WASHINGTON — For the second time in as many weeks, a War Powers Resolution aimed at curbing President Donald Trump’s war with Iran failed to pass the U.S. Senate Thursday.

The vote breakdown, 49-50, fell along familiar lines as previous War Powers votes, with Republican Sens. Lisa Murkowski of Alaska, Rand Paul of Kentucky and Susan Collins of Maine supporting the measure. 

Democratic Sen. John Fetterman of Pennsylvania voted no, as he’s done in just over a dozen similar measures.

Sen. Mitch McConnell, R-Ky., continues to be absent while in medical rehab.

A similar War Powers Resolution to rein in Trump’s military conflict in Iran passed in the U.S. House on July 23, but failed in the Senate — both led by Republican majorities.

War heats up

The regional war reignited yet again this week after Trump ordered retaliatory strikes Tuesday, along with Saudi Arabia’s armed forces, on Iran-backed militias in eastern Iraq. The strikes on “multiple terrorist logistics and weapons sites” were in response to Iranian drone attacks on U.S. forces in the region, according to U.S. Central Command.

Trump told Fox News on Wednesday, “We are going to beat the f—– s—- out of them.”

The United States launched a “heavy wave” of strikes on Iranian military sites beginning at 10 p.m. Eastern Wednesday “in response to yesterday’s attempted missile attacks on U.S. forces,” according to U.S. Central Command.

The cost of oil jumped to just over $90 a barrel Wednesday in response to renewed fighting and a continued chokehold on traffic through the Strait of Hormuz, where one-fifth of the world’s petroleum traveled prior to the U.S. and Israel launching the war in late February. 

This means Americans are again paying more for fuel. According to AAA, the U.S. national average for a gallon of regular gasoline rose to $4.09 Thursday.

Before the volley of strikes began again, Trump had announced a pause, after the U.S. and Iran traded rocket fire for nearly two weeks following the collapse of ceasefire talks. 

Service members killed

The president on July 22 attended the dignified transfer, in which the remains of soldiers are transferred from an aircraft arriving from the theater of operations back to the United States, for four U.S. service members killed as a result of the conflict with Iran.

Three of the service members were killed July 17 and July 18 in an Iranian strike at a U.S. airbase in Jordan, and a fourth was killed during a controlled detonation of an Iranian drone July 19 at a U.S. base in Iraq. 

The most recent deaths of U.S. soldiers in the conflict bring the total killed to 18, while the number of injured increased to 653.

But the Pentagon does not recognize the four most recent deaths among those in the Iran war, dubbed by the administration as Operation Epic Fury. 

Instead, the Pentagon is categorizing the latest deaths and injuries as casualties of “overseas operations starting July 7, 2026.”

The administration is asking Congress for an additional $67 billion for the war in Iran. Defense Secretary Pete Hegseth told Senate appropriators July 21 that the war has already cost $37.5 billion.

Mercedes unveiled its all-new electric and hybrid GLA yesterday with a cabin dominated by a spectacular wall of screens. But head over to the German configurator with €48,599.60 ($55,640) and dreams of ordering a basic GLA 200, and Mercedes has a little reminder that you didn’t spend enough.

What looks like one enormous pillar-to-pillar display is actually three separate screens housed behind a continuous glass panel. The digital instrument cluster and central touchscreen are standard, but the passenger display above the glovebox isn’t.

Related: Mercedes-AMG Is Killing Its Best 4-Cylinder Hot Hatch And Charging $90,500 For The Goodbye

Leave the third-screen option unticked and Mercedes fills the resulting void with a glossy black panel illuminated by dozens of three-pointed stars. It actually looks pretty smart, though being confronted by a constellation of Mercedes badges every time you climb aboard will always remind you that you didn’t spring for the full setup.

And the 221 hp (224 PS / 165 kW) GLA 200 isn’t alone in making you feel like a skinflint. The 268 hp (272 PS / 200 kW) GLA 250 and even the 349 hp (354 PS / 260 kW) GLA 350 also miss out on the passenger display as standard. It’s possible however, that a top-dog AMG 45 version coming later and using the new 671 hp (680 PS / 500 kW) CLA 45’s triple-motor powertrain, might get it for free.

Superscreen Bait And Switch

The MBUX Superscreen option is listed at €1,160.25 ($1,330) on the German GLA configurator, and you can have it on every model including the lowly GLA 200. It’s not cheap, but also not likely to make too much of a difference to your monthly payment, so we can imagine a few buses being tempted. Click to add it, though, and the configurator demands you also add the €226.10 ($259) three-year Digital Entertainment package plus the €2,796.50 ($3,200) Advanced Plus Package with Digital Extras.

The latter adds more tangible luxuries including flush door handles, heated seats, four-way lumbar adjustment, ambient lighting and wireless smartphone charging. Add all three packages together and your supposedly €1,160.25 Superscreen has actually relieved you of €4,182.85 ($4,789).

Zero Benefit For Drivers

The third infotainment display can stream video, with audio routed through headphones or the GLA’s speakers. But Mercedes prevents drivers from enjoying an unauthorized movie night behind the wheel. If the car detects the driver looking at video playing on the passenger screen for more than two seconds, it blanks the image. When the passenger seat is empty, drivers can choose from various backgrounds to stop that expensive display sitting there doing nothing.

Mercedes

We’re guessing most buyers won’t spec the third screen, and it won’t be the end of the world. Those illuminated stars arguably look better than a boring plain black panel, and probably better than an unused screen covered in greasy finger marks. But Mercedes’ glamorous launch images certainly aren’t showing you what €48,599.60 really buys.

Genesis has announced pricing for the 2027 GV60 Magma will begin at $69,950 before a $1,545 destination fee. That means the model costs $10,050 more than the 2026 Hyundai Ioniq 5 N, but costs $55 less to be delivered. That’s a pretty sizable difference, but Genesis is a luxury brand and there was little doubt it’d carry a hefty premium.

Despite its luxury roots, the GV60 Magma is focused on performance and has an 84 kWh battery pack, which feeds a dual-motor all-wheel drive system producing up to 641 hp (478 kW / 650 PS) and 583 lb-ft (790 Nm) of torque. This enables the model to accelerate from 0-60 mph (0-96 km/h) in 3.4 seconds.

More: 2027 Genesis GV60 Magma Wants To Make BMW And AMG Sweat

Set to arrive at select dealers in California, New York, and New Jersey in the coming weeks, the hot GV60 has launch control, virtual gear shifts, and an electronic limited slip differential. They’re joined by an e-Active Sound Design Plus system, which “simulates engine sounds through two external speakers.”

Genesis said surprisingly little about the model, but noted the glorified hatchback has an aggressive front bumper, canards, and exclusive 21-inch forged wheels. They’re joined by a sizable rear wing and a color palette that includes Magma Orange, Uyuni White, Vik Black, and Makalu Gray Matte.

The interior largely carries over, but the Magma comes equipped with performance seats that have heating and ventilation. They’re wrapped in Obsidian Black suede and feature orange contrast stitching.

Drivers will also find a sport steering wheel with dedicated Boost and Magma Mode buttons. They’re accompanied by alloy pedals and unique displays for the 27-inch OLED screen. Genesis also noted the car comes standard with a Bang & Olufsen premium audio system.

BYD has officially launched the Racco EV in Japan, becoming the first automaker from outside Japan to build a kei car. It arrives with aggressive pricing, segment-leading range, a strong warranty, and a long list of standard tech and safety kit.

The car first surfaced back in December 2025 as a near-production prototype. Now the Chinese giant has priced the full lineup and confirmed specifications across every grade.

More: Chery Just Lined Up A Kei Car For Japan, And Suzuki Should Be Worried

The headline is that starting price: ¥2,145,000 ($13,100) before local subsidies. The recently facelifted Nissan Sakura EV and Mitsubishi eK X EV, by comparison, list at ¥2,448,600 and ¥2,446,400, or roughly $14,900 at today’s exchange rates.

Local Rivals Still Have An Advantage

The Chinese newcomer has the lower sticker price, but it’s at a disadvantage compared to its Japanese rivals. Under Japan’s Ministry of Economy, Trade and Industry (METI) rules, subsidies come down to a scoring system that weighs local manufacturing, battery sourcing, domestic charging network investment, and disaster support capabilities.

More: Honda Refreshed The $11K Kei Car That Outsells Everything Else In Japan

That system lets zero-emission kei cars from local brands qualify for the maximum subsidy cap of ¥580,000 ($3,500), while Chinese imports like the BYD can only tap the basic ¥150,000 ($900) grant.

Because local municipal subsidies stack on top of the national one, a Tokyo resident can buy a Racco for as little as ¥1,545,000 ($9,400). That same buyer can pick up a Nissan Sakura EV or Mitsubishi eK X EV for ¥1,298,600 and ¥1,296,400 (around $7,900), leaving both cheaper on the road.

Here’s Where The BYD Racco Wins

It isn’t the cheapest electric kei car on the road once subsidies settle out, but the BYD Racco takes the upper hand on specifications and standard equipment, which makes for a compelling case.

More: It Takes A 1,600-Pound Battery To Move A BYD Sedan Longer Than An S-Class

The entry-level Racco 200 runs a 22.40 kWh battery pack good for a WLTC range of 210 km (130 miles), already ahead of its rivals. The Racco 300 Plus and 300 Premium step up to a 35.84 kWh battery, stretching range to 320 km (199 miles). The car also handles faster charging of up to 6 kW AC and 50 kW DC, with battery pre-heating for winter, plus V2H and V2L capability.

Every grade runs a front-mounted electric motor making 63 hp (47 kW / 64 PS) and 160 Nm (118 lb-ft) of torque, the ceiling for kei cars. BYD says a remarkable 90 percent of the Racco’s components, batteries and electric motors included, were built in-house.

The Racco is based on an adaptation of BYD’s e-Platform 3.0 utilizing Cell-to-Body (CTB) structural LFP Blade battery tech and the “X-PACK” module, which integrates the drive battery, control unit, DC/OBC, and climate control electronics into a single assembly for enhanced crash energy absorption. It also gets a custom suspension system specifically designed for Japanese roads, and four wheel disc brakes, which is uncommon for the segment.

More: Daihatsu’s $8,800 Taft Looks Tougher Than It Drives

In terms of styling, it adopts a familiar wagon stance and a boxy silhouette designed to offer the maximum interior space while complying with the strict footprint regulations for kei cars measuring 3,395 mm (133.7 inches) long. Among the elements that distinguish the BYD Racco from rivals are the modern LEDs, the practical sliding doors, and the slightly taller stance.

Class-Leading Space And Equipment

Inside, the base model comes standard with an 8-inch digital instrument cluster and a 10.1-inch infotainment display, while higher grades upgrade to a larger 12.3-inch touchscreen. Note that most kei cars come without a screen in their basic configuration. The entire lineup supports over-the-air (OTA) updates and comes with six airbags.

The flagship BYD Racco 300 Premium features umbrella holders, a Child Presence Detection system, hands-free sliding doors with light guide projection, Black and Beige synthetic leather upholstery, and a heated cup holder. As for practicality, BYD promises class-leading interior length, width, and height, alongside ample storage compartments. The cargo space of 280 lt (9.9 cubic feet) expands to 1,372 lt (48.5 cubic feet) when the seats are folded.

Available Now

The Racco is already up for order in Japan across BYD’s 70 dealerships, backed by an 8-year / 99,500-mile battery warranty that stretches to 10 years / 124,300 miles. Pricing opens at ¥2,145,000 ($13,100) for the base 200 and climbs to ¥2,497,000 ($15,200) for the flagship 300 Premium, before subsidies. BYD says a five-year plan with no money down on the cheapest Racco starts at ¥19,300 ($120) a month.

More: Japan’s Favorite $11,800 EV Just Got A Facelift Before BYD Comes For Its Crown

Beyond the electric kei cars, the Racco also squares up against ICE-powered kei wagons like the Honda N-Box, Suzuki Spacia, Daihatsu Tanto, Nissan Roox, Mitsubishi Delica Mini, and eK Space. Whether Japanese buyers go for the BYD’s value and high-tech features over the more established names is the open question.

BYD

Leasing a Tesla Model 3 in the US has just gotten more expensive, so anyone hoping to get behind the wheel of a new one may find that paying cash makes more sense than signing a lease, at least in some cases.

Lease prices have crept up quietly across the entire Model 3 family, and the increases start with the base Rear-Wheel Drive model, which now runs $379 per month over 36 months with an annual mileage cap of 10,000 miles. That figure looks reasonable enough on its own, but it leaves out the $4,075 due at delivery, a sum made up of a $3,000 down payment, the first monthly payment, and an acquisition fee.

Read: Tesla’s First Model Y Price Hike In Two Years Skips The Cheapest Version

After factoring this in, you get an effective rate of $481 per month, which is roughly 12 percent higher than earlier this year. As recently as last week, the EV was offered at $329 per month with a lower $4,024 fee due at signing.

Lease prices have also increased for other Model 3 variants. For example, the Premium Rear-Wheel Drive commands $399 per month over 36 months, excluding the $4,094 fee that’s due up front. Add that into the equation, and you’re looking at an effective rate of $501. The Premium All-Wheel Drive is more expensive at $479 per month with a higher fee of $4,174, meaning it works out to $581 per month over the life of the lease.

Then there’s the Model 3 Performance. It has a monthly lease of $629 plus the $4,324, which is due at delivery. Do the math, and it works out to $731 per month for 36 months.

While this is roughly 4.3 percent higher than previously, it’s not necessarily a bad deal. Earlier this year, Hyundai was offering the Ioniq 5 N for $699 per month over 36 months with $3,999 due at signing, working out to $810 per month.

Every year we’re told the next breakthrough in battery technology will finally make EVs more affordable. Quietly, that’s already started happening… at least on the manufacturing side. According to a new study out of Germany, global battery costs have fallen by roughly 35 percent in real terms since 2020. Yet if you’ve been shopping for an EV lately, you’ve probably noticed they haven’t become dramatically cheaper. In fact, the median advertised price actually went up. Here’s why.

Read: Used Hybrid And EV Prices Have Jumped $3,600 Even After The Tax Credit Died

Researchers from the International Council on Clean Transportation (ICCT) analyzed more than 100,000 passenger car configurations sold in Germany between 2020 and 2025. When comparing equivalent models and adjusting for inflation, vehicle weight, power output, battery capacity, and electric range, they found battery electric vehicle prices fell by about 18 percent in real terms over the five-year period. Yes, prices fell by almost one-fifth. At the same time, internal combustion vehicles became roughly 2 percent more expensive.

The study attributes much of that price drop to falling battery costs. What’s particularly interesting is the gap between the roughly 35 percent decline in battery prices and the 18 percent reduction in vehicle prices. Researchers say manufacturers appear to have used some of those savings to increase driving range, improve vehicle specifications, or offset research and development costs instead of cutting sticker prices even further.

Why The Median Price Climbed

On top of that, the overall market tells us an even more interesting story. The study confirms that individual EV models became cheaper while the median advertised price across the entire German market actually went up, growing from around €38,000 ($44,000) in 2020 to €54,000 ($62,000) in 2025.

That’s largely because the number of available EV models exploded from 38 to 159 during the study period, with much of that growth coming from larger, more expensive vehicles in the lower-medium, medium and upper-medium segments. Buyers shopping for smaller, more affordable EVs still have relatively few choices, with mini and small cars accounting for just 14 percent of all BEV models on sale.

It’s worth noting that the findings reflect the German market rather than the United States, where incentives, taxes and consumer preferences differ considerably. Even so, the report highlights an important reality for anyone expecting dramatically cheaper EVs. Falling battery costs don’t automatically translate into lower sticker prices. Sometimes they become longer range, more equipment, or simply more expensive vehicles.

For the past few years, buying a used EV has been a waiting game, with would-be buyers often waiting for prices to fall a little further. That strategy may no longer be paying off. Used electric vehicle prices are climbing rapidly while the rest of the used car market continues to drift in the opposite direction, making dream cars like the Porsche 911 more affordable.

New data from iSeeCars suggests the turnaround isn’t a one-month anomaly, either. Used EV prices have now posted three straight months of year-over-year gains, moving from a 2.7 percent increase in April to 5.2 percent in May before reaching 7.4 percent in June.

Related: This Is How Much A 17K-Mile EV From A Dead Brand Sells For After 3 Years

That pushed the average price of a one- to five-year-old used EV to $33,305 in June. Compared with the same month last year, that’s an increase of $2,308. Meanwhile, the average used vehicle price fell by 1.3 percent year over year, highlighting just how differently the EV segment is behaving.

Rising fuel costs may have helped trigger the shift, iSeeCars Executive Analyst Karl Brauer logically suggests. Gasoline prices rose sharply during the Iran conflict earlier this year, but it took several weeks before buyers adjusted their shopping habits and begin gravitating back toward EVs.

Average 1-5 YO EV Prices

Tesla was the biggest beneficiary of the trend. All four of the brand’s core models landed among the 10 used vehicles with the largest year-over-year price increases. The Model X led the entire market, jumping 17.5 percent to an average price of $60,950.

The Model 3 wasn’t far behind with a 13.5 percent increase, while the Model S climbed 13.1 percent and the Model Y gained 12.0 percent. “Tesla makes up nearly half of the top 10 used models with the highest price increase,” Brauer noted.

Perhaps just as telling is what didn’t appear in the rankings. Not a single EV showed up among the 20 used vehicles with the steepest price declines. Instead, that list was populated by a mix of luxury vehicles, pickups, SUVs, hybrids, and conventional gasoline-powered models. The Lincoln Corsair posted the biggest percentage value drop (-14.7 %), but the Porsche 911 was right behind it (-10.6 %), and reminds us that there’s a silver lining to every cloud.

Used Cars With The Biggest Price Increases

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Used Cars With The Biggest Price Drops

iSeeCars

Luxury vehicles have never been immune to depreciation, but the latest sale of a nearly new Cadillac Escalade IQ shows just how punishing the first year of ownership can be for high-end EVs. After covering just 13,000 miles, a 2025 Escalade IQ Sport 2 changed hands for $105,000 despite carrying a window sticker of more than $152,000 when new. That’s roughly $47,000 that just went up in smoke over what amounts to barely a year’s worth of driving.

Sold on Bring a Trailer on July 19, the Flare Metallic example attracted 24 bids before the hammer fell at $105,000. While that’s still a six-figure SUV, it’s approximately 31 percent below its original MSRP of $152,365. Put another way, the original buyer, if they paid MSRP, lost $3.64 for every mile that this SUV was on the road. That doesn’t account for electricity, insurance, or maintenance.

Review: Cadillac’s 2026 Escalade IQ Nails The Entrance, Then Spends A Week Undoing It

Photos BaT

The sale highlights a trend that’s become increasingly common across premium electric vehicles. Buyers willing to shop the used market can often save tens of thousands of dollars while getting a vehicle that’s barely broken in. This particular Escalade IQ wasn’t exactly a stripped-down example either. It featured Cadillac’s dual-motor all-wheel-drive powertrain producing up to 750 hp (559 kW) and 785 lb-ft (1,064 Nm) of torque in Velocity Max mode, fed by a massive 205-kWh battery pack.

It also came loaded with virtually every luxury feature buyers expect from Cadillac’s electric flagship. Highlights included Air Ride Adaptive Suspension, four-wheel steering, Super Cruise, Night Vision, a 36-speaker AKG Studio Reference sound system, heated and ventilated massaging front seats, heated second-row captain’s chairs, a panoramic glass roof, and the massive 55-inch curved dashboard display.

Photos BaT

The seller also fitted custom 24-inch Vivid Racing forged wheels, removed the rear badging, and added gloss-black vinyl accents to the grille surround and C-pillars, though the original appearance could easily be restored. Importantly, the Carfax was clean, showing no reported accidents or damage, although it did note at least one open recall.

Don’t get us wrong. $105,000 is a boatload of money for any vehicle. Nobody needs something this expensive. But having tested one in person, it’s a truly luxurious machine in most of the ways that matter. Letting someone else absorb the depreciation just makes the ownership experience sweeter.

Photos BaT

WASHINGTON — One day after President Donald Trump attended the dignified transfer of the remains of four U.S. service members killed as a result of the Iran conflict, the two chambers of Congress were at odds over whether to rein in the president’s military powers in the monthslong war.

While members of the U.S. House approved a War Powers Resolution 214-208, with four Republicans joining all Democrats, lawmakers in the U.S. Senate rejected the measure by a slim margin of 47-49, though two senators who previously supported the measure did not vote.

Trump reignited the conflict earlier this month, rupturing a ceasefire during 60-day negotiations between the U.S. and Iran to end the war. The countries have since been trading rocket fire on a near-daily basis.

The most recent deaths of U.S. soldiers in the conflict bring the total killed to 18. Three service members were killed July 17 and July 18 in an Iranian strike at a U.S. airbase in Jordan, and a fourth was killed during a controlled detonation of an Iranian drone July 19 at a U.S. base in Iraq. 

The dignified transfer, in which the remains of soldiers are transferred from an aircraft arriving from the theater of operations back to the United States, occurred at Dover Air Force Base in Delaware. The soldiers were identified by the Pentagon as:

• Army 1st Lt. Tyler James Feehan, 25, of Ewa Beach, Hawaii
• Army Pvt. Isabella Gonzales, 19, of Carrollton, Texas
• Army Sgt. Angel S. Rampersad, 28, of Ozone Park, New York
• Army Sgt. Michael Emmanuel Swinton, 30, of Fayetteville, North Carolina

Gas prices shoot back up

Economic fallout is also center stage again as Iran has choked off nearly all traffic in the Strait of Hormuz, where a fifth of the world’s petroleum traveled prior to the war. 

Oil reached over $100 a barrel Thursday, and AAA clocked gas prices at $4.09 a gallon across the U.S.

Defense Secretary Pete Hegseth, who prefers the title secretary of War, told Senate appropriators Tuesday the war has so far cost $37.5 billion. The administration has requested an additional $67 billion.

Dissident Republicans

House Republicans who sided with Democrats to stop Trump’s military action in Iran included Reps. Brian Fitzpatrick of Pennsylvania, Thomas Massie of Kentucky, Warren Davidson of Ohio and Tom Barrett of Michigan. 

In the Senate, Republicans Lisa Murkowski of Alaska and Rand Paul of Kentucky, who both voted “yes” for some or all of the dozen Iran War Powers Resolutions considered so far during the conflict, did not vote.

A spokesperson for Murkowski said the senator returned to Alaska Wednesday for a family emergency. Paul’s office did not immediately respond regarding the reason for his absence.

Sen. Susan Collins, a Maine Republican locked in a tough reelection race, supported the measure Thursday.

As he has on all previous votes to curb the president’s war powers in Iran, Sen. John Fetterman, D-Pa., opposed the resolution, which some argue is not legal.

Secretary of State Marco Rubio told reporters in early May that the 1973 War Powers Resolution is “unconstitutional.” 

Congress overruled President Richard Nixon’s veto of the measure meant to rein in his actions during the Vietnam War.

According to Pentagon spokesperson Sean Parnell on Monday, 100 troops have been injured since July 7, and 96% have returned to work. 

The department’s Defense Casualty Analysis System only identifies five injuries during Operation Epic Fury in July, and 420 total since the conflict began Feb. 28.

Ferrari’s first electric car has already divided opinion long before most customers have even seen one in person. Now the Italian automaker is turning that controversy into a fundraising opportunity by auctioning off the very first production example of the Luce.

The car, identified as “Chassis 0,” will cross the block at RM Sotheby’s Monterey Car Week sale in August. Ferrari says the sale represents a unique chance to acquire the first production chassis from the Luce program, and all proceeds will go toward educational initiatives supported by The Ferrari Foundation.

Related: Ferrari Boss Was Thrilled When Fans Trashed The $640K Luce

That charitable angle could help push bidding well beyond the car’s already substantial value. RM Sotheby’s estimates the one-off EV is worth more than $1.1 million, a significant premium over the standard Luce, which costs $640,000.

RM Sotheby’s

What buyers will get in return is a Luce that’s been curated by Ferrari’s Tailor Made personalization division. The entire concept revolves around light and the way it changes the appearance of surfaces, with a color and materials package developed specifically for this example.

The exterior wears a bespoke Madreperla Semi-Gloss finish that Ferrari says incorporates a dedicated Tailor Made pigment. Depending on lighting conditions and viewing angle, the paint is designed to produce shifting reflections that move between green and violet tones. Ferrari also claims that the complexity of the finishing process means every application develops its own character.

Metallic Leather Upholstery

Inside, the cabin continues the theme with Perla Le Mans metallic leather paired with Grigio Corvara secondary trim pieces. Ferrari says the metallic leather was developed exclusively for the Tailor Made program and was selected for both its appearance and its ability to enhance the cabin’s sense of brightness. Whatever you do, don’t eat in there.

This particular Luce also receives color-coded wheels in a conventional five-spoke design, rather than the ugly disc wheels seen in some Luce launch images, and bespoke brake calipers. And there’s a unique plaque identifying it as the first production chassis of the Luce program.

Whether you view the electric Luce as a bold step into the future or an unwelcome departure from tradition, its place in Ferrari history is already secure. And the controversy could mean that for once the biggest auction price shock at Monterey isn’t how much someone paid for a vintage V12-powered 250 GT SWB or California Spider, but how much money changed hands for a modern Ferrari with no engine at all.

RM Sotheby’s

Last year, Ford pulled the plug on the F-150 Lightning. The move came after years of disappointing sales and a decision to embrace range-extended powertrains for full-size trucks and SUVs.

Now, nearly eight months later, inventories are almost sold out. A quick search reveals dealers only have around 100 new units left in stock and they’re being offered with generous discounts.

More: GM’s EV Trucks Bombed, So Dealers Are Offering Huge Discounts

One of the biggest deals is at Brinson Ford in Corsicana, Texas. Their F-150 Lightning XLT has been marked down by $20,471, which means the $65,940 MSRP has been slashed to $45,469. That’s 31% below sticker price and the model is now cheaper than the gas-powered F-150 XLT Crew Cab before discounts.

If you’re in the Midwest, Sam Leman Ford of Bloomington, Illinois has knocked $18,000 off their F-150 Lightning Flash. This lowers the cost of entry from $71,990 to $53,990.

Sheehy Ford of Springfield, Virginia isn’t quite as generous, but their F-150 Lightning XLT has been marked down from $66,190 to $49,900. This means buyers can save $16,290 on a four-wheel drive truck with 240 miles (386 km) of range. The latter is pretty stingy and it’s easy to see why the truck didn’t set the sales chart ablaze.

If you need more range, Flood Ford of Rhode Island has a 2025 F-150 Lightning Flash that can travel 300 miles (483 km) on a single charge. However, it costs $58,435 after a $15,000 discount.

Those are just a few examples, but the deals likely won’t last much longer as there’s only a handful of trucks left. That being said, General Motors is also struggling to sell their electric trucks, so there are plenty of options to be had.

General Motors had high hopes for electric trucks, so they went all in with a Chevrolet Silverado EV as well as two GMC pickups. Unfortunately for them, they’ve all been a massive flop.

The sales chart paints a brutal picture as Silverado EV sales have plunged 32.5% through the first six months of the year. Dealers have only sold 3,672 units, and that equates to a mere 612 per month.

More: North America Cratered And Even China Fell, Dragging Global EV And PHEV Growth To 0.9%

While Sierra EV sales were up 9.8% to 3,044 units, those gains were more than offset by a huge drop in demand for the GMC Hummer EV lineup. Sales of the truck and SUV plunged 54.9% through June to 3,601 vehicles.

Adding all those sales up results in a mere 10,317 units. To give you an idea of how bad that is, Chevrolet found 25,418 buyers for the ancient Express van.

Given low sales and lackluster demand, it’s no surprise that dealers are offering huge discounts on the Silverado EV. One of the biggest appears to be from Carr Chevrolet, which still has a 2024 model on their lot. To get rid of the work truck, the $75,345 pickup has been given a hefty $21,396 discount. This lowers the cost of entry to $53,949 before a $250 document fee.

McCarthy Chevrolet in Lee’s Summit, Missouri, also has a relic from 2024. In this case, it’s an upscale RST which stickered for $96,995. However, even after a $15,000 discount, it still feels overpriced at $81,995.

If you’d rather not have an electric truck that dates back to the Biden administration, Advantage Chevrolet of Hodgkins, Illinois, has an $8,589 discount on their 2026 Silverado EV LT Max Range. Since the model originally stickered for $95,584, buyers can now get it for $86,995.

It’s a similar story at Clay Cooley Chevrolet in Texas, where pricing on a 2026 Silverado EV LT has been slashed by $9,000. That lowers the cost of entry to $53,995.

If you’d rather opt for the more attractive Sierra EV, there are plenty of discounts to be found. AutoNation Buick GMC Corpus Christi is offering $10,565 in savings on a 2026 Elevation Extended Range. This lowers the price tag from $79,335 to $68,770.

Covert Buick GMC has knocked $7,000 off the price of their Sierra EV Elevation Extended Range. It now stickers for $60,685 before a $225 document fee.

Those are just a few examples, but there are countless others out there. As a result, it pays to shop around and haggle. It’s also worth noting that a number of dealers appear to be putting the EVs into service as courtesy transportation vehicles.

WASHINGTON — Federal Reserve Chair Kevin Warsh promised Tuesday to “put these years of high inflation behind us” and lower prices, including mortgage rates, for everyday Americans as inflation remains at the highest level in two years.

Warsh appeared before lawmakers on Capitol Hill just after the government’s latest monthly inflation data showed a slight drop, led by falling gas prices as the war in Iran cooled. 

But routine costs like food and fuel remain 3.5% higher compared to a year ago, a level of inflation last seen in May 2024, according to the Bureau of Labor Statistics’ Consumer Price Index for June. The report comes as the United States and Iran again ramped up the exchange of rocket fire last week in the Strait of Hormuz, a chokepoint for a significant portion of global oil.

The grilling by members of the House Committee on Financial Services marked Warsh’s first time before Congress since being confirmed to lead the central bank. 

The nation’s top banker faced questions not only about inflation, but also how he plans to insulate the Fed from President Donald Trump, following the U.S. Supreme Court’s decision to increase the president’s authority over agencies.

Warsh told lawmakers he will ignore political pressure and “follow the data” when deciding monetary policy decisions.

Warsh’s appointment was made after Trump’s long and public pressure campaign on former Fed Chair Jerome Powell to lower interest rates, and his firing of Fed Board Governor Lisa Cook. Trump also targeted Powell with a federal investigation over renovation costs, but eventually dropped the probe.

‘A potential second surge in inflation’

Financial Services Committee Chair French Hill, an Arkansas Republican, warned during questioning “a potential second surge in inflation is appearing due to factors outside the Fed. What the Fed can control is how it reacts.”

Hill said he was “encouraged” to hear Warsh commit to lowering inflation to the Fed’s target of 2%.

“Inflation affects Americans in the here and now, not in some hypothetical future composed of long-term projections. … How do you and your colleagues on the open market committee plan to accomplish that?”

Warsh said the Fed will examine interest rates and the central bank’s assets and liabilities to harness inflation.

“We have the tools to deliver that. So it’s a function of commitment, responsibility, and tools, and we’re three for three, and we’ll deliver,” he said.

Hammering on the topic of high costs of living, Rep. William Timmons, R-S.C., said “the people I represent should not have to endure another sustained period of elevated inflation.”

Warsh said he agreed with Timmons’ “diagnosis” that American households and businesses have suffered an “undue hardship.”

“What I would also say is I’m not in the business of trying to prejudge what the (Federal Open Market) committee I’m honored to lead decides,” Warsh said. “I think we need to have a continued good family fight on this subject. That’ll start again in a couple of weeks, and when we have news for you about exactly the methods of solving this problem, we’ll be very clear about what they are and so will the American people.”

Communications with public

Several questions from committee Democrats centered on how Warsh plans to communicate with the public after he announced plans to pare back press conferences and announcements. 

Rep. Nydia Velázquez, D-N.Y., asked Warsh if he can “commit today to creating a fixed public standard for which (Federal Open Market Committee) decisions and procedural changes trigger a press conference rather than deciding case by case which ones might be worth it?”

Warsh said it is “immediately important to think about reforms, including communications.”

“I don’t expect any of the changing communications to be about hiding the ball,” he said.

Rep. Andy Barr, a Kentucky Republican, cited a Wall Street Journal article criticizing the “constant yammering, long policy statements and press conferences” to signal future policy moves.

“Chairman Warsh, why is it important to do away with the dot plot and end once and for all forward guidance?” Barr asked, referring to a graph displaying data as dots.

Warsh said his Fed will not share “every passing thought.”

“I think being somewhat more circumspect in our communications, at least for me, is a better way of calling balls and strikes,” he said.

Will he ‘follow the president’s wishes’?

Warsh also faced numerous questions from Democrats on his commitment to protecting the Fed from Trump’s attempts to interfere.

Rep. Gregory Meeks, a New York Democrat, said “If the president publicly pressures you to pursue a different course than the one you believe the economic data supports, will you follow the president’s wishes or follow the data?”

“My commitment to you is to follow the law and follow the data, follow our very best judgment,” Warsh answered.

Meeks shot back: “Even if he publicly criticizes you for doing it? … Publicly criticizes you and tells you how disappointed he’s in you and all of that? Will you still do what the data tells you to do? … You ready for that?”

“I’m ready to follow the law, and I’m ready for the Fed to deliver on the expansive remit that you gave us,” Warsh replied.

Canadians shopping for a high-end electric SUV have another name to consider, and it wears a Lotus badge. The Eletre comes into the country at a reduced tariff rate, yet the sticker still lands well into luxury territory, nowhere near the cut-rate EVs plenty of locals were hoping the China trade deal would bring to their driveways.

Thanks to a new trade deal struck between Canada and China earlier this year, EVs imported from China are now only subject to a 6.1 percent. This has generated plenty of buzz among car manufacturers looking to expand their reach into Canada, with companies including BYD, Chery, and others all planning local launches.

Read: Canada’s China Deal Promised Affordable EVs, But $100,000 SUVs Are First Off The Boat

Lotus is one of the most prominent brands to benefit, as it’s owned by Geely and already has a presence in Canada, allowing it to quickly take some of the vehicles initially available at this reduced quota. They’re built in Wuhan and start at CA$119,000 (equal to around US$84,000 at current rates) for the base model, rising to $159,000 (US$112,000) for the flagship version.

Speaking with CTV News, Lotus Cars Americas chief executive Max Trantini said interest in the Eletre has been high, although he didn’t specify how many have been sold, nor how many have been imported. In an initial shipment sent to Canada in May, we know that 18 Eletres landed.

The softer tariff has done Lotus a real favor, given that the company had to sharply hike the Eletre’s US pricing in late 2024 because of tariffs there. What was originally going to be an EV starting at US$107,000 suddenly became one costing at least US$229,000.

The “Perfect” Car For Canada?

“We developed the U.S market for this car, and also the Canadian market for this car, but then due to the tariff we had to hold the import because of that situation,” Trantini said when referring to the US cars. “We believe that the car is perfect for the Canadian market.”

Under the new importation policy, up to 49,000 EVs can enter Canada at the reduced rate over the coming year. Recent data shows that 2,910 EVs from China have arrived since March 1, though oddly, none turned up in June or so far this month.

Photos Lotus Cars

Slate has built its entire pitch around simplicity, affordability and endless customization. Those goals sound great together, but spend just a few minutes in the company’s online configurator, and you’ll discover they can also work against each other.

It’s already easy to question the truck’s value compared to the Ford Maverick, but start checking option boxes without much restraint, and the budget-friendly EV suddenly looks a lot less like a bargain.

More: Carvana May Have A Foot In Bezos’s Slate Auto Already

The startup’s electric pickup starts at $24,950 before destination charges, but that’s only the beginning. Buyers wanting something more practical than the standard pickup can choose either the Squareback SUV conversion for $29,950 or the Fastback SUV for $31,950, both of which add a bed cap and rear seating. From there, it’s remarkably easy to inflate the sticker price.

The Accessory Rabbit Hole

Slate’s business model revolves around personalization, and the accessory catalog is extensive. Exterior wraps alone can add $1,599.99, while decorative decals, auxiliary lighting, roof racks, fender flares, alternate grilles, spare tire carriers, and upgraded 20-inch wheels all pile onto the total. The configurator even lets buyers choose whimsical graphics, including faux business branding, alongside more traditional racing stripes.

The interior follows the same philosophy. Buyers can add a center console, upgraded armrests, storage accessories, floor mats, and optional speakers because the truck doesn’t come with a traditional audio system as standard. A front-center speaker costs $249.99, while additional dash speakers add another $149.99. Even the dashboard-mounted tablet, which serves as the infotainment interface, a feature that will no doubt be popular, still doesn’t have a published price.

Also: Ford’s New $30K EV Truck Barely Clears An Expedition’s Shoulder

As Car and Driver found, and as we confirmed ourselves, stack enough of those accessories together and the math changes dramatically. A fully optioned Fastback SUV sailed past $46,000. Ours hit $46,607.49, to be exact, and you still have to crank your windows by hand, at least until the electric kit Slate has hinted at actually shows up. Keep in mind, there are some more exotic options like a lift kit, off-road tires, and more that aren’t priced or available yet, so the figure will go up. Importantly, none of this is a criticism of the strategy.

The Upside Of Paying For It

Pretty much every legacy brand boasts about all the customization buyers can do, but none of them come close to this. Slate lets customers choose exactly where to spend their money without hiding unique features behind a giant trim upgrade. Someone who simply wants a basic electric pickup can still buy one at the advertised starting price, while enthusiasts can build something far more distinctive.

That all said, it’s an important reminder that while a $24,950 truck makes headlines, the price out the door can be dramatically higher.

Photos: Slate Auto

When Fisker launched the Ocean One, it promised exclusive styling, long range, and performance worthy of its premium asking price. Just three years later, one example with only 17,000 miles on its odo has sold for less than the price of a new entry-level economy car. If you needed another reminder of how unforgiving the used market can be for vehicles from failed automakers, this is it.

The 2023 Fisker Ocean One crossed the auction block on July 7 for just $15,800 after attracting 30 bids. Originally priced at $68,999, that represents depreciation of more than 77 percent in around three years. This wasn’t a clapped-out, abused example, either.

Read: Polestar Owners Fear A Fisker-Style Resale Collapse After US Ban

Finished in blue over a black interior, the all-wheel-drive electric SUV features dual permanent-magnet motors producing 564 hp (421 kW) and 543 lb-ft (736 Nm) of torque from a 106 kWh battery pack. When new, Fisker claimed up to 360 miles (579 km) of driving range.

BaT

Equipment includes a SolarSky photovoltaic roof, 22-inch wheels, a rotating 17.1-inch infotainment display, heated seats, wireless phone charging, a 360-degree camera system, and the brand’s signature California Mode that lowers every side window at the touch of a button.

The Ocean auctioned on BaT showed just 17,042 miles on its odometer and came with a clean Carfax report showing no reported accidents or damage. The listing notes that the interior door handles were replaced in May 2026, but otherwise presents the SUV as a well-kept example with two previous owners. Honestly, the general package sounds appealing, especially for $15,800, but owning a Fisker requires a real commitment to the lifestyle.

BaT

Fisker’s bankruptcy left owners facing an uncertain future regarding software support, replacement parts, and long-term service. While owner communities have stepped up with resources and independent support, buyers still have to accept significantly more risk than they would with an EV from an established manufacturer.

Also: Buy A New Polestar For $25,000 Off. Small Catch, It’s Leaving The US

That said, there’s no question that the price paid here bought quite a lot of hardware and relatively low mileage. Whether it proves to be one of the biggest automotive steals, or one of the biggest headaches, will only become clear with time.

Photos BaT

Chinese EV startup Leapmotor, which has expanded into global markets, including Europe, on the back of its partnership with Stellantis and its sales network, just posted record numbers for the first half of 2026. Once you see how cheap some of the company’s newest models are, the surge makes sense. In Germany, one of Leapmotor’s entry-level EVs can be had for just €48.90 ($56) a month, and no, that number isn’t missing a zero. That works out to less than most people spend on a monthly phone plan for an actual car with a warranty.

A couple of years back, the German government pulled its EV subsidies, and sales cratered almost overnight. The incentives returned this January, knocking up to €6,000 ($6,800) off the price of a new EV for a family with at least two children and a combined income under €45,000 ($51,500).

Read: Stellantis Turns A Tiny Chinese Hatch Into A Delivery Van That’s Light On The Van Part

With that subsidy in play, plenty of shoppers can skip the down payment and delivery fees entirely and worry only about the monthly bill. The Leapmotor T03, which retails for €18,900 ($21,600), currently runs just €48.90 ($56) a month across a 36-month term, with mileage capped at 10,000 km (6,213 miles) per year. When the lease ends, buyers can purchase the T03 outright for €11,139 ($12,700) or hand back the keys and shop around for something else.

Why Is It So Cheap?

While one could argue that a family earning less than €45,000 ($51,500) shouldn’t be looking at a new car but rather a used one, being able to lease and drive one for just €1,760 ($2,010) over three years is one heck of a deal.

“The vehicle’s extremely competitive pricing is made possible by Leapmotor’s high level of cost efficiency,” Leapmotor told Nikkei Asia in an interview. “One key factor behind this is the company’s extensive vertical integration. Additionally, the leasing rate, which starts at just 49 euros, is made possible by German government incentives.”

Leapmotor Sales Surge

Some observers figured Leapmotor was pricing the T03 this low to clear inventory, worried the compact EV would fall foul of new EU rules that require camera-based driver assistance systems, upgraded autonomous emergency braking, and enlarged head impact protection zones for pedestrians and cyclists. However, a Leapmotor spokesman has rejected this, stating the T03 complies with these new rules.

Through the first half of 2026, Leapmotor has sold 356,487 vehicles globally, a 95 percent increase over the same period last year. It enjoyed a particularly strong June, selling a total of 93,376 models, also a 95 percent year-on-year increase. Since its formation, the company has sold more than 1.55 million cars.

After the US government’s shock announcement that Polestar can no longer sell its vehicles in the US beyond the 2026 model year, the company has rolled out steep savings for anyone brave enough to buy one of its last remaining cars. If you’re not worried about the brand’s impending US exit, you could walk away with an exceptional deal.

Polestar has just announced a $25,000 clean vehicle incentive for both the Polestar 4 Rear Motor and the Dual Motor. With this significant price cut, it’s now possible to buy a Polestar 4 Rear Motor for just $31,400, which is less than the price of a new Chevrolet Bolt RS. The Polestar 4 Dual Motor version is available for a measly $37,900. To put that into perspective, a Model Y Performance will set you back at least $57,990.

Read: Polestar Owners Fear A Fisker-Style Resale Collapse After US Ban

If you don’t have the cash to buy a new Polestar 4 up front, the company is also offering a $19,000 incentive that can be applied to leased vehicles. At just $399 per month for 39 months, the leasing deal is certainly rather tempting for those in the market for a new EV, and a very impressive one at that.

Polestar 3 Savings

Of course, it’s not just the Polestar 4 that’s available with big savings. Polestar has announced a $23,000 incentive for the larger 3 SUV, lowering the price of the Long Range Single Motor to just $44,500. Additionally, the Long Range Dual Motor is available for $50,400, and the flagship Long Range Dual Motor with Performance Pack is available for $56,400, down from $79,400.

Leases for the Polestar 3 are also available for as little as $579 per month for 27 months, depending on your location, and leases also include a $20,000 incentive.

Importantly, Polestar’s current deals are only available until July 31, and shoppers must take delivery by that date. Obviously, buying a vehicle from a company that will soon no longer exist in the US is a risk, but unlike Fisker, Polestar will continue to operate globally, and the company says it will continue to operate its existing service centers across the country.

Polestar

If you were hoping Slate’s bargain priced electric truck would rescue Canada’s affordable EV market, we’ve got bad news. The startup has confirmed its piccolo pickup isn’t heading north, leaving Canadian buyers to admire it from across the border.

Slate burst onto the scene in 2025 promising a genuinely inexpensive electric truck, and it’s delivered on that promise. Backed by Jeff Bezos, the startup recently confirmed pricing starting at $24,950 for its two-seat pickup, while its Squareback and Fastback SUV conversions begin at $29,950 and $31,950 respectively. Deliveries are currently scheduled to begin in late 2026.

Related: Slate Bets Its Electric Truck Is So Cheap That It’ll Turn A Profit

The company has pitched a radically simple formula. Forget giant touchscreens, powered seats, keyless entry and even power windows. Buyers get a basic electric pickup with hand-crank windows, room for two, a projected 205 miles (330 km) of electric range and the ability to add accessories later instead of financing equipment they might never want.

Unfortunately, Canadian customers won’t get the chance to decide whether that minimalist philosophy makes sense. Speaking to Automotive News Canada, Slate spokesperson Jeff Jablansky confirmed the company’s strategy stops at the US border, saying simply, “We do not have plans to sell vehicles in Canada.”

Jablansky didn’t explain the decision, but economics likely played a major role. Since Slate plans to build its trucks in Indiana, they would face Canada’s retaliatory 25 percent tariffs on American-built vehicles. Add those import duties to exchange rates and the truck’s eye-catching US price suddenly loses much of its magic, potentially climbing into territory that no longer looks like an unbelievable bargain.

Thousands Of Reservations

That’s especially disappointing because affordability has become one of Slate’s biggest selling points. The startup reportedly has around 180,000 reservations, though converting refundable deposits into actual sales remains one of the biggest hurdles facing any new automaker. Whether buyers will really embrace keep-fit windows and almost no standard equipment is another question entirely.

Canadian shoppers looking for an inexpensive electric pickup aren’t completely out of luck, however. Ford has already begun teasing its own compact electric truck, which is expected to start below $30,000 in the US, where it’ll also be built. Unlike the Slate, Ford’s newcomer is planned for Canadian showrooms too, though exactly how tariffs and exchange rates will affect pricing north of the border is unclear. For now, the cheapest new electric truck in America will stay exactly that – an American-only proposition.

Slate Auto

A new analysis of the US car market reveals how much the average driver could save on fuel by switching to an EV. On average across the country, replacing a gasoline-powered vehicle with a typical EV charged at home currently saves drivers nearly $1,500 a year at the pump. However, that figure varies considerably by state, with the West generally delivering the biggest savings.

See: Ford’s $30,000 Electric Pickup Just Got Its First Official Look

By pairing the average driving distance of American motorists with typical fuel and electricity prices, Bloomberg has mapped where buying an EV makes the most sense. Leading the charge is Washington, home to the third-highest gas prices in the country yet also among the cheapest states for electricity, largely thanks to hydroelectric power and public utilities. As a result, locals making the switch could save up to $2,346 a year. Oregon ranks close behind, with estimated annual savings of $2,057.

Other states where typical fuel costs far outweigh average EV charging costs include Nevada, Arizona, Idaho, Montana, Utah, Wyoming, and Colorado. Roughly one-third of drivers considering an EV cite potential fuel savings as their motivation, a recent JD Power survey found.

Read: Some States Give Up To $9,000 To Buy An EV, Others Charge You Hundreds

The same survey showed interest climbing in May, with 26 percent of car shoppers calling themselves “very likely” to go electric, up three percentage points from a year earlier.

EV Market Share By State (Jan-Apr 2026)

S&P Global / Bloomberg

The Costs That Cut The Other Way

Admittedly, the average EV still costs more than a comparable combustion model, but buyers also benefit from lower running costs and noticeably less maintenance. That price gap has been narrowing too, though EVs do tend to depreciate faster. And the recent climb in fuel prices, set off by the war in Iran, has only strengthened the case for going electric.

That said, Bloomberg reports electricity prices have crept up as well, climbing 8.6 percent over the past 12 months, partly on demand from AI data centers. Even so, those increases are minor next to the surge at the pump.

Also: North America Cratered And Even China Fell, Dragging Global EV And PHEV Growth To 0.9%

“Given how high gas prices are, you’re doing a lot of savings everywhere, but these places are pretty good,” Zero Emission Transportation Association research director Corey Cantor said. “It’s definitely a huge selling point.”

Cantor added that buyers often overlook fuel costs: “You see gas signs everywhere, but you don’t necessarily see dollars per kilowatt signs, unless you’re using an app. You kind of have to crunch the numbers yourself.” States where electricity is cheap and gas is expensive, he said, are where the shift could stick: “Those are the types of places that give you optimism for long-term EV transition, because it’s really just market forces at work.”

The Insurance Catch

Of course, there’s always a but. One cost the fuel math analysis leaves out is insurance, where EVs tend to lose ground. A separate Insurify study we shared recently found that in Washington, the same state topping the savings chart, a newer EV runs 30 percent more to insure than a comparable gas model, $3,260 against $2,515. Oregon shows an even wider gap at 36 percent, and Nevada sits at 26 percent. So part of what you save at the plug, you hand back to the insurer.

The picture isn’t uniformly grim, though. Nationally the average EV runs $3,159 a year to insure versus $2,218 for a gas car, a 42 percent spread, but that collapses to 18 percent once you line up only 2024-and-newer models against each other.

A few states reverse the order entirely. Montana and West Virginia both insure a newer EV for 4 percent less than the gas equivalent, and Nebraska leans the same direction. None of it cancels the fuel savings, but it does mean what you actually pay to run an EV rides on your zip code’s insurance rates as much as the gap between gas and electricity.