#622 - 🐼🗺👀 Expansion, Europe, and Exploration

TOGETHER WITH

Everybody has a personal definition of what “the worst day of my life” means.

For some folks, it is redefined with vibrant sincerity each Monday.

But look at us! Waking up Tuesday, another defeated Monday in our wake.

Keep on keeping on, and as always…

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

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BUSINESS

Across the Headlines

Finding a headline without China in the text, subtext, or context is challenging. 

"But we don't care what China is doing..."

Friend, China cares what you are doing, so let's stay vigilant. 

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Xiaomi's Disruptive Entry into China's EV Market

Despite initial doubts, Xiaomi ventures into the electric vehicle (EV) market, targeting 20 million premium users with its debut EV. Leveraging its extensive user base, Xiaomi prices its EV for premium markets, integrating it with existing products. Meanwhile, BYD introduces the Yangwang U9 electric supercar, boasting 1,300 horsepower and competing with luxury brands like Lamborghini. Additionally, BYD expands into Europe with the Denza brand, launching the D9 minivan featuring plug-in hybrid and EV options to challenge established luxury minivans.

• Xiaomi targets 20 million premium users with its first EV debut.

• BYD unveils the Yangwang U9 electric supercar, competing with luxury brands.

• BYD introduces the Denza brand to Europe with the D9 minivan, featuring plug-in hybrid and EV options.

Shifting Dynamics in Europe's Automotive Market

Renault and Chinese-owned MG introduce new electrified models at the Geneva car show, marking a shift as Chinese automakers target European markets. Renault's CEO emphasizes readiness to compete and calls for Airbus-like cooperation. GM expands its European presence with the Cadillac Lyriq, while Stellantis secures a multi-billion-euro deal with Ayvens, enhancing fleet electrification across Europe. Legacy automakers focus on developing affordable EVs amidst the influx of Chinese models, shaping a competitive market landscape.

• Renault and MG launch new electrified models at the Geneva car show.

• GM introduces the Cadillac Lyriq in France with online-only sales.

• Stellantis secures a multi-billion-euro deal with Ayvens for fleet electrification across Europe.

Concerns Over Chinese Expansion into Mexico's EV Market

Chinese EV manufacturers eye Mexico for new factory sites, raising concerns among U.S. officials and automakers. Mexico's appeal lies in low labor costs and a favorable free-trade agreement with the U.S. BYD's compact EV, the Seagull, priced at $11,400, poses a threat to the American EV market. Despite concerns, Mexico's EV adoption remains low due to high vehicle prices and infrastructure limitations. Lawmakers stress the need to counter China's "unfair practices" to protect the American automotive industry.

• Chinese EV manufacturers are considering Mexico for new factory sites.

• BYD's compact EV, the Seagull, threatens the American EV market.

• Concerns arise over Chinese dominance and potential job losses in the American automotive industry.

Volvo's Record-breaking Success in EV Sales

Volvo celebrates record-breaking profits in 2023, driven by a remarkable electric vehicle (EV) sales surge. CEO Jim Rowan attributes the success to Volvo's strong emphasis on electric mobility, with a 16% increase in EV sales. Volvo aims to expand its EV portfolio in 2024 with models like the EX30, EX90, and EM90, aligning with growing consumer demand for sustainable transportation solutions.

• Volvo achieves record-breaking profits in 2023 with a surge in EV sales.

• CEO attributes success to Volvo's emphasis on electric mobility.

• Volvo aims to expand its EV portfolio in 2024 with new models.

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Enjoy this boiled-down version of the headlines. Of course, sometimes you strike gold if you go digging for content in the footnotes, so we try to grab some of each. What do you think more people should know about happening now, coming up, or buried in the past? It could show up in an email or on a stage at ASOTU CON 2024!  

TOGETHER WITH UPSTART

Data-Driven Dynamics

Last week, Upstart took the lead in a dynamic discussion about the future of dealerships and the critical steps needed to bridge the digital divide.

Keishawn Batts, Upstart's Head of Customer Success, and Paul J. Daly dissected trends for 2024, digital transitions within dealerships, and pesky financing challenges (and how to battle them).

A must-listen for anyone looking for powerful insights based on proven data — watch the replay here.

PLUS, part two is in the works. Stay tuned for the deets!

MORE THAN CARS MOMENTS

Haute Wheels

The Mercedes-Benz Regina dealership is swapping cars for couture on one night only, all in support of the YWCA Centre for Women and Families. 

On March 9th, their showroom will transform in a massive catwalk flaunting New York Fashion Week vibes for this exclusive event that they’ve dubbed, “Champagne, Leather, and Lace.”

This event brings world class fashion to Regina through a unique runway event conceptualized by Nadia Williamson, owner of the bridal design company, NWL, and NWL Los Angeles. 

It will feature models wearing high-end gowns befitting the theme, as well as live music, and aims to provide a luxe fashion experience while raising funds for the YWCA’s new spot which will include transitional housing, shelter beds, and support services. 

With a limited 200-guest capacity, the evening promises to be an exclusive mix of fashion, philanthropy, and community support. 🥂

AROUND THE ASOTU-VERSE

Coming Soon

ASOTU CON 2024 is coming to Baltimore, MD, this May 14-17th, and we’re bringing automotive’s best and brightest along. Like CEO and Founder of Automotive Venture’s, Steve Greenfield!

Keep an eye out over the coming weeks for speaker, topic, keynote, and panel announcements so you know what to expect at the cornerstone of retail auto’s innovation and collaboration — ASOTU CON.

Quick Hits

• United Airlines joins American, JetBlue, and Alaska in raising checked bag fees. 🧳

• The Eggo House of Pancakes is the perfect getaway for your next breakfast-themed vaca. 🥞

• Designer Benjamin Fainlight unveils a new sofa inspired by the design characteristics of a Rolls-Royce. 🎩

History

• 1827: The first Mardi Gras celebration is held in New Orleans. 🎊

• 1907: Psychiatrists Carl Jung and Sigmund Freud meet for the first time in Vienna. 🛋️

• 1951: The 22nd Amendment is ratified limiting U.S. Presidents to two terms. 🇺🇸

• 2019: Polestar debuts its first all-electric vehicle, the Polestar 2. ⚡️

Thanks for reading, friend! Kristi and Chris enjoy pulling these emails together for you each day, and similar gusto goes into keeping our social media spots just as People>Cars oriented. Check it out with the links below!