#528 -☀️ Major Key Alert

TOGETHER WITH

Thanks for joining us yesterday for the premiere of More Than Cars Episode 2 at Beaver Toyota of Cumming!

Episodes 3 and 4 are just around the corner, so tell a friend and keep an eye on LinkedIn for the other wonderful things our team is cooking up! 👨‍🍳

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

TODAY’S LOT WALK

• DATA & INSIGHT: Utilizing creative problem-solving to stay ahead. 🔑

• BUSINESS: BMW joins the rest, Volvo catches the wind, and Nio talks to dealers. 🔌🍃💬

• CULTURE: A blast from the past sets a new record. 👻

Reading time: 5 mins 4 secs

DATA & INSIGHT

Fostering Fresh Thinking

A dealership’s days are often filled with numbers and calculations and formulas (we’re sorry), but it’s important to remember the importance of creativity and experimentation. 🎨🧑‍🔬💭

Embracing innovation, fostering an atmosphere of inclusivity, and embracing the valuable lessons from successes and failures, are keys to staying ahead of the competition. Check out these ideas from a recent article on CBT News.

🔑 Benefits of a Creative Perspective:

• Understanding new technologies, safety measures, and AI advancements is pivotal for staying ahead.

• Innovative approaches facilitated by customer-centric feedback and data analysis can enhance the overall shopping experience.

🔑 Cultivating a Culture of Creativity:

• Valuing employees' contributions fosters collaboration, boosts engagement, and leads to better decision-making.

• Inclusive discussions, diverse viewpoints, and open brainstorming sessions generate innovative solutions.

🔑 Finding Comfort in Discomfort:

• Creative problem-solving demands stepping out of the comfort zone and embracing uncomfortable challenges as opportunities for growth.

• Dealerships should welcome new ideas, especially from their employees, and be open to innovative strategies and perspectives.

• Fearlessly challenging the status quo, taking risks, and experimenting with new methods are key traits of successful problem solvers.

• Pilot programs can serve as safe spaces for testing before widespread implementation.

🔑 Asking the Right Questions:

• Dealerships need to understand why customers choose competitors and explore creative solutions to differentiate themselves in the market.

• Deep insight into underlying problems and a broader contextual understanding are crucial for effective problem-solving.

• Don’t know where to start? Turn to your team. They’re your greatest resource that often goes untapped when the right questions aren’t being asked.

🔑 Collaboration is Critical:

• Working with suppliers to develop new products and partnering with other dealerships or companies for shared resources enhance innovation and expand your reach.

• Engaging in meaningful dialogue with employees and vendors at all levels encourages diverse perspectives and imaginative strategies.

🔑 Overcoming Challenges:

• Remember, making mistakes and learning from failures are integral parts of the creative problem-solving process.

• Adapting strategies based on past experiences ensures informed decision-making and long-term success.

• “Each [person’s] path is going to be different. Play to everyone’s strength, and then put them in a position to succeed,” said Matthew Haiken, Retailer Principal at Prestige Collection Auto, during a breakout session at ASOTU CON 2023 titled Getting The Best Out of ALL Your People.

/Positivity

If we tried to tell all the wonderful, charitable, and creative stories happening in dealerships across our industry, we would need a bigger email. But we have just enough space in this email for YOUR story. Let us help show the community and world what you have going on in your store!

TOGETHER WITH NADA

Driving the Future with NADA

We are only a few months away from the industry’s largest event of the year, and the ASOTU crew is already in full prep mode for the show. We will be coming in hot with a full content team and can’t wait to share in the festivities with you!

Make sure book your tix and hotels now so you don’t miss out on all the fun (like being in the Sphere).

Also, feed free to check out all the exclusive NADA coverage sponsored by our collaborators and partners from 2023 and 2022!

BUSINESS

Automotive Headlines: BMW Adopts Tesla Chargers

BMW is embracing Tesla's North American Charging Standard for its future electric vehicles, including models under Mini and Rolls-Royce. Starting in 2025, BMW EVs will have built-in compatibility, while existing CCS-outlet vehicles gain Supercharger access, possibly via adapters.

In adopting this charging system, BMW joins multiple automakers, like Ford and Mercedes-Benz, spotlighting Tesla's influential EV infrastructure. 👍🔌🤝

A Funny Looking Folding E-Bike

Ready to bike up mountains without breaking a sweat? The ENGWE Engine Pro 750W e-bike, priced at $1,399.99, turns heads with its foldable design, 75-mile range, and sleek aesthetics.

Created by passionate riders for versatile terrains, this e-bike promises power and style and boosts health through joint-friendly exercise. 🚴‍♂️🔋💪

Volvo Captures The Wind

Volvo Cars' Torslanda factory in Sweden is about to get a green boost! Partnering with Eolus Vind, the carmaker's factory and its new battery plant will soon run on electricity from the massive 1 GW Västvind offshore wind farm. This move supports Volvo's ambition to sell only EVs by 2030. 🌬️🚙🔌

Stockholm Bans ICE

Starting in 2025, Stockholm will prohibit diesel and gas cars from about 20 blocks of its downtown to combat pollution and prioritize pedestrians and cyclists. Vice Mayor for Transport Lars Strömgren envisions a more breathable, festive city environment.

While other European cities have emission-reducing measures, Stockholm's ban stands distinctively bold. 🇸🇪🚫⛽️

Nio Chats Up European Dealers

Nio, China's EV giant, is pondering a European dealer network to ramp up sales, as its European performance isn't quite hitting the mark. Despite potential tariffs and competition, Nio remains committed to expansion, considering dealerships for its main brand and the upcoming "Firefly" brand due in 2025. 🚗🌍📈

AROUND THE ASOTU-VERSE

Coming Soon

• TOMORROW, October 20th, 9:00 am EST / 6:00 am PST
  David Long’s All Things Used Cars
  Curating the Perfect Inventory (and Why It’s Like Grunge Music) on Clubhouse.

• Wednesday, October 25th @ 2:00 pm EST / 1:00 pm CST:
  ASOTU EDGE 30-Minute Webinar in Partnership with Foureyes
  The Struggle is REAL, y’all. Find out how data is destroying the customer experience. 🤯

CULTURE

Something to Watch in October

Disney's "Goosebumps" reboot grabbed 4.2 million views in its first three days on Hulu and Disney+. The show is now Disney Branded Television's most-watched season opener of the year.

“Disney Branded” doesn’t include Marvel... "Loki" Season 2 achieved 10.9 million views in its opening three days.

In case you forgot, Goosebumps is Based on R.L. Stine's episodic spooky books for kids. The show's plot follows five high schoolers as they tackle supernatural threats.

So think X-Files, Buffy, Supernatural... but for kids!

Quick Hits

• China’s Q3 economic growth exceeds forecasts as consumer spending and production jump. 📈

• Foxconn and Nvidia are working on AI factories to accelerate Self-driving tech development. 🏭

• Ridley Scott says Fede Álvarez's upcoming Alien movie is great. And he should know since he made the original.

History

• 1947: The Federal Works administrator has said the minimum wage of 40 cents per hour is obsolete and should be changed to 75 cents per hour. 💰

• 1965: MGB GT goes on sale. 🏎

• 1982: John DeLorean is arrested in an airport motel with a briefcase containing $24M dollars worth of cocaine. He headed up the DeLorean Motor Company and built one of the coolest-looking sports cars with gull-wing doors. 🕰