Ford Sales Are Down, But Rich People Keep Buying Raptors

Happy Wednesday! It's July 29, 2026, and this is The Morning Shift — your daily roundup of the top automotive headlines from around the world, in one place. This is where you'll find the most important stories that are shaping the way Americans drive and get around.

In this morning's edition, we're looking at Ford's sales and revenue, as well as BMW's plan to downsize the company. We'll also look at how Lamborghini has weathered the war on Iran, and an Audi worker protest.

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Ford's 2026 started off rough, but the automaker is actually increasing its revenue estimates for the rest of the year. Why? Simple: Rich people can't get enough Raptors. From the Wall Street Journal:

Ford Motor's revenue fell in the second quarter amid declining U.S. sales. The automaker is nonetheless upbeat about the auto industry.

The Dearborn, Mich., company on Tuesday raised its full-year profit forecast and said it is confident Americans would continue to buy pricey, big pickups and sport-utility vehicles that dominate its lineup.

"We play only where we have real competitive advantage, or we can build one, and we're ruthless about where we put our money," said Ford Chief Executive Jim Farley in a call Tuesday with analysts. "Every dollar must earn durable returns and drive profitable growth."

Ford shares were up 7% in after-hours trading following its second-quarter financial results Tuesday. The automaker raised its full-year outlook on earnings before interest and taxes to between $10 billion and $11 billion, up from $8.5 billion to $10.5 billion.

Ford's sales in the first half of 2026 were down nearly 10% compared with a year prior. The automaker continues to recover from a supplier fire that significantly affected pickup production while fewer Americans overall are buying new vehicles.

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The automaker's stance on American car buyers reflects the auto market in recent years. Average transaction prices continue to hover around $50,000. More than one million usual buyers have opted out of the new-car market, opting instead to buy used or to keep their existing vehicles. Still, high car prices have kept earnings steady.

Ford's looking to add more budget models to its lineup, but it seems like the core of its offering is the expensive off-road pickup segment. Turns out, you don't actually have to move volume to make money, you can just sell cheap-to-produce products to rich marks for wild markups. 

All the big automakers are shedding staff as fast as possible, because MBAs can only understand cutting costs and not adding more value to a product offering. Now it's BMW's turn, as the company aims to cut 8,000 jobs in Germany. From the Wall Street Journal:

BMW aims to cut around 8,000 jobs in Germany via a voluntary severance program, according to a person familiar with the plan.

The potential cuts come a month after the German carmaker slashed its sales and profitability guidance amid fierce competition in China and other countries in the Asia-Pacific region.

The proposed severance program, which would run through the end of next year, will be offered to employees in administrative positions and exclude production jobs. BMW employs about 80,000 people in Germany.

Are these automakers modeling their new corporate structures after Chinese competitors, or are they just cutting staff because salaries are the biggest entry on the Liabilities side of the profit equation? As a holder of a degree in business, I have an inherent distrust for MBAs. 

Lamborghini's profits have also been hit by the U.S.-Israel War on Iran, though not nearly so badly. Turns out the kind of people who buy Lamborghinis aren't exactly affected by rising gas prices, even if the company's profit margins have taken a hit from tariffs. From Reuters:

Italian luxury sports carmaker Lamborghini reported an over 8% drop in its half-year operating profit ​on Wednesday, reflecting sector-wide fragility spurred by ‌tariffs and the conflict in the Middle East.

The Volkswagen-owned luxury brand's operating profit was €395 million ($450 million) in the first ​half of 2026, versus €431 million a year ​ago. The operating margin fell to 22.7% ⁠from 26.5% in the same period last year.

"The ​negative impact of the increase in U.S. tariffs, ​introduced last year, and adverse exchange rate fluctuations affected the performance," Lamborghini's Chief Financial Officer Paolo Poma said.

The carmaker's ​revenue grew 7.4% to €1.74 billion, even as it ​delivered 4.6% fewer vehicles at 5,422, compared to a year ‌earlier.

Expect to see more and more of this business plan going forward: Sell to the rich in smaller numbers, rather than to the masses en masse. Doesn't matter if half the world population is broke or homeless or dead, so long as you can sell Lambos to Jeff Bezos. 

Audi is also cutting costs, with an eye towards closing a factory. The workers at that factory, as you might imagine, are not generally in love with the idea. From Reuters: 

Thousands of Audi workers demonstrated on Wednesday against the possible closure of the ‌German automaker's Neckarsulm plant as parent Volkswagen pushes ahead with a group overhaul expected to include tens of thousands of job losses.

The protest came as rival premium carmaker BMW announced thousands of job cuts, the latest blow to employment ​in Germany's auto industry, where high costs, growing Chinese competition and U.S. tariffs are forcing ​painful restructuring.

"We are scared of factories closing and endangering our future," Audi worker ⁠Melih Cevlik said at the protest in Neckarsulm.

About 6,000 people took part, according to the works ​council.

Shareholder primacy and its consequences have been a disaster for the human race. 

Nothing like a fear of nukes to motivate you.

We got a downturn for once! Everything will be fine forever, continue buying Raptors. 

Johnny Health, put the pills under your tongue.