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Your EV is being recalled!

Buckle up, baby! Street Drift is here with the latest auto industry news that comes more often than your ex sliding into your DMs. And you don’t have to ghost us as you did to them.

So, buckle up, and let’s hit the road together!


The Greenlight: Tesla Issues Multiple Recalls for Electric Vehicles

Car Parts: selling Tesla & buying coin base,Porsche waving the white flag,etc

Dashboard: Top Pre-Owned Car Stocks Hedge Funds Favor to Invest In

Around the Car: BMW M2 Kicks off 25th Anniversary!

GreenLight!

Step on the BREAKS!Tesla Issues Multiple Recalls for Electric Vehicles!

Tesla Recalls Model S Vehicles in China Over Front Trunk Safety Issue

Yo, what’s good my fellow car enthusiasts? Seems like the EV game ain’t all sunshine and rainbows, cuz these safety recalls got me feeling some type of way. Check it out:

  • EV safety recalls are a dime a dozen these days. You better buckle up, folks.
  • Ford had to recall some 2022 Mustang Mach E Crossovers cuz the axles were breaking like they were in a Fast and Furious movie.
  • General Motors recalled its 2022 Hummer EVs and BrightDrop EV600 electric vans over a battery pack sealing problem. Maybe they need to seal the deal on their quality control, too.
  • GM also recalled 140,000 Chevrolet Bolt EVs cuz of a fire risk. Sorry, Bolt owners, looks like you’ll have to find a new way to stay hot.
  • Nissan’s 2023 Ariya Electric SUVs are missing steering wheel bolts? Talk about a turn-off.
  • Tesla had to issue a safety recall for certain Model S, Model X, Model 3, and Model Y vehicles. Maybe their Full Self-Driving feature isn’t as full-proof as they thought.
  • The NHTSA opened an investigation into 100,000 Tesla 2023 Model Y SUVs cuz the steering wheels were coming off. That’s one way to steer clear of danger.
  • Tesla also had to recall some Model S vehicles in China cuz the front trunk latch lock was acting up. Looks like their quality control needs to take a trip to the Great Wall.

Car Parts!

1- Electrify!– Rev up your EV shopping game by finding a knowledgeable dealer, charging up before the test drive, and getting a battery report before you buy!

2- Revving!!– Cathie Wood’s ARK Invest sold Tesla and bought the Coinbase dip after the SEC warning.

3- Deflated– Mercedes admits it’s unlikely to catch up to Red Bull in 2023, but they’ll give it their all anyway.

4- Exit!– Is Porsche waving the white flag a clue that F1 is the ultimate challenge to conquer?

5- Rangeroverdisguised– “Strange” Audi Quattro desert racer is actually a Range Rover with a massive 106-gallon fuel tank and a Rover V8 engine.

6- Monopoly!– Rain Can’t Stop Toyota’s Reign: Sweeps Top Four Spots in Wet SUPER GT Test at Fuji!

Dashboard Analysis!

Top Pre-Owned Car Stocks Hedge Funds Favor to Invest In

  • The used car market is growing faster than a beanstalk on steroids, reaching a whopping $260 billion in 2021, and is expected to hit $460 billion by 2027 with a growth rate that would make Usain Bolt jealous.
  • COVID-19 didn’t just bring a pandemic, it brought a chip shortage that sent new car prices skyrocketing by 20% and used car prices to the moon with a 45% increase in demand.
  • While used car prices may have retreated from their peak, the limited supply of new cars means people will continue to flock to the used car market like seagulls to a beach.
  • Wholesale prices for used cars took a 15% hit in 2022, but they’re expected to make a comeback with a 4.1% rise in 2024 – fingers crossed!
  • J.P. Morgan predicts a 10% decline in used car prices in 2023, blaming high prices, poor selection, and declining demand. But hey, at least we have a good excuse to be pessimistic about the future.
  • The top 10 used car stocks to buy according to hedge funds are like a dream team of automotive dealers: CarGurus, Carvana, AutoNation, Copart, Lithia Motors, Penske Automotive Group, Vroom, CarMax, Group 1 Automotive, Asbury Automotive Group.
  • CarGurus, Inc. (NASDAQ: CARG) is the ultimate online marketplace for used cars with two segments: U.S. Marketplace and Digital Wholesale, and 21 hedge fund holders. It’s like eBay, but for cars.
  • CarGurus, Inc. (NASDAQ: CARG) made a total revenue of $1,655 million in 2022, a 74% increase compared to 2021, and is expected to make bank in the first quarter of 2023 with estimated revenue between $195 million to $215 million.
  • Money, money, money, here we come! Hedge fund popularity is like a popularity contest for finance nerds, and it’s all based on the number of hedge fund investors holding the stock at the end of the fourth quarter of 2022. Can we get a drumroll, please?

Around The Car!

BMW M2 Kicks off 25th Anniversary!

BMW M2 makes its debut as the MotoGP safety car for the 2023 season

BMW M is gearing up to celebrate its 25th anniversary as the Official Car of MotoGP, and they’re doing it in style with the new M2 MotoGP safety car. This baby is loaded with all the latest safety features and M Performance parts to ensure that no racer gets left behind (or in the dust).

BMW M has been partnering with Dorna Sports since 1999, and they’re not slowing down anytime soon. In fact, they’re bringing their A-game with a whole fleet of safety, medical, and official cars, along with BMW M 1000 RR safety bikes. Talk about a party on wheels!

The CEO of Dorna Sports and BMW M GmbH are both excited to keep this partnership going strong, and they’re looking forward to an amazing anniversary season in 2023. So buckle up, put on your helmets, and get ready for some high-speed action – BMW M is taking the MotoGP world by storm!

P.S. If you enjoy our newsletter, don’t forget to press the gas paddle and spread the word to your friends and family.

CONTACT US

ahmadibrahim@windowslive.com