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- #629 -👮🚁🗄 Balance, Bird-Cars, and Business
#629 -👮🚁🗄 Balance, Bird-Cars, and Business
Regulatory Balances, Flying Vehicles, and Some Business Updates
TOGETHER WITH
Read any of Will Guidara’s “Unreasonable Hospitality” yet?
We have articles coming to deliver some of the good stuff from the book ahead of ASOTU CON in May. But if you are more of an audiophile it is also available on Spotify premium to listen.
All 8 hours and 37 minutes. That’s just 7.5 minutes every day from now until ASOTU CON starts on May 14th.
Keep Pushing Back
-Paul, Kyle, Chris & Kristi
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Reading time: 4 mins 9 secs
BUSINESS
Wednesday News
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Regulations, private air travel, and profit/loss breakdowns.
Today's news is robust and may be better taken as a buffet than an 8-course meal.
But don’t let us tell you how to party.
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US vs. Chinese EVs: A Balancing Act
The White House is actively addressing the surge of Chinese EVs, aiming to balance climate initiatives with domestic industrial policy.
Central to this effort is the ambition to have EVs represent 50% of US car sales by 2030, intertwined with economic and security considerations regarding foreign tech, particularly from China.
A Commerce Department probe was announced to investigate security risks from "connected" vehicles, highlighting concerns over a potential "flood" of Chinese cars impacting domestic goals.
Starting January 2026, the European New Car Assessment Programme (Euro NCAP) will introduce new rules affecting car safety ratings, penalizing vehicles without physical controls for essential functions.
This decision targets the industry-wide shift towards touchscreen interfaces over traditional buttons and dials, aiming to reduce driver distraction and enhance safety.
Automakers like Hyundai and Toyota are noted for integrating more traditional controls, while others are urged to adapt to ensure their vehicles meet these forthcoming safety standards.
Taking to the Sky
CNBC
Alef Aeronautics has garnered 2,850 preorders for its $300,000 Model A flying car, aiming for a 2025 launch. Unlike typical eVTOLs, the Model A mimics a conventional car's design, backed by SpaceX (Not Tesla, but the same vibes) and investors like Tim Draper (Not Don Draper from Mad Men). It faces regulatory hurdles but represents a novel blend of road and air mobility.
Electrify News
Pyka's Pelican Cargo aircraft, an autonomous electric freight carrier, showcases at New Braunfels Airport. With a 400-pound payload and 200-mile range, it partners with AFWERX for the US Air Force's Agility Prime program, pushing the envelope in remote cargo delivery and setting new benchmarks in sustainable aviation.
In Good Company
General Motors is developing a fleet of hydrogen fuel-cell medium-duty trucks in a $65 million project. The DOE's is contributing $26 million to the project into order to demonstrate hydrogen as a sustainable alternative to diesel.
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In February, Ford's US sales rose by 10.5% with a significant 81% surge in EV sales, indicating robust demand for hybrids and all-electric vehicles.
Total sales hit 174,192, driven by an 81% increase in EVs, including notable jumps for the Mustang Mach-E (up 64%) and the F-150 Lightning (up 93%).
89.5% of sales were still traditional vehicles. The company's overall year-to-date sales improved by 6.6%, reflecting Ford's growing emphasis on electrification.
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NIO reported a Q4 2023 revenue increase of 6.5% YOY to $2.38 billion, despite a net loss of $923 million.
NIO celebrates 10 years, launching Alps and Firefly EV sub-brands.
Alps targets Tesla Model Y, debuting Q2 2024.
Anticipated production: 10,000 units/month.
NIO plans to enter the UAE market in 2024, expanding its global presence.
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Toyota announced it will make Primearth EV Energy Co, a joint venture with Panasonic, a wholly owned subsidiary, to boost production of EV and hybrid vehicle batteries. The acquisition is slated for late March.
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One weird thing about keeping up so we don’t have to catch up is how often a tiny update is released attached to the bulk story we already know.
Example: We don’t need to tell yall Toyota cares about hydrogen power ever again, you know, everybody knows. But we do want to tell you when they actually do something with that care.
We will try to stick to the verbs and not the comments. Feel free to hit reply and let us know what you’re seeing, and we will dig in and show what we find.
TOGETHER WITH PAVE
Online Trades
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More and more consumers are starting their car shopping journey online. Some 90% of people browse your inventory long before they walk into your showroom.
Despite a clear preference for digital shopping, only about half feel confident buying a vehicle through the web, pinpointing a critical need for enhanced pricing transparency.
PAVE revolutionizes trade-in inspection and valuation for you and your customer's experience.
Integrating PAVE into your dealership's website simplifies the trade-in evaluation for your customers and significantly boosts your lead quality and conversion rates by 3x.
Don't let the digital transition leave you behind. Click here to discover how PAVE's virtual inspection platform turns anyone, anytime, anywhere, into a professional inspector, setting your dealership above the competition.
WHAT WE’RE READING
The Power of Being Unreasonable
Giphy/NBC
Get ready to crank up the dial on hospitality to ensure not just satisfied customers but raving fans of your dealership.
Based on some of the gems from Will Guidara’s book, "Unreasonable Hospitality," we're exploring how you can inject some serious magic and empathy into the car buying and servicing experience.
🪄 Making Magic 🪄
The retail auto industry, much like the fine-dining world described in the book, is ripe for moments of enchantment and surprise.
As Will says, “We have an opportunity—a responsibility—to make magic in a world that desperately needs more of it.”
Dealerships can create their own version of an enchanting "Four Seasons experience" by focusing on the ambiance of their showrooms, the personalization of customer interactions, and the unexpected delights that make each visit memorable.
For instance, offering things like complimentary car detailing with every purchase, providing loaner cars with upgraded features, hand-delivering documents or personalized gifts, or connecting customers with local recommendations demonstrates a commitment to exceeding expectations.
🏹 The Extraordinary Power of Intention 🏹
Drawing from Will’s emphasis on intentionality, dealerships should consider a thoughtful approach to every aspect of their operations.
He states:
This means not only striving for excellence in customer service and vehicle care but also considering the impact of each decision on customer satisfaction and loyalty.
For example, following up after a service appointment with personalized advice or checking in after a sale to ensure the customer is happy with their purchase demonstrates a commitment to long-term satisfaction.
AROUND THE ASOTU-VERSE
ASOTU CON 2024 Speaker: Liza Borches
As the visionary behind "Love People More Than You Love Cars" and the Carter Myers Automotive leader, Liza Borches’s impact on growth, culture, and community is unparalleled.
Catch her invaluable insights LIVE in Baltimore, MD, May 14-17th. It wouldn’t be ASOTU without her.
Quick Hits
The U.S. has placed sanctions on a Greek spyware company, saying it has been targeting U.S. officials. 🕵️♀️
Every documentary nominated for an Oscar is available for streaming. 📺
New York banned Airbnb, New Jersey didn’t. Six months later, New Jersey seems happier with their choice than New York. 🏨
History
1896: Charles King drives the first automobile in Detroit, ushering in the Motor City. 🥇
1899: The patent office in Berlin registers Aspirin. 🙌
2018: Forbes names Jeff Bezos as the world's richest person, for the first time, at $112B net worth. 🤑
Thank you for reading, friends! Let’s do what we gotta, so we can do what we need to, so we can do what we want to. Any other order would tumble over.
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