Tesla is offering discounts and special loan rates on the newly revamped Model Y, signaling weak demand. Get all the latest automotive news in the Executive Briefing.

Today’s Headlines: 

+   Ford reported a 16 percent increase in sales in April as shoppers rushed to make their purchases before U.S. tariffs take effect, although EV sales tumbled 40 percent. More at World Auto Forum. 

+   Canadian auto parts mega-supplier Magna International plans to implement cost-saving measures to cushion the blow from President Donald Trump’s sweeping tariffs. More at Yahoo! Finance. 

+   Chinese electric vehicle manufacturer Xpeng delivered 35,045 vehicles in April, sustaining its record of delivering more than 30,000 vehicles for the sixth consecutive month. More at CNBC. 

+   Red Bull Formula 1 advisor Helmut Marko called the team’s race pace “depressing” after Max Verstappen slumped to a distant fourth place finish in the Miami Grand Prix. More at Motorsport.com. 

+   General Motors is moving the production of 50,000 Chevrolet Silverado trucks from its Oshawa, Ontario plant to facilities in the United States to reduce U.S. tariff costs. More at Autoblog. 

+   The operating margin at Volkswagen AG’s namesake Volkswagen brand fell to just 0.5 percent in the first quarter, compared to 3.9 percent in the same period last year. More at The Detroit News. 

+   Mazda is investing $1.27 billion in its operations in China, where it plans to produce 300,000 vehicles per year by 2027, with EVs and hybrids generating 90 percent ot the volume. More at CarNewsChina. 

+   The 2026 Mercedes-AMG GT 63 APXGP Edition, limited to 52 copies, is painted to match the livery of the fictional Formula 1 car driven by Brad Pitt in his upcoming movie, F1. More at The Drive. 

+   Tesla is offering cash discounts and a special 1.99 percent interest rate for the Model Y, signaling that the newly redesigned electric crossover is not selling as well as expected. More at Electrek. 

+   Mike Kertcher, president of Road America in Elkhart Lake, Wisconsin, says he would love to see NASCAR return to the road course, but there are no talks underway. More at the Milwaukee Sentinel Journal. 

Photo courtesy of Tesla. 

Review the previous MCG Executive Briefing from May 2 here.

Join Mac’s Motor City Garage on Facebook and X to receive notices when every new story is published.