#511 - 😎 Brighter Everyday

TOGETHER WITH

ASOTU CON 2023’s reception was an abundant feast of giving and receiving. The music was right, the conversation flowed, and the vibes were top-shelf.

Tomorrow, we will start on two days of learning together in person, but every person reading this is welcome to join in and participate from home (and work😉) in the big push toward retail auto’s ever-brightening future.

Keep an eye on the feed for some good stuff from the event.

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

TODAY’S LOT WALK

• Data & Insight: Economic data you can plan by 💽

• Business: Ford and UAW make progress, Nissan talks EVs, Indonesia starts digging. 👍 🌍 ⛏

• Culture: Reddit turns gold into change.🪙 🏆

Reading time:

DATA & INSIGHT

Economic Update

Our good friend, John Ellis, released his economic update, and we grabbed a few key thoughts to share. Enjoy!

🚗 UAW Strikes & GM:

• GM's 2,000 workers layoff due to strikes.

• UAW is ready for a showdown.

• Biden's team is in Michigan to help.

🆕 New Cars:

• Strikes likely push up new car activity.

• Prices dip = more affordability!

• Stock? 60 days, down from 2019's 80.

🔄 Used Cars:

• Sales are rising.

• Inventory: Down to 40 days.

• Stable prices, but watch for shifts.

• Less 5-year-new inventory soon.

📊 Wholesale:

• Extended strikes can speed up trends.

• MMR vs. Black Book: Both offer insights.

💹 Buy/Sell:

• MMR index dances with the retail index.

• Sales price nears wholesale.

• A few quarters back, buying cost > selling.

🔍 Wisdom:

• It's a tricky market!

• Right data = success.

• Big margins mean tough competition.

No matter the market, everyday is a good day to keep your mind on the data and your eyes on your goals. Thanks John for sharing such good info!

TOGETHER WITH STREAM COMPANIES

Digital Partner, Tangible Solutions

As we head into Q4, it might be time to evaluate your digital advertising partner. Our friends at Stream Companies are here for you if you're in search of a partner that:

•  Brings innovative ideas rather than asking, "What do you want to do next month?"

•  Boasts impressive digital advertising results and experience

•   Prioritizes transparency, giving you clear and comprehensive results

•  Operates as a data-driven organization, crafting and modifying your campaigns based on research and concrete data

•  Utilizes industry-leading ad tech to connect with your actual shoppers and cultivate your unique first-party data

Stream Companies is a full-service, fully integrated, tech-enabled ad agency. With them on your side, you can expect utmost transparency, clear communication, outstanding results, and cutting-edge ad tech that engages shoppers in ways you've never experienced before.

BUSINESS

Strike Update, Digging Up EVs, Check-In Charge-Up, Nissan’s European Plan

Ford & UAW's Tug of War 📜💼 

Despite some progress, Ford and the United Auto Workers (UAW) union still have "significant gaps" in their labor contract discussions. While UAW has extended strikes against General Motors and Stellantis, it's yet unclear about their negotiations over the weekend. The UAW demands include higher raises and shorter work weeks.

Indonesia's EV Drive 🚗🔌 

Indonesia's EV-friendly policies attract global investors, capitalizing on its rich reserves of copper, nickel, cobalt, and bauxite, essential for EV batteries. As the world's top nickel exporter, Indonesia has drawn interest from giants like Tesla. Despite challenges, its resources may accelerate ASEAN's EV adoption and encourage regional collaboration in the EV ecosystem.

Marriott Goes Electric ⚡🏨 

Following Hilton's move with Tesla, Marriott International is partnering with EV Connect to introduce EV charging stations at its hotels. With over 14 million EVs expected on roads by 2023, this initiative aims to attract more customers. EV Connect will manage the charging infrastructure, while Marriott will select the hardware. Guests can locate these stations via Chargeway, the EV Connect app, or Marriott's Bonvoy app.

Nissan's Electric Dream 🚘✨ 

Nissan reveals its sleek new EV concept, 'Concept 20-23', signaling its European all-electric ambitions by 2030. Designed in London, this hatchback hints at Europe's EV future. With a third of global EV sales in Europe, Nissan plans 19 new EVs worldwide. They're also focusing on slashing battery costs and introducing solid-state batteries.

CULTURE

Reddit Cash

Reddit has introduced its new "Contributor Program," so Redditors can turn their user-gifted Gold Awards into real loot.

Replacing the old Reddit Gold system, users can now purchase gold by long-pressing or hovering over the upvote button, with six options ranging from $1.99 for one gold to $49 for 25.

Reddit Coins have been discontinued. Golden upvotes can contribute to actual money earnings; users can get 90 cents to $1 per gold based on their contributor tier.

Earning requires meeting specific karma (Reddit points) thresholds over 12 months. To participate, users must be 18+ and from a supported location.

Some users disapprove, fearing potential culture shifts and system abuse. The rollout starts on Monday.

TL: DR - Reddit will let users pay $2 to reward other users $0.90 for their interesting, talented, insightful, or hilarious posts/comments. Seems like Venmo was already doing that, but ok.  

Quick Hits

• Costco now offers online checkups. (members only, of course) 👨‍⚕️

• Apparently, they gave ChatGPT the ability to see, hear, and speak. 👀 👂🗣

• The writer’s strike may be ending, which turns attention on the actor’s strike. ✍️

History

• 1957: The Vespa 400 is launched 🥳 

• 1973: Concorde makes its first non-stop crossing of the Atlantic in three hours 32 minutes ✈️

• 1982: Knight Rider debuts 🤖