Each week TheDetroitBureau.com reports on the biggest news and events happening in the auto industry and relays those stories in its weekly the Headlight News podcast. The roundup includes news, features, reviews and more.
Electric vehicles are hot and nowhere was that more clear on Tesla’s Q1 balance sheet. The EV maker set new records for revenue, operating profits and operating margin.
Some of the other stories you need to know about include:
- While Tesla was moving plenty of metal, the level of competition is on the rise with the new Kia EV6 capturing U.S. News & World Reports award for Best Electric Vehicle for 2022. The Lucid Air took home the Best Luxury Electric Car award. Tesla fans did have one honor to rejoice over as the Model X won Best Luxury Electric SUV;
- Not wanting to miss out on the EV party, Ford’s luxury unit Lincoln rolled out its new all-electric concept, the Lincoln Star. The brand plans to have four EVs in production by 2026. It wasn’t alone as BMW unveiled its new i7, which is part the Bavarian automaker’s 7 Series line-up;
- Mercedes-Benz revealed its EQS SUV, which will be built at its Alabama plant, and was joined on the run of debuts by Lexus and its new all-electric model, the RZ 450e;
- VW could be the next company to sell all-electric pickups in the U.S., joining Rivian, GMC and Ford starting in June. The company’s U.S. chief, Scott Keogh, suggested that if the brand was going to get into trucks, the battery-electric segment would be its best opportunity; and,
- Mazda confirmed what TheDetroitBureau.com reported five years ago: the Japanese automaker is bringing back its rotary engine to be used as a range extender for its MX-30 EV in the U.S.
Meanwhile its operating profit improved to $3.6 billion giving the company an operating margin of 19.2% — both new records — despite losing nearly one full month of production from its new gigafactory in Shanghai. All these big numbers have CEO Elon Musk on track to add another $25 billion to his personal fortune — now we know where the money for Twitter is coming from.
EIC Eisenstein got to determine if Subaru’s latest model, the all-electric Solterra, will make the grade with hardcore Subaru fans who expect off-road capability as well as some performance out of their Subies. Well, after traipsing around Catalina Island off the California coast for a day, he says it’s ready for prime time. Get the rest of the review on the ‘cast.
Managing Editor Michael Strong notes this week’s going to be much like last week, where will find out just how profitable automakers can be while selling 10 to 15 percent fewer vehicles each month. GM and Ford will report their first quarter results on Tuesday and Wednesday respectively. In the past, a prolonged drop in sales would make this a week for the top brass at both automakers to dread, now executives and shareholders seem pretty pleased with the results lately.
Taking a look at this week in automotive history Executive Editor Larry Printz, we see this week in 1931 when John Dodge’s wife, Matilda is named to the board of directors of the Graham Paige Motors Corp., becoming the first woman to hold such a role in the industry. In 1970, Britain’s legendary Ford Capri makes it debut in the U.S. as the Mercury Capri — where it is not nearly as successful.
Find out more the industry’s history and more by listening to TheDetroitBureau’s latest edition of the Headlight News podcast by clicking here. And look for a new episode every Monday!
