Porsche Exits Bugatti: Post-VW Era Begins with $45% Stake Sale to HOF Capital

Welcome to The Downshift, or TDS for short. This roundup delivers the latest automotive news from around the world, summarized for quick reading with links for deeper dives.

Bugatti’s Post-VW Chapter Closes as Porsche Sells Stake

Volkswagen’s involvement in Bugatti has officially ended. Porsche has sold its 45% stake in Bugatti Rimac and a 20% share in the Rimac Group to a New York-based consortium led by HOF Capital, the companies announced in a joint press release on Friday.

This move leaves Bugatti’s future product direction under Mate Rimac, while Porsche refocuses on its core business, according to CEO Michael Leiters.

Stellantis to Prioritize Four Key Brands

Stellantis CEO Antonio Filosa will reportedly concentrate investment on just four of the conglomerate’s 14 brands: Jeep, Ram, Peugeot, and Fiat, Reuters reported, citing sources familiar with the decision.

Kia EV6 Pricing Drops for 2026 Model Year

Kia’s 2026 EV6 is priced up to $5,450 lower than its predecessor, starting at $39,445 (including destination), according to Car and Driver.

Carvana Expands Dealership Network

Carvana has acquired its seventh Chrysler/Dodge/Jeep/Ram dealership since launching its brick-and-mortar sales initiative in early 2023, Automotive News reports.

Audi Phases Out Entry-Level Models

Audi is discontinuing the A1 and Q2, exiting the segment of smaller, budget-friendly vehicles, Autocar confirms. Neither model was sold in the U.S., but the A1 debuted in 2010 and spawned the limited-edition A1 Quattro.

New EVs Unveiled at Beijing Auto Show

Hyundai introduced the Ioniq V for the Chinese market at the Beijing Auto Show, Electrek reports. Described as a blend of Prius and Cybertruck styling, the vehicle’s design has drawn mixed reactions.

Meanwhile, BYD’s Fang Chang Bao subsidiary debuted an electric two-seat convertible called the Formula X, slated for production in 2025, per CarNewsChina.

Formula 1 Returns to Istanbul Park

Formula 1 has secured a five-year deal with Turkish Grand Prix organizers to revive racing at Istanbul Park starting next year.

Weekend Races to Watch

• WRC Rally Islas Canarias: Thursday, April 23 to Sunday, April 26 (Live on Rally.TV)
• NASCAR O’Reilly Auto Parts Series at Talladega: Saturday, April 25 at 4 p.m. Eastern (Live on CW)
• MotoGP Spanish Grand Prix: Sunday, April 26 at 8 a.m. Eastern (Live on FS1)
• NASCAR Cup Series at Talladega: Sunday, April 26 at 3 p.m. Eastern (Live on FOX)

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