Nutson's Weekly Auto News Wrapup April 26-May 2, 2026

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Here are Larry’s Top Auto Story Picks of the Week of April 26-May 2, 2026: Larry picked these as important, relevant, interesting and sometimes semi-secret stories you need to know—served up as snappy, opinionated, and insider-sharp, these are expertly crafted, easy-to-understand news nuggets that cut through the noise and get right to what matters to you in the automotive world.

* Earth Day 2026 was Wednesday, April 22, 2026, marking the 56th annual celebration focused on environmental protection. First held on April 22, 1970, to promote environmental awareness, Earth Day has grown into a global, annual event observed by millions to champion sustainability and environmental protection.

* High car prices and mortgages. If you are considering a new car while also trying to buy a home, you may want to rethink that. Hefty payments can hinder people's ability to obtain a mortgage. More on this HERE

* Negative equity trap. About 30% of car buyers trading in vehicles in the first quarter had negative equity, owing an average of about $7,200 on their old loans. High pandemic-era car prices and elevated interest rates caused negative equity, leading to longer loan terms for buyers. A 2024 study found borrowers rolling over negative equity were more than twice as likely to face repossession within two years. Read more on this HERE

* No more low price new cars, maybe. Foreign automakers warn they may pull their cheapest car models from the U.S. market if the USMCA is not renewed or is weakened. President Trump’s second-term automotive levies, including a 25% tariff on non-U.S. content, make it unprofitable to build affordable models. The potential loss of affordable cars clashes with the administration’s push to address voters’ cost of living concerns. HERE

* Used EVs with affordable prices. Analysts say lower prices of used electric cars and the surging cost of gasoline will encourage more people to consider models that they may have found too expensive earlier. Leases on some 300,000 two- and three-year-old electric vehicles will expire this year, up from just 123,000 in 2025, and many of those cars will return to the market as used cars. They will be followed by 600,000 in 2027 and nearly 660,000 in 2028, according to Cox Automotive, a market research firm. Read and give it a think. HERE

* Gas prices. GasBuddy says: It was the most expensive Friday to fill up since summer 2022 with the national average price of gasoline at $4.42/gal, and we'll head a bit higher before easing this weekend. Diesel keeps climbing as well, up to $5.56/gal, 25 cents below its all-time high.

* Ford and China's Geely. Ford Motor and Chinese automaker Geely held talks this year about a potential U.S. tie-up, but these discussions have stalled. The companies are now focused on negotiating a deal to share technology and manufacturing capacity in Europe. U.S. tariffs and a ban on Chinese connected-vehicle software create major hurdles for Geely’s expansion plans. More HERE

*A strange new hybrid. Reports of the death of the internal combustion engine have been exaggerated. The rotary engine makes a comeback for cars and drones as gasoline gains popularity as a complement to electric motors. Get the scoop HERE

* Carfax Used Car Index. Used car price trends for May 2026 say prices are up, but there may be a silver lining. The average depreciation — the amount of value a car loses over time — has actually dropped recently, meaning that those owners should get more money for their used car than they would have pre-pandemic. More on this HERE

*Beijing auto show. Chinese electric-vehicle brands and global players showcased large, American-style SUVs and pickup trucks at the Beijing auto show. Carmakers are embracing larger vehicles due to Chinese consumer demand for status and upgrades, and because bigger cars are more profitable. The Beijing auto show, called the world’s largest, displayed 1,451 vehicles. But note, Chinese-made models face U.S. tariffs. Have a look. HERE

* Hyundai recall. Hyundai is recalling 2,931 Elantra and Tucson models for misassembled airbag sensors. Faulty sensors may delay airbag deployment, increasing injury risk in certain crashes. Model years 2025 and 2026 are affected.

* Ford Recall.Ford is recalling nearly 5,000 Bronco SUVs because they may have misaligned transmissions and transfer cases due to incorrect repair work. That could lead to premature wear of the shaft splines and could result in the vehicle rolling away or losing motive power while driving. The recall affects the 2021-2025 Bronco

* Jeep and Dodge recall.Stellantis is recalling over 20,000 vehicles due to a faulty instrument display panel that fails to display gear selection, warning lights and other critical safety information, subsequently increasing the risk of a crash. The recall affects approximately 11,743 2024-2025 Jeep Wagoneer S vehicles and 8,528 2024-2025 Dodge Charger EVs, according to the National Highway Traffic Safety Administration.

* Colorado drag strip approved. Bandimere Speedway closed in 2023, but its owners have been plotting a comeback ever since. Local news station 9News reported that the town council of Hudson, Colorado, has unanimously approved annexation and zoning measures for the new location next to Interstate 76 northeast of Denver. Learn more in this story from The Drive. HERE

* Ford Racing electric Mustang.The Ford Racing Mustang Cobra Jet 2200 set a record last weekend as the fastest electric vehicle over a quarter mile, completing the distance in 6.87 seconds at the NHRA 4-Wide Nationals in Charlotte, N.C. The dragster features a dual-motor setup producing 2,200 horsepower, a patented clutch and advanced gearing, demonstrating the performance potential of EVs and shifting the motorsport narrative away from combustion engines. Details HERE

* One Lap of America. The 2026 Tire Rack One Lap of America is currently underway, having kicked off on May 2, 2026, at the Tire Rack Headquarters in South Bend, Indiana. This year's event covers nearly 3,000 miles across the middle of America, featuring eight days of endurance and speed testing for street-legal cars. The 80 entries will make stops in Iowa, Oklahoma, Colorado, Nebraska, Wisconsin and Illinois, ending with a return to the Tire Rack HQ on May 9.  

* RIP. Alex Zanardi, the legendary Italian racing driver and Paralympic champion, passed away at the age of 59 on May 1, 2026. His family announced that he died "suddenly" but "peacefully," surrounded by his loved ones. Zanardi was a global symbol of resilience, having survived a near-fatal crash in 2001 that led to the amputation of both his legs, only to reinvent himself as a world-class para-cyclist. Zanardi was a two-time CART Champ Car champion (1997, 1998) and competed in Formula 1 for five seasons with teams like Jordan, Lotus, and Williams. More on Alex HERE

* RIP. Adria Force Hight, the oldest daughter of 16-time NHRA Funny Car champion John Force, has died. She was 56. After graduating from Huntington Beach High School, Adria joined the family drag racing business, becoming one of the first employees of John Force Racing. She played an instrumental role in building the organization from the ground up, handling everything from answering phones and selling t-shirts out of the race trailer, to ultimately serving as CFO of one of the winningest teams in motorsports history.

Stay safe. Be Well.
Kind regards,
 

Larry Nutson,
The Chicago Car Guy
The Auto Channel