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- #636 - ⚙️👉🧩 Pivots, Persistence, and Puzzles
#636 - ⚙️👉🧩 Pivots, Persistence, and Puzzles
Polestar Pivots, More Than Cars Ep. 3, and the Bigger EV Picture
TOGETHER WITH
In an email packed with small announcements by big companies, we wanted to make one big announcement of our own…
Our friend and teammate, Jordan Cox, welcomed a new baby this week! The Cox family is doing well, and the ASOTU Family is grateful the world has a little more love in it, thanks to one of the most genuine and people-oriented people we know.
We’re blessed to know you and proud to pray with you in this new season, Jordan!
Keep Pushing Back, Friends
-Paul, Kyle, Chris & Kristi
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BUSINESS
Biz Buzz
Giphy
Flight is an agreement with gravity. “Ok, Gravity, I know you are in charge, but I’ve made wings, thrust, and aerodynamics; please let me soar?”
In the same way, market success is in agreement with Wall Street. “Ok, Wall Street, I know you are in charge, but I made profits, a projection, and changes. Please let me soar now?”
So we like to include both. Which company said what, and how did the market value of said company respond? It helps separate the noise from the knows.
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Polestar's Pricing Pivot
Polestar is innovating in a whole new way, while other companies cut the prices of their released models to stay competitive, Polestar has cut the price of its yet-to-be-released SUV.
The Polestar 3 SUV will start at $73,400 in alignment with slowing EV sales.
Originally announced at $83,900, the vehicle will still feature driver assistance tech and optional luxury packages.
Production will begin Q2 this year, with deliveries expected in the summer.
At the time of writing, Polestar is up 2.10% in the market.
VW's Electrifying Evolution
Slowdowns, price cuts, and backpedals aside, VW says it is going ICE-free (eventually).
Software/Charging network challenges have slowed the company, but EV deliveries jumped 10% last year, and profits exceeded $22B.
This year, they have 30 new models planned, with mostly BEVs and some Plug-in Hybrids.
At the time of writing, Volkswagen AG is down 4.93% in the market
Hyundai's Numerical Mystery
Hyundai is testing its IONIQ 9 for all the world to see.
Set for a June debut, the 9 follows the success of the 5 and 6, with the IONIQ 5 being the sixth-top-selling EV in the US last year.
What happened to 7 and 8? Skipped em. The 9 was originally called the 7, but one day it changed.
Production is slated for the first half of the year, with US sales expected in mid-2025, to be manufactured at Hyundai's new $7.6 billion EV Metaplant in Georgia.
The IONIQ 9 may qualify for a $7,500 EV tax credit.
At the time of writing, Hyundai Motor Co is unchanged in the market.
Toyota's Wage Wave
Toyota and the people who make everything Toyota sells have come to an agreement on a wage increase.
It is the largest wage increase in 25 years, potentially influencing a policy shift at the Bank of Japan.
Panasonic and Nippon Steel have already met the union's wage increase demands, and many smaller firms are expected to follow now that Toyota has agreed to the increase.
At the time of writing, Toyota Motor Corp is down 2.22% in the market.
Cadillac's Sonic Boom
Cadillac's new electric concept vehicle, Opulent Velocity, has zero emissions but also sports an "engine-like exhaust note."
The "exhaust note" is an attempt to preserve the emotional appeal of excitement associated with driving traditional ICE vehicles.
The model also commemorates the 20-year history of Cadillac's V-Series.
So, it seems to be a future-facing nostalgia-preserving van-sedan for the everyday EV driver.
Most notable to us is the lack of "Q"s in the name. But with more details coming this year, we could still be surprised.
At the time of writing, General Motors Co. is up 2.95% in the market.
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The worst part about finding a nifty brand gimmick is the 40th time you need to find a way to apply it. Cadillac owns the whole “Extra Qs” gimmick well, but we are glad they didn’t announce the “Qpulent Veloqity” or something…
Best to let your actions be your brand, not your interpretation of the alphabet.
PRESENTING WITH MORE THAN CARS
Episode 3 is Upon Us!
Grab your popcorn and team — we’re having a movie night!
Well, it’s more like a “docu-series afternoon,” but the popcorn and friends are still a good call.
You guys know we believe the dealer model is the best method for meeting the mobility needs of Americans. And we mean that with our whole chest so much that we are spending days with the teams who make our dealer body move, and showcasing the real stories, the human stories, and the full stories of people who love people more than they love cars.
Join us for the premier of Episode 3 on LinkedIn and chat along as we enjoy this glimpse into who dealers really are. 😎
/MTCM
We talk a lot about “Unreasonable Hospitality” around here, and we are excited to hear more from Will Guidara at ASOTU CON about how we can learn from his experience.
Have you seen any stories of unreasonable hospitality in our industry? We call those More Than Car Moments, and we LOVE telling people about them.
Hit reply or the link below and let us help share your story!
AROUND THE ASOTU-VERSE
ASOTU CON 2024 Co-Presenting Collaborators
ASOTU CON 2024 adds new layers every day! Help us welcome leaders and friends, Reynolds & Reynolds and Gubagoo as Co-Presenting Collaborators!
Check out more details, speakers, topics, and festivities now!
Webinar!
Check out this upcoming 30-minute webinar, bridging the Digital Divide, with our friend Ron Bouchard. We take our work of keeping you informed and at the front of every conversation very personally. Webinars like this one with Upstart give us the chance to spread that high-level information along with making it easily accessible. It’s a good spot to be in.
Cars: A Privacy Nightmare?
Catch Kyle’s chat with our friend Ben Hadley? Enjoy a quick 15-minute look at the news of the morning, including Nissan, Tesla, Porsche, and BYD, and a story of insurance prices going up thanks to in-car data-snitches.
DATA & INSIGHT
Giphy/Fox
If you’ve been paying attention at all, you’ll have noticed that electric vehicles have been facing major headwinds in recent months.
With all the EV news being slung at us on the daily, we thought it might be nice to wrangle all that chatter into one place so we can take a look at the bigger picture that all these pieces of the puzzle are adding up to. 🧩
What are you hearing from most of your customers about EVs? |
Quick Hits
Dollar Tree closes 1,000 stores post-Family Dollar acquisition issues. 🚫
Google's AI learns Goat Simulator 3. 🐐
Jennifer Lopez pilots mechs in Netflix's Atlas trailer. 🤖
NYT targets Wordle clones with legal action. 👮♀️
ChatGPT's unique take on 50,000 trolley problems leaves “humanity” to be desired. 🚎
Spotify tests music videos, challenging YouTube. 🎶
History
1900: The Gold Standard Act is ratified, placing the United States currency on the gold standard. 👑
1942: Anne Miller becomes the first American patient to be treated with penicillin under the care of Orvan Hess and John Bumstead. 💉
1963: The Mercedes 230SL debuts. 🚘
Thanks for reading, friends. Last week, we asked “Dogs or Cats?” and got only one reply. Is this thing on? Let’s try again: Rock, Rap, or Country?
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