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After seeing and hanging out with all of our people NADA, we’re probably not going to be able to stop floating on a cloud for a while.

But, we’ve got to be honest. While we loved every single moment we got to spend with you, there’s just nothing like coming home after a few days away and sleeping in your own bed.

Keep Pushing Back
-Paul, Kyle, & Chris

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BUSINESS

Cutting to the Chase

Hyundai x Amazon

Hyundai dealers selling cars on Amazon's massive shopping platform are reporting some impressive early results from their pilot program.

• Tech Meets Auto — The pilot ropes in eighteen Hyundai dealers from big cities like LA, NYC, and Atlanta to offer a “smoother, faster, and transparent buying process” to Amazon's in-market employees. The goal of the pilot is to ultimately turn it into a broader program for consumers nationwide.

• First Impressions — Just a month in, Hyundai has already delivered its first car to an employee in Seattle who was, “extremely pleased with the way the process went.” Though we’re gonna have to treat that with a healthy dose of skepticism since, ya know, they work for Amazon.

• Strategic Oversight — Hyundai Motor North America CEO Jose Muñoz said he’s working with NADA and a subcommittee of the Hyundai dealer advisory board to identify potential obstacles and ensure future agreements are thoughtful and fair.

Waymo x California

As Waymo seeks to expand its robo-taxi service across California, it’s facing both labor and legislative headwinds that could throw some major kinks into its plans. Here's a snapshot of the obstacles ahead:

• Navigating New Rules — Proposed legislation by State Sen. Dave Cortese demands city-by-city approval for autonomous vehicle operations, potentially derailing Waymo's seamless statewide expansion plans.

• City Control Tightens — Incidents in San Francisco fuel a demand for direct city regulation of robotaxis, pushing Waymo to tailor its service to varying local safety standards.

• Labor's Response — Unions like the Teamsters have called for human-inclusive regulations, stressing the importance of balancing these types of technological advancements with job preservation, and likely adding more red tape to Waymo’s operations.

Stellantis x Renault

Stellantis has officially put the kibosh on merger rumors with Renault.

• Gossip Control — In response to swirling rumors, Stellantis Chairman John Elkann finally denied any merger plans with Renault.

• M&A Radar — Since Renault exited its second-biggest market in Russia and scaled back its global collaboration with Nissan, it's begun to look more and more like a prime target for a merge.

• The Scoreboard — Renault's shares have taken a nosedive, losing 40% of their value over five years. Meanwhile, Stellantis shares have rocketed by 75% in the same period.

Krause x Sutherlin

Krause Auto Group in Alpharetta, Georgia is making waves in the Sunshine State after scooping up three Florida dealerships from Sutherlin Automotive for a hefty sum north of $110M.

• Acquisition and Expenses — The acquisition includes Sutherlin Nissan of Cape Coral, Sutherlin Nissan of Fort Myers, and Sutherlin Genesis in Fort Myers. The Fort Myers Nissan dealership is believed to have commanded the highest price ever paid for a Nissan dealership.

• Home Sweet Home — Vernon Krause, the CEO and a Fort Myers native, adds a sentimental layer to the acquisition. He has big plans to revamp the Nissan dealership and relocate the Genesis store.

• That's All, Folks — In a LinkedIn post, Sutherlin Automotive CEO Brett Sutherlin said the group had finished selling dealerships and was "looking forward to growing in 2024 and beyond."

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DATA & INSIGHT

FTC's Final Vehicle Shopping Rule

It seems like every other day we hear about new regulations and legislation affecting the auto industry. That’s why NADA legal eagles, Bradley Miller and Dan Ingber, broke down recent government shifts set to directly impact dealer operations most — the FTC’s CARS ruling.

⏸️ Pause for Effect — The anticipated regulatory curtain raiser, originally scheduled for July 30, 2024, is now in limbo after facing fierce opposition. Dealers, keep your pencils sharpened for revisions.

💸 A Pricey Misstep — Violations could now come with a hefty price tag of $51,744. The cost of oversight has never been higher—or more precise.

⚖️ Federal Overrule — Be aware that if/when the ruling passes, the federal law will take precedence over state law. Dealers, consider this your regulatory compass.

We trust the work NADA is doing will ease the burden on consumers and dealers while also working to push out operators who burden the whole retail auto industry by perpetuating negative stereotypes — a true win for everyone.

Read more about the presentation here.

AROUND THE ASOTU-VERSE

Coming Soon

Will Guidara, best-selling author of Unreasonable Hospitality, will be the keynote speaker for ASOTU CON 2024 in Baltimore this May 14-17th!

Will is a renowned figure in the customer service business, recognized for transforming Eleven Madison Park into the world's top restaurant.

His book Unreasonable Hospitality is an approach rooted in human connection and emphasizes creating extraordinary experiences by giving people more than they expect.

Many of you have already read his book or encountered the ideas, but there is nothing like hearing it straight from the author.

🎟️ Get your early bird tickets today! 🎟️

Quick Hits

• Fraudsters recently used a deep-fake video call to scam a company out of $25.6M. 🥸

• Taylor Swift made history on Sunday by becoming the first person to win the Grammy’s Album of the Year four times. 🏆

• Mis-drilled holes found during the production of Boeing’s 737 jets will force them to rework about 50 planes. ✈️

• A viral video of a Cybertruck driver wearing a VR headset while driving stokes new distracted driving concerns. 🥽

History

• 1894: The bottle opener is patented by William Painter. 🍾

• 1932: The first Olympic dog sled race held at Lake Placid, New York. 🐕

• 1935: The board game "Monopoly" is first sold in stores. 🎲

• 1971: American astronaut Alan Shepard is the first to hit a golf ball on the moon. 🏌️