#479 -🔥 Collaboration Ignites Compassion

TOGETHER WITH

Luck isn’t real.

Finding a four-leaf clover doesn’t make you lucky. It displays a willingness to be patient and persistent enough to beat 1 in 10,000 odds.

You didn’t get where you are today from luck, and you will get where you want to be tomorrow the exact same way.

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

TODAY’S LOT WALK

• John Eagle Honda goes all out for kids.

• From not enough inventory to too many EVs?

• American cars are getting chonky.

Reading time: 4 min and 28 sec

DEALERS

Children and Charity

Hats off to the remarkable team at John Eagle Honda in Houston for driving change and supporting kiddos in need.

Their June community initiative led to a generous $25K donation to the Texas Children's Hospital Charity Care Fund.

Their inspiration? A brave 10-year-old cancer survivor.

By pledging $100 for every vehicle sold and $1 per every hour of service, they are proving how much collaboration ignites compassion.

DATA & INSIGHT

Too Many EVs?

Lately, we’ve been reading about the EV oversupply. We wanted to get the deets, ask questions, and deliver facts for navigating whatever comes next.

No matter what happens, it will start in the dealerships that communities across the country trust to keep them getting where they want to go. Let’s dive in.

What is Happening?

• 📈 🚙 🔋 The Inventory Pile-Up: Inventories are bulging with about 92,000 EVs at dealerships. Don't mistake this for a slump; the industry is accelerating faster.

• 🗓 ⏳ 🐌 Sales Dynamics: 92 days to sell all-electric vehicles? It's a longer waiting game but part of the EV's growing pains.

Why Is It Happening?

• 🏭 🏭 🏭 Increased Production: Automakers are racing to meet EV demand, resulting in a 342% increase in available EVs.

• 🪖 🗡 🥷 Price Wars: Thanks to the competition, new EV prices are down 15%, and price cuts from Tesla and Ford have made things even harder to predict.

• 👍 🤷 👎 Consumer Interest: While up to 51% of consumers are considering EVs, challenges like home charging access and resistance to change in driving habits create a complex buying landscape.

Read how brands are addressing the issue when the tide is expected to shift and some tips for thriving amid the chaos in the full article on ASOTU.com.

TOGETHER WITH FULLPATH

Coming In Hot 🌶

Your equity data + Fullpath’s CDXP = major $$$ for your dealership. Their Q3 live launch is coming in hot with an all-new equity engine designed to help you:

• Send your equity-positive shoppers relevant upgrade or trade-in emails automatically

• Target equity-positive leads with ad campaigns to drive more sales

• Dynamically generate landing pages for your equity-positive shoppers on your website

You’ve already got the data - now you need to put it to work. Join FullPath on LinkedIn and Facebook on August 15 at 12 PM EST to watch it unfold in real-time.

AROUND THE ASOTU-VERSE

Join David Long and the All Things Used Cars community this morning for another exciting discussion. This week the pros talk acquisition channels and their gross value to the business.

ASOTU CON 2023

BUSINESS

GM Ditches Apple and Android

👍 GM has confirmed the new $130,000 Cadillac Escalade IQ won't include Apple CarPlay or Android Auto, instead featuring Google built-in infotainment software.

📺 Despite a 55-inch infotainment screen, the ultra-luxury EV will not support these popular phone projection features, aligning with GM's decision to restrict access to them in future EVs.

Ram Lands Fleet Deal

💰 Merchants Fleet has committed to purchasing 12,500 Ram ProMaster EVs over the next few years, making it a critical commercial customer for the all-new electric van from Stellantis.

🚙 As North America's first fully electric van, the Ram ProMaster EV is expected to transform the market with its innovative features and versatility. Following a similar deal with Amazon, the partnership adds momentum to Ram's electrification efforts.

ZEEKR v. Tesla?

👦 Young EV brand ZEEKR is teasing a performance version of its 001 sedan, aiming to enter the sports car segment and targeting Tesla.

⏩ Owned by Geely, ZEEKR is quickly expanding with new models like the ZEEKR X SUV, designed to compete with Tesla in China. The new performance sports car, 001 FR, will launch in weeks, priced above RMB 1 million ($138,700), as ZEEKR continues to reach milestones and expand into new markets.

Li Auto’s Plan

🥊 Li Auto plans to outsell BMW, Mercedes-Benz, and Audi in China by 2024 as it accelerates new model launches and ramps production.

🔋 The Chinese automaker, which gained market share in the premium segment, targets 40,000 monthly deliveries in Q4 and expects its first pure electric model to lead in its price category. Li Auto's sales grew 145% in the first seven months of 2023, and the company aims to deliver over 100,000 vehicles in Q3.

CULTURE

America’s Chonkier Cars

American cars are facing a growing concern: excessive weight gain.

With the average new vehicle gaining 175 pounds in the last three years, the shift to electric models further exacerbates this ballooning issue.



Last year, the average weight of a US-sold vehicle hit a staggering 4,329 pounds, surpassing the 1980 average by 1,000+ pounds. 

This trend began in the 80s due to safety regulations and has continued to be fueled by consumer preferences for larger SUVs and pickups.

But the weight gain isn't just about aesthetics. It’s also about safety. Every additional 1,000 pounds on a vehicle raises the risk of fatalities by a staggering 47%. As the US shifts towards EVs, shedding some of that weight will be crucial for staying competitive.

Quick Hits

• Coach And Michael Kors owners merge in a $8.5B deal. 👜

• Deadly wildfires burning across Maui have prompted mass evacuations. 🔥

• Amidst the actor and writer strikes, the 2023 Emmy Awards have been rescheduled. 🏆

History

• 1885: $100K is raised for the pedestal for the Statue of Liberty. 🗽

• 1919: George Calhoun and Curly Lambeau found the Green Bay Packers football club. 🏈

• 1989: The Voyager 2 space shuttle discovers two partial rings of Neptune. 🪐