#566 - 🕹️🏎️⚙️ Bringing Back Manual

PRESENTING

Hybrids are gaining ground, Geely is venturing into extra-large vans, and as always, Toyota is cooking up something new.

As these companies are proving, persistence and evolution are the only ways to stay on top. Success is never owned, it’s only rented. And the rent is due every day.

What are you doing today to earn your keep?

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

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BUSINESS

Noteworthy Headlines

Toyota's Innovative EV Transmission

• Developing Technology: Toyota is working on a simulated manual transmission for electric vehicles with up to 14 gears.

• Customizable Experience: Drivers can choose their preferred number of virtual gears, enhancing engagement.

• Operational Mechanics: The system involves fixed physical shift gates, where the virtual pattern adjusts to new "ratios" after gear selection.

BMW's Manual Transmission Resurgence

• 2024 BMW Z4 M40i: This roadster will feature a six-speed manual transmission, catering to the growing U.S. demand for manual cars.

• Enhanced Features: Upgrades include unique paint colors, an aggressive rear axle, retuned suspension, and a turbocharged engine.

• Improved Driving Dynamics: The manual Z4 offers a richer driving experience than its automatic counterpart.

Introducing the LEVC L380

• Spacious Electric Van: Inspired by the Airbus A380, Geely's LEVC unveils the L380, which has an 8-passenger capacity and is over 17 feet long.

• Performance Specs: 170 kph (106 mph) capacity with a 200 kW output.

• Broad Market Appeal: Targeted at the British market, with potential expansion to China.

• Production Insights: Set for production in China, maintaining a light curb weight despite its large size.

Hybrid Vehicle Resurgence

• Growing Popularity: Hybrids are gaining traction amid slow EV sales.

• Consumer and Regulatory Appeal: Automakers see hybrids as a solution to meet consumer demands and regulatory standards.

• Sales Increase: Hybrids represented 8.3% of U.S. car sales in the past year.

• Cost Efficiency: Average hybrid costs around $42,381, offering a budget-friendly alternative to EVs.

• Diverse Automaker Strategies: Leading companies adopt varied approaches, with Ford boosting hybrid production and GM focusing on EVs.

GM's Strategic Shift

• Focusing on Bolt EUV: GM will not transition the Chevy Bolt EV to the Ultium platform, concentrating on the larger Bolt EUV instead.

• Ultium Expansion: Cadillac Lyriq, Hummer EV, and others will join Chevy's new EVs, like the Silverado EV and Blazer EV on this platform.

• Bolt EV's End: Launched in 2016, the Bolt EV's journey concludes due to competitive challenges and safety recalls. 

PRESENTING ASOTU’S YEAR-END EXTRAVAGANZA

ASOTU's 3rd Annual Year-End Extravaganza!

Join us on Thursday, December 21, 2023, at 1 PM for an engaging afternoon with the automotive community. Hosted by Paul, Kyle, and Michael, this event promises insightful reflections on 2023 and thoughtful forecasts for 2024.

Enjoy:

• In-depth discussions on automotive and global trends.

• Networking with industry peers and new faces in the ASOTU community.

• A blend of practical insights and the unique ASOTU energy.

Ideal for dealership professionals, vendor partners, and car enthusiasts. Connect, learn, and share in a setting that combines industry expertise with a welcoming atmosphere. Let's celebrate the past year and welcome the future together!

MORE THAN CARS MOMENTS

Dealers Unite for Christmas Parade

Local dealerships in Vero Beach, FL set aside their fierce competitive spirits to jointly promote electric vehicles at this year’s Vero Beach Christmas Parade.

Joining forces with the Treasure Coast EV Club, five dealerships — Mullinax Ford of Vero Beach, Vero Beach Mitsubishi, Route 60 Hyundai, Coggin BMW of the Treasure Coast, and Mercedes-Benz of Fort Pierce — entered the parade as a collective, showcasing some of the latest EV and hybrid models like the Ford Lightning, Mitsubishi Outlander PHEV, IONIQ 5, BMW i7, and Mercedes-Benz EQE 350.

While the EV Club’s entry didn't snag any awards in the parade's traditional categories, raising awareness and promoting more eco-friendly vehicles to the community is the real win for these dealerships. They proved that setting aside rivalries can lead to something far more impactful than just another sale. It’s a playbook move we could all learn from, in business and beyond.

Thanks to Jodi Connolly for sharing this story with us! 🤩

TIE CUTTERS

2024 TIME Dealer of the Year Nominee:
Russ Humberston

Representing the Oregon Auto Dealers Association, Russ Humberston is one of thousands of dealers nominated for the 2024 TIME Dealer of the Year Award.

A second-generation dealer, he's transformed his family's dealership into an eco-friendly and customer-centric space. He also inherited his family’s spirit of community giving, championing a number of various causes such as St. Mary’s Home for Boys in Beaverton, the American Red Cross, and the KGW Great Toy Drive.

Congrats on the legacy of service and well-deserved nomination, Russ! 👏

AROUND THE ASOTU-VERSE

Coming Soon

• TOMORROW, DECEMBER 13 @ 2:00 PM EST
  ASOTU Edge Webinar with Upstart
  Transforming Car Buying: The Power of Connected Auto Retailing
  Learn how to blend online prowess with in-store digital finesse, alongside top-tier financing and management tools in 30 minutes.
  🧑‍💻 Register now 🧑‍💻
   

• Thursday, DECEMBER 22 @ 1:00 PM EST
  The 3rd Annual ASOTU Year End Extravaganza
  We’re capping off this wild year with our annual Year End Extravaganza! Join us in re-living 2023’s greatest hits, and planning for big moves in 2024.
  🥳 Experience the Extravaganza 🥳
   

• JANUARY + FEBRUARY
  More Than Cars Episodes 3 + 4
  Tired of waiting for new episodes of retail auto’s only docu-series, More Than Cars? Us too. So, we’re dropping new episodes in January and February. Let’s start the new year right!
   👀 Watch episodes 1 and 2 👀

   

• FEBRUARY 1 - 4, 2024
  NADA 2024 in Las Vegas
  Are you going to NADA and itching for some eye-catching media coverage? We're your dream team for content creation.

  🎥 Let’s link up 🎥 
   

• MAY 14 - 17, 2024

  ASOTU CON 2024 in Baltimore

  Next year, we're elevating the focus on context, connection, and dynamic conversations. Unlike traditional conferences, we’re going beyond a passive listening experience, turning every attendee, speaker, and exhibitor into a crucial part of the larger dialogue.
  🤝 Partner with us 🤝

DATA & INSIGHT

Q4 Market Pulse

🎭 Cox Automotive’s Dealer Sentiment Index:

• Low Low: New data shows overall the dealer sentiment in the U.S. auto market has significantly decreased in Q4 compared to Q3, reaching its lowest level since Q2 2020.

• Biz Barriers: Both franchised and independent dealers are citing interest rates, the economy, and market conditions as the top three factors currently holding back their business.

💸 Pricing and Payments:

Monthly Payments: Average new-vehicle finance contract monthly payment rose to $727, an $11 increase YOY.

Average Transaction Price: Slight increase to $48,247 in November (up less than 1% from October, but down 1.5% YOY).

📊 Sales Trends:

On the Rise: Sales for the first 11 months of 2023 showed a 12.2% jump compared to the same period last year.

BEVs (Battery Electric Vehicles): Sales of BEVs surpassed 1M units for the year, marking a 50.7% increase over the previous year.

CUVs (Crossover Utility Vehicles): Accounted for 51.2% of all new vehicle sales in November 2023.

Quick Hits

• Transparent wood may be the future of screens, insulation, and invisible trees (okay, we made the last one up). 🌴

• Macy's investors mount a $5.8B buyout bid. 🤑

• A gigantic reptile skull has been unearth in the waters off the coast of England. 🐊

History

• 1787: Pennsylvania becomes the second state to ratify the US Constitution. ✍️

• 1901: Marconi sends first wireless transmission over 2000 miles across the Atlantic Ocean. 📻 

• 2000: GM announces the end of Oldsmobile. ✌️