#652 - 🚗 Strikes Are Expensive

TOGETHER WITH

42 days until ASOTU CON!

That isn’t a countdown but a reminder that there are 42 opportunities to have a day that changes our lives, industry, and teams.

ASOTU CON will celebrate everything retail auto is while inviting our community to dream together and plot all it will be.

We are so thrilled to hear about your next 42 days when we get together in Baltimore this May.

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

_{Was this email forwarded to you? Subscribe here!
Reading time: 3 mins 53 secs}

BUSINESS

Tuesday the 2nd = Two-s-day

Strikes cost money, but those costs equal more earnings later, so strikes are investments. Is that how money works?

--

Gotta Strike Money To Make Money?

Ever wonder how much money the UAW made with all its production-halting moves in 2023? Like a Facebook relationship in 2007, it's complicated. Membership is down, strikes cost big bucks, but new assets are up. Here are the details from a recent Automotive News article. 

• According to its annual financial report, the United Auto Workers union reported a 3.3% decrease in membership last year, dropping to 370,239, the lowest level since 2009.

• Despite this decline, the union's net assets increased to $1.1 billion, even after disbursing $152 million in strike benefits. 

• The UAW faced substantial work stoppages at Ford, General Motors, and Stellantis, leading to significant strike-related expenses, including $27,295 on rain ponchos and $37,350 on yard signs. 

• UAW President Shawn Fain's compensation was $228,872, while Secretary-Treasurer Margaret Mock received $224,929. 

• The union also spent approximately $5.1 million on legal services related to its court-appointed monitor.

Tesla's Worst Q.

In a lot of ways, Tesla is running its own race, but off-road, race track, or treadmill, a busted toe is a busted toe.  

In the first quarter of 2024, Tesla's stock plunged by 29%, marking its third-worst quarterly drop since its IPO, as investor worries intensified over rising competition, especially from China, and European sales disruptions. 

Despite price cuts, analysts have lowered delivery expectations, with projections around 457,000 units, only an 8% year-over-year increase. 

Geopolitical tensions and labor disputes exacerbated production challenges. This downturn led to over $5.77 billion in profits for short sellers, highlighting a tough quarter for Tesla. 

Xiaomi: Smartphones and Smart Moves

The Chinese phone maker Xiaomi has a 15% jump in its stock value following the release of its EV. The SUV7 is priced around $4,000 less than the Tesla Model 3 and already has a month-long wait for delivery.

Other Chinese brands, like Nio and Li Auto, have cut their Q1 delivery forecasts, while BYD is pressing on to keep its place as the global EV sales leader.

Does anybody have a guess as to how Xiaomi will do in the market? March Madness is over, and we’re looking for something new to make vague guesses about.

--

Tesla’s worst quarter is still a year-over-year increase. Just a smaller one.

It seems to be a metaphor for how some people are unpleasable; no matter how hard you try or how much you achieve, that glass is always half empty… or, in Tesla’s case, the battery is always half depleted.

Don’t let the haters steal your shine today, friend.

TOGETHER WITH TRADEPENDING

Stop Fooling Your Website Visitors

One of the top reasons people visit your website is for service.

If your website doesn't list your service offers and their prices, you're fooling your customers, and they're taking their business elsewhere.

Sure, you can keep everything up-to-date manually, or you use TradePending. Their Service Offers (aka Fixed Ops Digital) solutions to turn your website from your service business's own worst enemy into a service marketing machine.

MORE THAN CARS MOMENTS

Crafting Unbreakable Bonds

Finding ways to bond at work isn't always easy, but Ziegler Auto Group has it down to an art.

They're keeping the team spirit alive and well with friendly competition and curated team playlists.

Tim Terrentine, T&D at Ziegler, says he is a huge proponent of “anything tournaments”—as in, anything can be a tournament. Have a board game face-off. Start a trivia game around the office. See who can put together the same puzzle the fastest.

Tim says, “The idea is that particularly in an environment like Zeigler Auto Group, we have very competitive people. These are people driven to win. What we want to normalize in that activity is that you can compete together.” 🤝

What unique ways does your team use to bond? Hit reply to let us know so we can share with the rest of our community!

AROUND THE ASOTU-VERSE

Tomorrow on Auto Collabs!

Tomorrow, on Auto Collabs, we talk to Will Guidara, the author of Unreasonable Hospitality and our ASOTU CON 2024 closing keynote speaker.

Check out this clip of Will sharing a car-buying experience that stuck with him and why.

Then subscribe to Auto Collabs on Spotify, Apple, Google, or YouTube to be the first to hear the full conversation.

Quick Hits

• MIT announced a method for converting CO2 into CO. 🧬

• 1,600 planes across Europe were hit by a sudden and mysterious GPS block. 🧱

• Maybe we were right, and the music may have been better in our day. Or, at least, less enraged. A study shows lyrics have become more angry, simple, repetitive, and self-centered since the 80s. 🎤

History

• 1513: Explorer Juan Ponce de León claims Florida for Spain. 🇪🇸

• 1792: The Coinage Act is passed establishing the U.S. Mint and authorizing the $10 Eagle, $5 half-Eagle & 2.50 quarter-Eagle gold coins, and the silver dollar, half-dollar, quarter, dime, and half-dime. 💰

• 1872: U.S. engineer George Brayton patents an internal combustion engine. 💥

Thanks for reading, friend! Hit reply and tell us the best April Fool’s joke you saw, heard, did, or fell victim to yesterday. Or whenever. We love jokes.