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- #543 - 📈🌎📉 Retail Auto Abroad
#543 - 📈🌎📉 Retail Auto Abroad
China's October, Healthy and Happy, and Cybercamping
TOGETHER WITH
Today is “Chaos Never Dies Day,” that wonderful time of year when we all can take the time to step back, reflect, and existentially panic at the perpetual turmoil that we collectively live through day in and day out.
Though the chaos may be never-ending, the silver lining is there is always a bright and shiny new day to experience it.
Keep Pushing Back
-Paul, Kyle, Chris & Kristi
TODAY’S LOT WALK
Business: China, Rivian, GM, Lucid, and Hyundai. 📈
MTCM: The doctor is in… a dealership. 👩⚕️
Culture: Roughin’ it. Just not too rough, please. ⛺️
Reading time: 4 min and 48 secs
Pick One And You’re Done
Tell us about YOU!We want to know what you do, so we know how to better deliver what you need! |
No need to reply if you already have. We are keeping count 😃
BUSINESS
Down To Business
Giphy/BBC
China's Automotive Market on the Rise
Sales increased by over 20% in November; October sales up by 9.9% from last year.
New Energy Vehicles (NEVs) lead with 37.4% of October sales.
BYD pushes for a 3 million sales goal; Tesla experiences modest EV delivery growth.
Auto industry challenges: Nio cuts 10% of its workforce; truck industry adopts driver-assist tech.
Rivian's Business Strategy Shift
The updated Amazon deal allows Rivian to sell electric vans to other companies.
Annual production forecast raised to 54,000 vehicles, showcasing company resilience.
Focus on in-house powertrain production to cut costs.
Financials: Quarterly net loss of $1.36 billion but cash reserves of $9.13 billion.
GM's Investment in Sustainable EV Technologies
Partners with Niron Magnetics for EV motor magnets that reduce rare earth mineral dependence.
The investment aligns with EV tax credit sourcing requirements.
Cruise subsidiary recalls 950 autonomous vehicles for crucial safety software updates.
Lucid Motors' Financial Update
Q3 results: Significant financial losses, with $430,000 lost per car sold.
Production forecast reduced to 8,000–8,500 units for the year.
The company focuses on the Gravity SUV launch in late 2024, with a reveal at the LA Auto Show.
Hyundai's eVTOL Ambitions in the US
Supernal to build a manufacturing plant for air taxis in the US.
Prototype to debut at the Consumer Electronics Show in Las Vegas.
eVTOL with 120 mph speed and five-seat capacity, targeting a December 2024 test flight.
Hyundai invests $916 million in Supernal; collaboration with Korean Air for air mobility infrastructure.
Supernal
TOGETHER WITH GIRLS AUTO CLINIC
Women Empowering Women
ASOTU CON Sessions
We caught up with Patrice Banks, the trailblazing engineer-turned-mechanic behind the innovative Girls Auto Clinic, at this year’s ASOTU CON.
Patrice shared her inspiring journey from feeling helpless at auto shops to empowering other women with all the education and confidence they need to handle any car purchase or repair. 🛠️
With a team of skilled female mechanics, Girls Auto Clinic offers not just auto services but also knowledge and support, shattering stereotypes and fueling a community of savvy #shecanics. Whether you're purchasing your first car or seeking trustworthy maintenance, this is where equality meets the road. 👩🔧
Unleash your inner #shecanic by joining one of their monthly Car Care Workshops — find out more here! 🧰
TIE CUTTERS
2024 TIME Dealer of the Year Nominee: Thad Szott
Michigan auto dealer Thad Szott, representing the Detroit Auto Dealers Association, is a TIME Dealer of the Year nominee at the NADA Show in Las Vegas.
The award celebrates dealers excelling in business and community service. Szott's dealership grew from 27 to 300 employees, emphasizing job creation and community support. Entering the business at 15 and now overseeing five locations, he maintains a family legacy with his children involved.
His philanthropy extends to Ronald McDonald House, local schools, and the Joe Kocur Foundation for Children.
We're looking forward to seeing you at NADA, Thad. Congratulations on the well-deserved nomination! 👏
MORE THAN CARS MOMENTS
More Than A Workplace
Giphy/NBC
The folks at DeMontrond Auto Group are elevating their workplace by addressing one of our nation's hardest-to-nail-down challenges - Healthcare.
The group created space for a third party to open a clinic on its campus for associates and their families. And already, results have been promising.
Because of the partnership, much of the care offered by the clinic is entirely covered by the employee health care plan so that team members can get care with no out-of-pocket cost or associated stress.
Affordable care, less stress, better health? What’s the downside?
The Group's President, Melissa DeMontrond, says they have already gained two associates in their service department who say the clinic was the deciding factor in accepting the position.
Shoutout to our friend, Ashley Cavazos, for highlighting this innovative step toward elevating dealerships from places of work to places for life.
What dream collaboration do you think could elevate the whole dealer community?
AROUND THE ASOTU-VERSE
Coming Soon
NOVEMBER 16 @ 2:00 pm EST
ASOTU EDGE 30-Minute Webinar in partnership with Invoca
“Revolutionizing Phone Call Management: Adapting to the Digital Era.”
Discover how the automotive industry is revolutionizing phone call management, personalizing marketing through call data, and enhancing customer experiences with cutting-edge tools like Invoca's AI technology. Dive in, decode, and drive success in today's digital age!
☎️ Register now ☎️
FEBRUARY 1-4, 2024
NADA 2024 in Las Vegas
Lights, camera, actions! Paul and Kyle will be at NADA creating content for exhibitors. Hit us up to let us know what we should see, who we should talk to, and what we should cover while we’re there.
MAY 14-17, 2024
ASOTU CON 2024 in Baltimore
The design team is putting the finishing touches on elements and assets for the event. All participants and collaborators can expect to see the release THIS WEEK!
👋 Word on the street is Paul and Kyle will be at Used Car Week (this week) and MRC (next week) — come say ‘hi’! 👋
More Than Cars
Have you ever tried to get your car parked just right?
Paul and Kyle went head to head in a Line-Up Challenge at Beaver Toyota in Episode 2 of More Than Cars.
Check it out on YouTube now!
CULTURE
Cybercamp
Giphy/Insider
Despite some questionable off-road tests, a startup called Space Campers is selling $24K camper attachments for Tesla Cybertrucks.
It looks just as at-home-in-a-comic-book as the Cybertruck and offers some promising features. With a single button press, the Cybertruck morphs into a snug nest, complete with a convertible memory foam bed, doubling as a lounge, an extended platform for star gazing, a projector, and optional layouts including one with a lovely 8-foot ceiling, in case you are very tall and need to change clothes.
So, while the Cybertruck's off-road abilities have not been fully tested, it is nice to know if you DO get stuck in the forest or grass next to the Trader Joe's parking lot, you'll be comfortable while you wait for rescue.
Quick Hits
History
1967: The first issue of Rolling Stone Magazine is published. 🥁
1989: East Germany opens its borders, allowing its citizens to freely cross into the West for the first time since the Berlin Wall was built in 1961. ☮️
2004: Firefox 1.0 is released. 🦊
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