#508 - 🌿 Plants Push On

TOGETHER WITH

We get better at everything we do.

Being kind to your work family today means you’re better at being kind to your home family tomorrow. Eventually, it all adds up to an authentic sense of “welcome” to everyone who enters your store.

Can’t find that online or in a vending machine.

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

TODAY’S LOT WALK

• MTCM: West Herr’s snack attack! 🍎

• Data & Insight: New Cars sales is our business, and business is gooood. 👍

• Business: Ford’s Canadian plants push on, the UK slows its petrol ban, and Toyota plans to catch the EV train in motion. 🏭 🛑 🚂

Reading time: 5 mins 44 secs

MORE THAN CARS MOMENTS

Snack Attack!

Anybody reading this email knows how important the right set of wheels is for achieving goals.

Thanks to our friends at the West Herr Auto Group, the Independent Health Foundation in West New York is serving its community in a brand new 2023 Ford Transit Van.

The group will transport equipment and healthy snacks to programs that support kids, like Soccer for Success, Healthy Options, and Fitness for Kids Challenge.

West Herr president and CEO, Scott Bieler, says the group is proud to partner with groups like the Independent Health Foundation which are helping people live better lives in their community. A claim the health foundation backs up with 30 years of time and action.

/Positivity

Do you have a positive story from our community? Let’s share it!

• 💙 Dealers giving back

• 🎉 Community events

• 🗺 Inspiriting personal journeys in auto

We want to share them all!

DATA & INSIGHT

New Car Sales Are Strong

Our friend Brian Finkelmeyer, Senior Director, New Car Solutions with Cox Automotive, released a new commentary last week that is worth a complete look. But here are some notes in case you have cookies in the oven.

Resilient Market: Even with many households feeling the pinch, new car sales and profits persist.

At the start of the year, predictions fell short – we've seen sales volumes rise nearly 4% year-over-year, with average new car payments increasing by 13.5%.

🧐🤨🤔What's Driving Sales? 🤷‍♀️🤷🤷‍♂️

• 💰 Refinancing Boom: Many homeowners have extra cash due to refinancing. A refinance can mean an additional $700 a month for some!

• 👩‍🏭 Wage Growth: Households are bringing in more income. A family earning $100k annually now has about $854 more every month.

• ⚖️ New vs. Used: The price difference between new and 1-year-old cars has shrunk, making new cars a tempting choice.

• ⏳ Pent-Up Demand: Past years had limited vehicle availability, but inventory is up 68% from last September with supply chain issues resolving.

• 🤑 Affluent Buyers: Wealthy households are driving sales. Those earning over $250k now make up 15% of vehicle sales.

Of course, new challenges are on the horizon, like the UAW strike, which will affect supply.

In closing, Brian reminds us that once automakers and the Union come to terms, it will be another speed bump in the rearview mirror, like the 2008 crisis, COVID-19, and more. Dealers have emerged resilient and will do so again!  

TOGETHER WITH STREAM COMPANIES

Are You Keeping Up?

Welcome to Q4! Staying ahead of the curve is essential for keeping up with a digital landscape that is constantly evolving. That's where Stream Companies comes in!

Stream Companies offers thoroughly researched, creative, and data-driven plans to set auto dealers up for success. Their nimble approach will help you reach and exceed your goals through any challenge your business faces.

What to expect:
🗺 Strategic recommendations based on data that drive quality traffic and boost sales
👩‍🔬 Expert analysis of your data and outside data to make informed decisions
🏈 Professional problem solvers to help you tackle any obstacle
🏡 Tech-enabled ad solutions to target households that are actively in the market and on your website

Don't get left in the digital dust. Contact Stream Companies now and gain a partner in reaching your goals.

AROUND THE ASOTU-VERSE

See You In Four Days!

ASOTU CON isn’t like your typical auto conference. Nobody will go home and need an extra day to sleep off the exhaustion. Instead, each participant will go home with a full battery… in the figurative sense, but thanks to our friends at Dealer Image Pro, also quite literally.

Stop by and visit to top off your battery, grab a snack, and give your feet a break. You deserve it.

BUSINESS

UAW Strikes & Auto Industry Update

1. White House Engagement: Biden planned to send officials to Detroit for UAW discussions but shifted to virtual meetings. While Biden supports autoworkers, UAW President Shawn Fain sees limited White House involvement. Over 13,000 UAW members strike against all three major automakers.

2. CEO Pay Vs. Worker Pay: CEO pay in the auto industry rose 40% in four years, while worker pay lagged. UAW seeks a 40% worker pay raise over four years, reflecting a broader national CEO-to-worker pay disparity trend, surging from 40:1 to nearly 400:1 in the last few decades.

3. Ford & International Strikes: Ford averted a Canada strike with a last-minute deal. U.S. strikes persist with potential expansion centered on wage structures and benefits. Some workers decry the tiered wage system, leading them to multiple jobs.

UK's Net Zero Commitments Under Review

• Key Changes: Prime Minister Rishi Sunak may revise net zero policies.

• Gas Car Sales: Proposed delay of the new gas car sales ban from 2030 to 2035.

• Gas Boiler Installations: Phase-out by 2035 may only cover 80% instead of a complete phase-out.

• Additional Notes: No new measures are expected for carpooling or home energy efficiency regulations.

• Historical Context: Former PM Boris Johnson established the 2030 ban as part of his "green industrial revolution" initiative.

Toyota's EV and Battery Advancements

Toyota unveils its next-gen EV production line featuring modern technologies like Giga casting and self-propelled assembly lines, aiming to enhance its position in the growing electric market dominated by Tesla.

Simultaneously, Toyota discloses an ambitious battery roadmap, targeting the introduction of solid-state batteries by 2027-'28 with a rapid charge time of under 10 minutes and advancements in aerodynamics to further boost EV range.

CULTURE

BRAAAAINS!

Elon Musk is back with his latest scheme, and this time he’s looking to experiment with folks’ brains for science (and possibly world domination). 🧟‍♂️

Approved by the FDA in May, this six-year human trial is set to explore the possibilities of Neuralink's cutting-edge technology, particularly aimed at individuals with quadriplegia due to spinal cord injuries or ALS. They're on the lookout for participants over 22 with a "consistent and reliable caregiver." Because, let's be honest. If you're poking around in someone's brain, you'd better have backup. 🩺

Dubbed the “PRIME Study,” researchers’ focus will be on Neuralink's N1 implant, the R1 surgical robot responsible for implanting the device, and the N1 User App that translates brain signals into computer actions. 🤖

Neuralink has been at the center of controversy for the past few years both because of Musk’s tendency to overstate and underdeliver, and questionable internal practices. As with many things about Neuralink, it can be hard to separate the company’s promises from its plans, but we’re soon going to get our first look at what happens when billionaires start tinkering with brains. 🧠

On behalf of everyone with a brain, we’ll consider giving it a test right after you do, Elon.

Quick Hits

• Pro football leagues USFL and XFL are in advanced talks to merge. 🏈

• Parkland school shooting survivor, Kai Koerber, developed an app for emotional wellness called Joy. ❤️‍🩹

• Astronaut Frank Rubio is approaching a year in space, the longest time for any American. 👨‍🚀

• A revised version of the Protect Working Musicians Act would help indie musicians negotiate with streaming services and AI developers. 🎵

History

• 1913: The first aerobatic maneuver, sustained inverted flight, is performed in France. 🙃

• 1933: Salvador Lutteroth establishes Mexican professional wrestling. 🤼

• 1981: Sandra Day O'Connor is unanimously approved by the U.S. Senate as the first female Supreme Court justice. 👩‍⚖️