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- #600 -🙂📔🎉 Hospitality in Baltimore
#600 -🙂📔🎉 Hospitality in Baltimore
Toyota's Record Year, IPO IDK, More Than Coats
TOGETHER WITH
Today, we have news from Toyota, Renault, VW, and GM.
But we’re preparing for NADA, ASOTU CON, and wondering: who has already read Will Guidara’s book, “Unreasonable Hospitality?”
We knew we wanted to have Will speak at ASOTU CON 2024 this May in Baltimore because the time we spend together moves the industry, and the things we discuss decide which direction the movement goes.
Keep Pushing Back
-Paul, Kyle, Chris & Kristi
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AROUND THE ASOTU-VERSE
Coming Soon
🔥 JUST ANNOUNCED: Will Guidara, best-selling author of Unreasonable Hospitality, will be the keynote speaker for ASOTU CON 2024 in Baltimore, MD, this May 14-17th!
Will Guidara is a renowned figure in the hospitality industry, recognized for transforming Eleven Madison Park into the world's top restaurant 😉
His "Unreasonable Hospitality" is an approach rooted in human connection and emphasizes creating extraordinary experiences by giving people more than they expect. (Something we get behind!)
Many of you have already read his book or encountered the ideas, but there is nothing like hearing it, as only the author can express.
Join us at the NADA Live Stage for the ASOTU Docu-series "More Than Cars" Preview and Community Meet-up!
Wear your “Love People More Than Cars” T-shirt, grab a free More Than Cars metal badge, and hear what Paul, Kyle, and Andrew Guelcher from Mohawk Chevrolet have for the community!
🤗 Meet other community members face-to-face.
NADA 2024
Yo, Looking For A Party?
BUSINESS
Announcements
Giphy/Disney
Toyota’s Sales and Scandals
Toyota sold a record 11.2M vehicles in 2023, a 7.2% year-over-year increase and enough to maintain the title of top-selling automaker on earth. (and quite possibly the top-selling automaker in the universe 👽)
Akio Toyoda, the brand's chairman, apologized for the scandals of last year involving Daihatsu, Hino Motors, and Toyota Industries, acknowledging they could impact the brand's reputation. One such scandal caused a 25% decrease in Daihatsu's global production and an 8% drop in December sales. Toyota also suspended shipments of specific models due to testing irregularities.
Recall notice: Toyota issues a "do not drive" recall on 50K models in the US due to potentially dangerous Takata airbag issues. The company offers free repairs or replacements for affected customers with options like mobile repair or vehicle pickup.
Recalled Models:
Avalon or Avalon Hybrid (2020 - 2021)
Camry or Camry Hybrid (2020 - 2022)
Corolla (2020 - 2021)
RAV4 or RAV4 Hybrid (2020 - 2021)
Lexus ES250 (2021)
Lexus ES300H (2020 - 2022)
Lexus ES350 (2020 - 2021)
Lexus RX350 (2020 - 2021)
Highlander or Highlander hybrid (2020 - 2021)
Sienna Hybrid (2021)
📈 At the time of writing, Toyota Motor Corp | US is up 0.21% in the market.
Renault Pulls Back
Ya gotta know when to hold them AND fold them, friends. Renault has canceled its "Tesla rivaling" Ampere IPO following unfavorable market conditions. IE: The marked un-favored their EVs.
Renault's stock actually rose 5% after the news as the move should focus the company on more profitable parts of the business.
📈 At the time of writing, Renault SA | FR is up 1.30% in the market. Ampere... is still not part of the market. #Roasted
Volkswagen’s PowerCo
Next door, VW is keeping its options open. While the European EV market's cooldown has France's Renault backing off an IPO, VW's PowerCo battery Unit may still come to the market.
The auto group has plans for giga-factories in Germany, Spain, and Canada by 2025; if these plans come to fruition, it would be silly to NOT go to market... right.... right?
📉 At the time of writing, Volkswagen AG | US is down 0.86% in the market.
General Motors, Hybrid Voters
When we have a hard year, we usually lose something along the way. Not GM; they had a pretty rough year and are still expecting close to $10B in earnings for 2023 (they're still counting the coins and will get back to us soon).
Despite recalls, strikes, and EV production issues, EVs were 2.9% of the company's total sales volume for 2023. An encouraging note on their declared path of scaling up to 1M EV sales by 2025.
However, there is existing demand for ICE trucks and SUVs that GM says will carry it to $12-14B in 2024.
Finding that middle ground. Automakers, dealers, customers, and regulators don't always agree, but they do often compromise. Hybrids seem to be GM's next big play. Plug-in Hybrid Vehicles (PHEVs) can meet fuel economy regulations AND customers' desire for a middle ground. A tidbit that dealers have been reporting from the front lines.
📈 At the time of writing, General Motors Co | US is up 6.88% in the market.
TOGETHER WITH NADA
Meet Us In Vegas
This week, the National Automotive Dealer Association returns to Las Vegas for the 55th annual NADA Show.
In addition to four days of nonstop education and exposition, you can also connect with the ASOTU Crew — we would love to see you there!
So, grab your tickets now!
Then, come find us! We’ll be the ones in the “Love People” gear. 😎
MORE THAN CARS MOMENTS
Baxter’s Warm Work
Baxter Auto
Baxter Auto knows the auto industry is about more than cars, but their recent community support work was also about #MoreThanACoat.
Along with more Subaru of America retailers, the Baxter group partnered with Operation Warm to keep folks safe during the coldest part of winter.
Kids in need of socks, coats, and shoes will have their pick of brand-new, hand-picked, and joyfully donated items from the Baxter Subaru Omaha, Baxter Subaru La Vista, and Subaru of Olathe dealership teams.
Feeling safe, warm, and cared for goes a long way toward informing a young person's self-worth. Shout out to the Baxter folks for setting kids on the right (socked and shoed) foot.
Click here to show your appreciation for Baxter’s LinkedIn post.
Quick Hits
Following failed experiments with pigs and monkeys, Elon Musk’s brain-chip company, Neuralink, has successfully put a chip in a human skull. 🧠
FEMA is paying states to install solar panels and heat pumps. ☀️
People giving up booze for January has boosted legal cannabis sales. They said “dry,” not “sober.” 📈
History
1942: The last pre-war Chryslers, Plymouths, and Studebakers are produced as civilian production shifts into WW2 mode. 🪖
1961: A chimpanzee named Ham, sent into space by the United States, is recovered alive and well. 🐒
1988: Doug Williams becomes the first African American quarterback to play in a Super Bowl (XXII) and leads the Washington Redskins to victory. 🏆
Thanks for starting your day with us, friend. We’ll have more informative, encouraging, and community-strengthening content on socials all day. See you there!
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