Tesla CEO Elon Musk told investors he will reduce his role as a senior White House advisor to one or two days per week after reporting a 71% decline in net income, led by a 20% drop in automotive revenue. +

The California New Car Dealers Association filed a lawsuit against Volkswagen and its Scout Motors division, which produces EVs the company wants to sell directly to consumers. +

In a memo to Nissan dealers, factory executives say they will not raise new vehicle prices to compensate for new tariffs on imported vehicles and plan to utilize idle U.S. capacity. +

Volkswagen will not raise U.S. new vehicle prices through at least the end of May, joining a group of manufacturers who have announced discounts and freezes as tariffs on imported vehicles take effect. +

Lotlinx’s latest VIN-based Quarterly Vincensus Report finds that, despite a March sales surge for new and used vehicles, aging inventory undermined profitability over the course of the first quarter. +

A new EVAI survey of 2,500 fleet executives finds growing concerns over acquisition and replacement costs as tariffs on imported vehicles threaten to upend budgets and planning. +

A Gallup poll finds 51% of Americans own or are open to owning an EV, unchanged from a year ago and down from 59% in 2023. Only 11% say they already own one or are “seriously considering” it. +

The Cybertruck Long Range is a single-motor, rear-wheel drive version of the fully electric pickup that offers a bump in range and a long list of deleted features, starting at $71,985 with destination. +

Kelley Blue Book reports U.S. sales of new EVs increased by 10% in the first quarter, led in part by 30,000 units moved by General Motors dealers, while sales of market leader Tesla slipped. +

J.D. Power reports EVs accounted for 9.3% of all U.S. sales last month, up from 8.4% in March 2024. Tesla remains the most considered EV brand despite a steadily declining share of the segment. +