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Nissan unveiled the Nissan Sylphy at the Shanghai Auto Show earlier this month and spies have caught it in the US virtually confirming it will be coming to the US as the next generation Nissan Sentra. Looking like a mini-Nissan Altima, Nissan says the chassis is now much stiffer and they have gone and improved the suspension and steering feel. The interior has been made to look much more luxurious with quilted seats and a slicker looking dashboard. The infotainment system is a 8-inch TFT screen and the driver gets a 7-inch TFT gauge cluster. Nissan's ProPilot Assist will be available and includes things like collision warning, blind spot warning, lane departure warning, cross traffic alert, and others. No details yet on powertrain except that Nissan says the 4-cylinder engine and CVT have been updated.

Cadillac is aiming to boost its dealership network in China to about 500 stores by 2025, about a 65% increase over the 302 it has in operation today. Cadillac President Steve Carlisle said that Cadillac in China has become a credible alternative to the German luxury brands, and that their average buyer age is 32 years old. Cadillac has plans to introduce a new Cadillac model every 6 months through 2021. Carlisle also announced that Cadillac will release a refresh of the Cadillac XT5 later this year. Cadillac sold over 205,000 vehicles in China last year, a 17 percent increase over the year prior. That compares to just 154,700 sales in the US.

Tesla posted a $722M loss for the first quarter of 2019, higher than analysts expectations. This was a swing from a 4th quarter 2018 profit of $139.5M. Cash on hand is $1.5B lower than end of 2018, now $2.2B, partially due to a one time payment of $920M in convertible bonds that came due. Tesla says that is built 63,000 model 3s in the first quarter gearing up for overseas sales, though only 12,100 of those vehicle were delivered. Tesla is maintaining its projections of 360,000 to 400,000 vehicles total for the year. Tesla recently announced updates to its Model S and Model X vehicles that allow them to travel further on a single charge and also charge up to 50% faster than before. These updates require the purchase of a new vehicle and cannot be simple downloads over the air. They are also offering current owners who purchase a new Model S or Model X Performance model a free upgrade to Ludicrous Mode. Part of the reason for this upgrade is that the Model S, Model X, and Model 3 now share drive components and that simplification could yield big savings for the company. Tesla is also preparing for the launch of the Tesla Model Y small crossover based on the Model 3 sedan, but deliveries of that vehicle do not start until Fall 2020

Ford reported first quarter operating earnings of $801m, up $160m over the same quarter last year. The company says that it expects this quarter to be the strongest quarter of the year due to seasonal factors and major product launches later this year. However, the company says it still expects to finish 2019 better than 2018. Outside of North America, Ford is still losing money, but those losses are shrinking. Ford recently announced a restructuring plan for Europe that included over 6,000 layoffs. Also in the earnings report, Ford revealed that the company is subject to a criminal investigation by the Justice Department due to its emissions certifications. We recently reported that Ford had launched its own internal investigation into its emissions certification process. Ford's stock rose more than 6% in premarket trading.