#663 - đźš— Wake Up. It's Monday

Italy, Family and Friends, and Walser's Hospitality

TOGETHER WITH

Monday, April the 15th. That’s right, Tax Day.

If you haven’t already turned in your taxes, filed an extension, or decided to move into the forest where everything lives free, we hope you find time to do so today.

Don’t forget those Red Bull receipts; those are work expenses.

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

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BUSINESS

Wake Up! It’s Monday

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Today, we have some more Q1 news and an interesting piece from Italy.

Polestar took a dive (it’s bigger than a dip), VinFast made some sales to its owner’s other companies, and Kia kinda knocked it out of the park.

Quarters, like Mondays, are what we make of them. Enjoy the day, friend.

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Italy Vs. Alfa Romeo Stellantis

Alfa Romeo says its new EV will be named "Milano." No, not after Alyssa or Star-Lord's ship (which is actually named after Alyssa); it will be named after Milan, Italy. 

Star-Lord’s Milano. *also not built in Italy

But Italy says, "Nope." Since the car will be manufactured in Poland, the Italian government has a law that prohibits Italian-sounding names for products made outside the nation. 

Weird flex, but ok... Like in many spats, the issue isn't the whole issue. Italy is upset with Stellantis for moving abroad and not supporting domestic brands amid the country's push toward EV adoption. Domestic EVs to be precise. 

Falling Polestar đź’«

Polestar EV sales were down 40% in Q1 2024, continuing the trend from Q4 2023. Here are some details: 

  • Total deliveries for Q1 2024 are approximately 7,200 units.

  • 2023 total deliveries of roughly 54,600 vehicles, a 6% increase from 2022.

  • The 2023 sales target was initially 80,000, revised to 60,000-70,000, but not achieved.

  • 2022 total sales were approximately 51,500 vehicles, up nearly 80% from the previous year.

  • Polestar's 2025 global EV sales target is 155,000-165,000 units.

  • Secured $950 million from international banks in February for future developments.

  • Geely Holdings now holds approximately 24% of Polestar's stake; Volvo Cars retains 18%.

VinFast Family Financing

Vietnam's big player in the global EV market, VinFast, reported some increased financial risks with its Q1 data. 

Friends and Family deals? Most (82%) of the automaker's sales last year were to other companies owned by Vingroup. Since 2017, VinFast has received $11.4B in support from its owner while trying to attract retail customers. 

Vingroup's financials have also been impacted, with a 38% decline in share price since VinFast's U.S. listing and rising borrowing costs. VinFast plans to triple its sales this year and expand globally despite the current market conditions.

This makes us wonder, what's the REAL difference between a "plan" to triple sales and a "please please please" wish?

Kia Killin' It

Kia is celebrating its second-highest sales quarter. Q1 2024 was packed with SUV and EV sales, with three models selling more than 10K units. 

EV sales surged by 88% Year over Year. The EV6 and EV9 models had a 151% sales jump in March alone. 

So, things are going well for Kia. A quick Google search for "Kia Boyz" would suggest fewer Kias are being stolen lately, too. #blessed. 

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What would you name your ship if you were a space-pirate-turned-guardian-of-the-galaxy? I think mine would be called “Sgt. Pepper” after pepperoni pizza, and to annoy Beatles fans.

TOGETHER WITH TRADEPENDING

This Video is So Hot Right Now

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Pause that video a moment and take a look around. You'll probably notice that video is everywhere.

Using video content in the sales process is growing quickly because it rises above the clutter of expected email, phone, and text follow-up and puts a human face to the name before your customers even step on the floor.

When it comes to picking a video provider at your dealership, you've got some options to choose from, and TradePending breaks them down for you here.

MORE THAN CARS MOMENTS

Walser’s Hospitality

Our dear friend Dayna Kleve sent a message to our More Than Care Moments portal to share the impact Will Guidara had on some Walser managers.

After the author spoke to the dealer group in January this year, leaders at their Walser Polar Mazda took every word to heart and started putting them in to action.

In the video above, the Polar Mazda team shares they always see people as people, not numbers, so implementing what could be mistaken for Restaurant-Only wisdom from “Unreasonable Hospitality” in their dealership was easy.

Now the team still treats every person like a person, but as one big family, engages with them like a friend. Sending home postcards, cookie dough, and personal touches with each sale.

“It’s a win-win for both of us. I love that they leave with their product, they have our postcard, maybe they put it on their fridge, maybe they throw it away, but when they’re eating their cookies, they’re thinking of us.” - Bret Juedes, General Manager, Walser Polar Mazda.

AROUND THE ASOTU-VERSE

ASOTU CON 2024

It’s only 29 days until ASOTU CON 2024 in Baltimore, MD!

Grab your ticket now, and let’s show retail auto the future.

Quick Hits

  • Space Force is planning its first exercise in orbit. 👩‍🚀

  • Spotify may let you “remix” songs soon to combat TikTok’s super-fast song trend. đź’ż

  • Tired of remakes? Yeah, we know. But now, the old-school Transformers cartoon is back. Does the nostalgia help at all? …yeah, we know… 🤖

History

  • 1755: Samuel Johnson's A Dictionary of the English Language is published in London. It was seen as the most essential English Dictionary until the Oxford English Dictionary was published 173 years later. đź“–

  • 1912: The RMS Titanic struck an iceberg just before midnight on 14th April. The Ship with 2,200 passengers and crew on board on its maiden voyage was thought to be unsinkable, but it sank after 2 1/2 hours when the ship broke in two in the Atlantic Ocean. 🛳

  • 1964: 22-year-old Gail Wise is the first to buy a Ford Mustang two days before they were scheduled to go on sale. 🥇

Thanks for reading, friend! You know we mean that, right? The “Friend” part? What is a friend, if not somebody whose good you work for, hope for, and think about even when they aren’t around? Somebody to play chess with? Sure, but we would do that too. We are seriously committed to this friendship.