#657 - 🚗 Across the Board

TOGETHER WITH

New week, new us, friends!

Everybody has their own tolerance for making mistakes, but Monday is when we all agree to reset. So, enjoy a clean slate and work boldly for your family, team, and community.

If things get weird, remember that Monday is always on the way.

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

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BUSINESS

Welcome Back to Monday

Look, we don’t make the rules. We are in the same river as you, just letting this big ol’ current take us wherever it’s going.

Here is some more Q1 reporting news.

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Q1 Across the Board

In the first quarter of 2023, U.S. auto sales saw a 5.1% increase, reaching nearly 3.8M vehicles despite high-interest rates. However, EV sales growth significantly slowed to just 3.3%, highlighting consumer concerns over range and charging infrastructure. 

• The average sales price of vehicles dropped 3.6% to $44,186, the most significant decline for March, with automakers offering more discounts and lease deals. 

• The EV market share slightly declined to 7.15%. Mainstream buyers' skepticism, high-interest rates averaging 7%, and a shift towards more affordable and smaller vehicles are influencing the market dynamics. 

• Notably, GM, Stellantis, Kia, and Tesla reported sales declines, contrasting with increases from Toyota, Honda, Nissan, and Subaru (and a marginal rise from Hyundai). 

• Tesla's global sales dipped by nearly 9%, and it was affected by operational disruptions.

Subaru: Sales Up, EVs Down

Subaru's U.S. EV sales weakened in Q1 2024, with the Solterra experiencing a 13% decline in March, marking the third consecutive month of decline.

Overall sales increased by 6.7% to 152,996, but Solterra's EV share of total sales remains below 1%. 

However, introducing the new 2024 model, featuring faster DC charging and more standard equipment, holds significant potential to reverse this trend and boost future sales.

Rivian: Paused and Surpassed

Rivian outperformed in Q1 2024, producing 13,980 EVs and delivering 13,588, surpassing expectations. The company paused its Atlanta factory construction to focus on more affordable models amid supply chain issues. Despite forecasting a delivery drop, Rivian's adjustments led to impressive results, reaffirming its annual production target.

Stellantis: Production and Demand Issues

Stellantis' production in Italy dropped 9.8% in Q1 to 170,415 units, moving away from its goal of reaching one million units by the decade's end. Production issues were exacerbated by delays in Italy's auto purchase incentive scheme and weak demand for electric vehicles. The union projects a significant annual production decrease, but new government incentives could improve forecasts.

Fisker: Updates and Downgrades

A brutal review of the Fisker Ocean went semi-viral recently. The company updated the software and the updated review is out now...but, not any better. 

The review may not directly cause cancelations, but it is surely not helping. Fisker is facing a significant setback as over 40,000 of the 70,000 reservations for its Ocean EV were canceled amid financial turmoil. The company, grappling for funding, has issued around $9M in refunds. Despite dropping the Ocean's price to boost sales, Fisker's survival is still being determined, with production paused and funding efforts faltering. 

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The thing about brutal honesty is it is honesty PLUS brutality. You can be honest without being brutal, but then you won’t go viral. In fact, the algorithm seems to kinda hate honesty with no gimmick.

TOGETHER WITH FORCE

From Struggle to Success

In automotive sales, standing out is vital, and Force Marketing knows how to make that happen. Their new Case Study Library brings success stories to the forefront by spotlighting dealers using Force's Core4 solutions and highlighting the ROI data. You can browse and even download over 35 case studies!

From boosting retention to mastering media, these real-life examples paint a clear picture: there’s a way to thrive, even in challenging markets. Learn more about the library with this quick video. ⬆️⬆️⬆️

Browse for yourself at Forcemktg.com/casestudies and contact Force Marketing today to learn how you can activate their Core4 Solutions and start generating real results!

AROUND THE ASOTU-VERSE

Liza Borches at ASOTU CON 2024

Name: Liza Borches

Title: President & CEO of Carter Myers Automotive

Cred: Over a decade of leadership at Carter Myers Automotive. Former Owner and President of Volvo of Charlottesville, VA. Senior District Sales Manager at American Honda Motor Company from 1997 to 2003.

Super Powers: Visionary Leadership. Superior Customer Satisfaction. Morale Booster Extraordinaire.

Achievements: Expanded her dealership network across Virginia with multiple franchises. Implemented an Employee Stock Ownership Plan to empower and reward employees. Committed to taking care of everyone in her community — customers and beyond.

You don’t want to miss out on Liza’s panel session this year at ASOTU CON! She’ll be sharing cutting-edge recruitment tactics, best practices for onboarding, and strategies for fostering a workplace culture that promotes growth, learning, and retention. Get your tickets today!

MORE THAN CARS MOMENTS

Walser Rethinks the Workweek

Walser Automotive Group has recently shaken up the traditional scheduling model by introducing a four-day workweek to its sales force in Minneapolis, Minnesota.

The new shortened workweek is designed to replace one traditional workday per week with extended hours during the remaining days, thereby gifting employees an impressive 52 additional days off per year. It's a strategic initiative to provide more consecutive days off, enhancing employees' ability to enjoy uninterrupted personal time and engage in meaningful activities outside of work.

Sherry Schultz, Walser's Chief Human Resources Officer, emphasized that this shift is a direct response to employee feedback craving more flexible schedules and a better work-life balance. In response, the new schedule was implemented to support more consistent performance while also allowing employees the time they need to recharge fully.

Schultz hinted at the possibility of extending this innovative scheduling model to other departments within the company, demonstrating Walser's overarching commitment to enhancing their employees’ experience across the board.

(Psst…if you want to hear about even more about how Walser cares for their team and community, check out our recent podcast with Director of Diversity, Engagement, and Foundation, Dayna Kleve).

Quick Hits

• Unemployment falls 3.8%. 📉

• Dune 3 is in development following the success of Dune 2. 🌶

• NASA is going to chase the eclipse with jets. ✈️

History

• 1730: Shearith Israel, the first synagogue in continental North America, is dedicated.🥇

• 2014: Windows XP reaches its standard End Of Life and is no longer supported. 💀

• 2024: A total solar eclipse will be visible across much of North America today! On average, this type of eclipse — where the Moon completely covers the Sun — only happens in the same place once every 375 years. 😎

Thanks for reading, friend. If Monday starts to get you down, just close your eyes and imagine your office has an alligator in it. Then open you eyes and enjoy the alligator-free space.