#637 -💿☀️📈 Software, Solar, and Stocks

TOGETHER WITH

ASOTU CON 2024 is 60 days away, and today is the last chance to grab a ticket at early bird pricing.

Check out the news and the weekly economic recap, then stop by the ASOTU-VERSE section to grab your ticket now; we can’t wait to see you there!

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

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BUSINESS

Friday News

"Navigating," "Evolving," "Market," "Dynamics” — words that can be so easy to skim over in our buzzword world. But so often, history is written by getting lost, embracing changes, adapting to existing opportunities, and being ready for whatever comes. So, today's business section is about companies navigating evolving market dynamics and we aren't sorry. 

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Fisker's Financial Woes: Bailing is an Option. 

Fisker, grappling with over $1B in debt against $273M in sales last year, is the living example of electrification's steep on-ramp. Considerations of bankruptcy due to stagnant sales and operational hurdles, such as a 46% plummet in share prices following restructuring news, underline the intense pressures on startups. This scenario is compounded by strategic shifts, like moving from direct sales to traditional dealerships, indicating a rigorous search for viable business models within the EV market.

Nissan and Honda: New Partner, Same Mission

In a strategic pivot, Nissan is in talks with Honda to co-develop a new EV platform and modular electric axle. Everybody is looking for a way to grab some affordable market from China. Such partnerships signify a growing trend of collaboration over competition, focusing on innovation and cost reduction to democratize EV access.

Ford Pro: Sell What People Are Buying

Ford's commercial vehicle unit, Ford Pro, aims to leverage software sales for substantial profits, targeting $1.8B in annual profits from software subscriptions. This strategy illustrates the automotive sector's shift towards digital solutions as significant revenue streams, with a 46% year-over-year increase in paid software subscriptions evidencing the potential of this approach.

British Military Embraces Solar EV Charging: Sunshine is Free

Highlighting the expanding application of EV technology, the British military's acquisition of $1M worth of solar EV chargers from Beam Global for use in Cyprus demonstrates the versatility and strategic importance of renewable energy solutions in operational contexts. This move not only supports sustainability goals but also showcases the practical utility of EVs in diverse settings.

The Pushback Against Screen-Centric Designs

The upcoming Euro NCAP regulations, penalizing vehicles without physical controls for critical functions, reflect growing safety concerns over touchscreen distractions. Automakers' responses, such as Dacia and Fiat's models without center screens, underscore a reevaluation of vehicle design priorities, balancing technological innovation with user safety and regulatory compliance.

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Is that enough dynamic market shifting for one email? There is no precedent set for what a company may become. Nintendo started as a playing card company. Someday, we may say, "Did you know Tesla and Ford used to make cars?" We doubt it, but far stranger things have happened.  

TOGETHER WITH SMEDIA

Banish the Guesswork

Not long ago, ASOTU chatted with Erin Richmond, (newly announced 🥳) CEO of sMedia, about the many ways dealerships can leverage their strengths to broaden and deepen their impact on the market.

The Auto Collabs episode, "Clever is the New Creative," is worth checking out to hear all the exciting things firsthand from Erin and to get an idea of sMedia's results for dealers: 

• sMedia customizes digital advertising to target the right audience

• Optimize your dealership's online visibility, sMedia ensures you stand out in a crowded digital marketplace.

• Using data-driven strategies, sMedia removes the guesswork and increases your dealership's sales and customer base.

Check out how sMedia will fuel your dealership's success today. 

/Positivity

If we tried to tell all the wonderful, charitable, and creative stories happening in dealerships across our industry, we would need a bigger email. But we have just enough space in this email for YOUR story.

Let us help show the community and world what you have going on in your store! 🕊️

DATA & INSIGHT

Hammering Out a Path to Moderation

Let’s dive head-first into this week’s market moves. Check it:

Last week, stock markets dipped slightly, while bond markets gained from lower Treasury yields. The S&P 500 remains strong, up nearly 25% since late October, without a significant pullback.

Market analysts are still anticipating a potential short-term consolidation in equity markets but don't foresee a major downturn.

Indications from the Fed suggest a readiness to adjust interest rates in response to these labor market signals, with potential cuts later in the year, possibly starting around June.

Federal Reserve Chair, Jerome Powell, told us during his testimony to Congress last week that the Fed is "not far" from gaining the confidence it needs to begin a rate-cutting cycle.

The latest findings from Widewail's 2024 Brand Scorecard Report are now available, offering a revealing snapshot of the online reputations of the nation's most popular automakers. This year, the report meticulously analyzed 32 leading automotive brands to gauge their standing with consumers.

To no one’s surprise, Toyota/Lexus topped the list. Luxury brands Lincoln and Genesis brought up the caboose.

👉 Keep reading here. 👀

AROUND THE ASOTU-VERSE

Last Chance for Early Bird Prices!

Any good bird knows the value of a nest egg. Early birds, even more so!

Grab your early bird ASOTU CON 2024 ticket today to increase the “R” in your “ROI,” and meet us in Baltimore for an industry-changing time!

Quick Hits

• Retail sales jumped in Feb despite higher gas prices. 📈

• The EU has passed the world’s first major AI regulator act. 🤖

• Missing “30 Rock”? Netflix apparently has a show people are saying fills its shoes. 📺

History

• 44 BC: The assassination of Julius Caesar takes place on the Ides of March (this is the one with all the daggers and the famous “Et tu, Brute?”). 🗡

• 1956: The musical "My Fair Lady" opens on Broadway. 🎵

• 1961: Jaguar E-Type is released. 🐆

Thanks for reading! Enjoy your Friday, and send us a song that sets the tone for your Friday. As for us, we’re in love.