autoblog. The global i3 is rated at up to 559 miles by European testing methods and 440 miles by the EPA, and the Chinese car uses a different battery composition.

Hyundai Recalls 94,622 Genesis Sedans Over a Seat-Motor Fire Risk and Tells Owners to Park Outside: The recall covers 54,644 2015-2016 Hyundai Genesis and 39,978 2017-2020 Genesis G80 sedans, whose front power seat motors can keep running after a switch is dislodged or damaged, per Autoblog. Hyundai knows of two fires and no injuries, a remedy is still being developed, and owner letters go out Dec. 7.

China Opens a Joint Probe Into the Huawei-Backed Maextro V800 After a Test Video Showed Brake Pedal Brackets Breaking: China's industry ministry, cyberspace regulator and market regulator formed a joint team on Oct. 15 to examine brake pedal bracket failures on the V800, a luxury MPV built by Huawei's Maextro brand with JAC, per CnEVPost. A Dongchedi video posted Oct. 8 showed brackets breaking on three V800s during emergency-braking tests from 100 km/h, and the testers say they stopped the vans with the emergency brake on the Park control, The Drive reports. Maextro calls the conditions "non-standard extreme test conditions," says no bracket has failed in customer use since deliveries began, and has promised a redesign and a free upgrade for owners. JAC shares fell by the 10% daily limit on Oct. 8. The V800 launched Aug. 5 from 766,000 yuan, about $113,900.

Yesterday's picks

Roger Penske and Mitsui Agree to Take Penske Automotive Private at $212 a Share: Penske Automotive Group agreed on Oct. 15 to be bought by Motown Acquisition Corp., an entity owned by Penske Corporation and Mitsui & Co., for $212.00 a share in cash, valuing the company at an enterprise value of about $16.3 billion, per the company's release. After closing, Penske Corporation will own about 64% and Mitsui about 36%.

Britain Won't Tariff Chinese Cars Just Because Brussels Asks, Its Business Secretary Says: Following up on the UK weighing tariffs on Chinese EVs, Business Secretary Jonathan Reynolds told The Guardian that "when we make any trade decision in terms of trade defence tariffs in relation to the EU, that’s based on the UK interest – it’s not based on any other country asking for that." He did not rule tariffs out: he said the government looked at the issue in 2024 and will "keep it under review depending on what the needs of industry are," and The Guardian reports he conceded they remain an option in the future. Reynolds called the British car industry "an export-led sector" and has previously cited the risk of Chinese retaliation against companies such as Jaguar Land Rover, per the same report, while the EU has imposed tariffs of up to 45% on Chinese electric cars.

Worth a listen

One episode from Car Curious, our sister car-podcast platform, picked out of everything the shows published in the last day.

Special Edition: Porsche CEO Michael Leiters Talks New Supercar (Bloomberg Hot Pursuit!, also at YouTube): Porsche CEO Michael Leiters says the platform above the 911 can take a hybrid or pure combustion powertrain, explains why the cabin cuts back on screens, and confirms the electric Cayman and Boxster will have no gas version.

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