Wholesale used vehicle prices declined last month for the first time this year.
Cox Automotive reported a 3% decline from March to April in its Manheim Used Vehicle Value Index.
Further declines could help bring used vehicle pricing down for consumers, since retail prices traditionally follow changes in wholesale prices.
Several test prototypes have already been spotted with camouflaged front and rear ends, suggesting the Model 3 is in for some major visual updates. But Tesla's compact sedan will get more than that. According to a "trusted insider" who offered an exclusive insight to Not A Tesla App, the Project Highland will bring significant changes inside and out.
Starting with the design, the report notes the headlights will have a different shape, which means the front bumper will be redesigned as well. It will be more aerodynamic and will now house a single camera in the center area of the lower grille, in similar fashion to the Cybertruck.
Out back, the refreshed Tesla Model 3 is also getting a redesigned bumper, although the changes will likely be purely for aesthetic reasons.
The source also said the side mirrors will be subtly updated and the Project Highland will be getting more cameras to take advantage of the new Hardware 4.0 Autopilot supercomputer. Three new cameras will reportedly be added to the Model 3: one in the center of the front bumper and two on the sides of the car.
In a conference call following the release of the results, CEO Elon Musk made new comments announcing that Tesla plans to hold a “handover event,” which generally means the first deliveries of a new car, toward “the end of the third quarter.”
This would put the first Tesla Cybertruck deliveries around September 2023. It’s the most precise timing of Cybertruck deliveries that Tesla has released to date.
Based on the launch of Tesla’s most recent models, especially the Model Y, we should expect Tesla to only deliver a few Cybertrucks during the delivery event, likely only to Tesla insiders, and we can expect months between the event and the start of deliveries to customers.
Interestingly, Musk also said that Cybertruck reservation holders should expect to get an update on specs and pricing at that event at the end of Q3.
In previous comments, Musk indicated that the Cybertruck would be available in a new top-of-the-line variant with quad motors rather than the tri-motor powertrain originally announced.
The plant will build the company’s next-generation EVs that are expected to arrive to market around mid-decade.
The changes to the Oakville complex will include combining three body shops into one and adding battery pack assembly, Ford said.
The Oakville plant will continue to build the gas-powered Ford Edge and Lincoln Nautilus crossovers up until the plant’s downtime.
The investment is part of Ford’s plan to have production capacity for 2 million EVs globally by the end of 2026.
The retooling is expected to take six months and begin in the second quarter of next year, Ford said.
