#659 - 🚗 General (Hybrid) Motors

TOGETHER WITH

We try to keep these emails short enough to enjoy all at once, but sometimes the news pops, and who are we to hold information from you?

So this one’s a bit longer, but we mean every word.

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

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BUSINESS

Spring is Here

Spring is here, and with it, new stuff and old stuff is waking up.

Today, Acura and GM show off new models while Lucid, Tesla, and California revisit old ideas. Let’s take a look.

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Courtside with CA: Court Sides With CA

A US appeals court affirmed the EPA's decision allowing California to set its own electric vehicle and emissions standards, countering a challenge from 17 Republican-led states and fuel producers. This restores California's mandate for zero-emission vehicle sales, reversing a previous reversal. #Judo?

Lucid: Up and Allied

Lucid Motors, the luxury electric vehicle maker, surpassed first-quarter delivery estimates.

• 1,967 vehicles handed over to customers, 

• Benefiting from recent price cuts of 1% to 10% on its flagship Air sedans. 

• Despite a slowdown in the broader EV market due to high interest rates and elevated ownership costs, Lucid's aggressive pricing strategy, including nearly $30,000 off select models and attractive leasing terms, has strengthened its market position. 

• The company also announced plans to launch a mid-size car by late 2026, aiming for a competitive $50,000 price point.

Financially, Lucid remains bolstered by significant investment from the Saudi Public Investment Fund (PIF), which recently injected another $1 billion, despite the company's substantial losses totaling $2.8 billion in 2023. 

New Acura Unveiled

The Acura ADX, set to debut in early 2025, will become the brand's fourth SUV, positioning beneath the RDX. It's designed to rival vehicles like the Volkswagen Taos and Buick Envista, featuring a turbocharged powertrain, a significant upgrade from the Honda HR-V. 

Acura aims for the ADX to attract a new generation of buyers while transitioning towards electrification, including an all-electric MDX in the future.

Tesla: Dip, Settle, Robo

Tesla faces a multifaceted period as the first quarter of 2024 reveals a downturn in EV production and deliveries for the first time since 2020, signaling a hiccup in their previously uninterrupted growth.

• Production dipped nearly 2% year-over-year, with a 9% decrease in global deliveries. 

• Despite this, the "other models" category, likely buoyed by the Cybertruck, saw a 59% increase in deliveries. 

• This period of contraction contrasts starkly with Tesla's robust performance in 2023, where it produced over 1.84 million vehicles, marking a 35% increase from the previous year.

Adding to its challenges, Tesla has opted to settle with the family of an Apple engineer who died in a crash while using the Autopilot system, a move away from its initial strategy to contest the wrongful death claim. 

Not counting Autopilot out yet. Tesla announced the unveiling of a new 'robotaxi' on August 8, emphasizing innovation despite current adversities. This vehicle, described as "Cybertruck-like," underscores Tesla's commitment to advancing autonomous driving technology. 

General (Hybrid) Motors and Electric Enclaves

General Motors reinvigorates its vehicle lineup, highlighting the transition towards plug-in hybrids and EVs. Challenges with the Ultium EV platform have GM aiming to diversify its electrified offerings, reintroducing PHEVs such as a potential Chevy Equinox or Silverado. Despite sluggish EV sales, including the discontinuation of the Chevy Bolt and paused Blazer EV sales, the Cadillac Lyriq and GMC Hummer EV show steady demand. 

GM's strategy also includes revamping Buick's lineup, exemplified by the redesigned 2025 Enclave SUV, as it moves towards an all-electric future with plans to exclusively offer EVs by 2030, reflecting a broader shift in GM's approach to meet evolving consumer demands and environmental standards. 

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TOGETHER WITH UPSTART

Leadership in the Dealership

Join Upstart as they unveil — the Leadership in the Dealership podcast. 🎙️

The show will feature some of the nation’s top dealers and thought leaders, exploring cutting-edge trends shaping the auto industry across digitization and improving the customer experience.

Ready to meet your hosts and catch a sneak peek of what's to come? Check out the first episode with Brian Kramer below, brought to you by Upstart. 🏎️💨

• Youtube

• Apple

• Spotify

/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

ASOTU CON is 34 days away.

If you’re opening this email, you care about the direction retail auto is taking, and we are here to tell you that participating in guiding it is an option!

People from across the world and industry will meet up in Baltimore May 14-17th to innovate, collaborate, and learn from one another to take ownership of our direction and destination. No more inevitable mistakes. No crisis can win.

Join the conversation, and grab your ticket now!

WHAT WE’RE READING

Teamwork Makes the Dream Work

Contrary to what one might expect, working closely with people that you care about deeply doing something you’re all fiercely passionate about, can sometimes lead to friction.

In this week’s dive into Will Guidara’s best-selling book, Unreasonable Hospitality, we unveil some of the leadership skills and management methods he uses to keep his team inspired, invested, and rowing in the same direction. 

👉 Check out the full write up here. 👀

Quick Hits

• Amazon moves the release date of the Fallout show closer. 🎮

• For some reason, interest rates may go UP? 🤬

• As other brands pull back from self-checkouts, Target is redesigning theirs. 🏪

• A story found a link between salty substitutes and longer lives. Which is why saltwater fish aren’t immortal. 🐡

History

• 1904: Audi is founded, sort of. 🤷‍♀️

• 1912: Titanic sets sail on her maiden voyage from Southampton to New York. 🧊

• 1925: The Great Gatsby by F. Scott Fitzgerald, a story set in Long Island's North Shore and New York City during the summer of 1922 is published, and often cited now as an example of the Great American Novel. 😘

Thanks for reading, friend! Want to suggest some good email content? Simply write it on a post-it, buy a ticket to ASOTU CON 2024 in Baltimore this May, and hand it to Kristi or Chris. You COULD also just hit us up on the social links below, but we understand if you are more of the “in-person” sort.