Car news this week: Top stories May 22-28, 2022

Every week we’ll keep you updated and bring you the ‘water cooler’ information about what’s been happening in the world of cars and driving with the five biggest stories we’ve covered. Here’s what you need to know…

Electric vehicle giant Tesla has suffered a significant drop of $558.19 billion ($AU790 billion) since November last year. The plunge comes as the company’s CEO, Elon Musk, struck a deal to take over Twitter. Read full details in our article.

Mercedes-Benz has unveiled plans to drop three of its seven most affordable compact models. As part of a new business strategy, the German automaker will also focus on more expensive cars – all in an effort to boost profits. View all details here.

German manufacturer BMW reported dismal sales results in April, with inventory shortages continuing to slow deliveries. The 22.8 percent drop leaves the automaker behind its luxury rivals Mercedes-Benz and Audi. Read the details here.

Ford Australia has issued a statement in response to its showroom networks charging extreme dealer delivery fees for high-demand vehicles.

As inventory shortages continue due to production delays, dealers have added excessive delivery costs to purchases of popular vehicles in an effort to boost profits. Check out the brand’s reaction in our story here.

Japanese auto giant Toyota is undergoing another round of production at its Japanese factories. Continuing parts shortages have caused the manufacturer to experience more than 15 rounds of production stoppages since early 2022. Check out our article to read all about it.

These are the most read stories of the week. You can read all the car news covered by Motive on our news feed here.