67 Nissan Workers Vote “Nah”

TOGETHER WITH

“The noblest art is that of making others happy.” -P.T. Barnum

Seems like time do embark on some noble art making today! 😜

Keep Pushing Back-Paul, Kyle, & Chris

DEALERS

All Things Used Cars: Our Own Economy

David Long and the All Things Used Cars community start every week with an economic breakdown by our friend John Ellis. The snapshot is never all roses or rain, but contains a different combination of the two from week to week.

This week David Long invites the community to consider what it means to "make their own economy" - to not bury their heads when John starts to speak about challenges, but to shorten the distance between learning and applying the best possible strategy for the market, economy, and industry as they shift.

David shared the thought starters:

• How can a company become impervious to a down turning economy? David thinks it is not a market thing but a strategy and intention that can be learned and duplicated.

• What are the essential changes somebody makes when buying a new store? Can those same changes be implemented by current operators to bring about those same 2, 4, 8 fold improvements?

• What are we in this business for? David does not think it is to sell cars. Is it to make money? To help people?

Check out the full replay for thoughts from excellent operators from across the auto community, or hit reply and let us know your own thoughts. We may just use your reply in a future email!

AUTOMOTIVE

New Vehicles Prices Decline

Cox Automotive data shows new vehicle affordability improved again in February.

Slowly lowering prices, incentives, increased household incomes, and slightly lower auto loan rates contributed to the lower monthly payment.

Current monthly payments have been at their lowest point since October, and the median number of weeks needed to pay off a vehicle dipped from 44.2 in January to 43.2 in February.

Telling it like it is - Don’t spend all those savings in one place, America. Well, unless that place is the egg cooler at the grocery store.

TOGETHER WITH AUTOMOTIVE VENTURES

Required Reading

The automotive industry comes with no syllabus, but a list of required reading.

No matter who you ask, Automotive Ventures' monthly Auto Intel Report is on the list.

Once a month, Steve Greenfield's team delivers current industry news, technology updates, investment activity, and more with in-depth segment breakdowns to ensure the information is, you know, actually useful.

Sign up for the Automotive Ventures Auto Intel Report now!

AROUND THE ASOTU VERSE

Motor Madness!

Join us for Motor Madness! Each day we will post a poll on LinkedIn pitting two classic rides against one another until only one remains!

*Super Bowl rules are ok. E.G. If you don't want to vote for your favorite, at least vote against your least favorite.

AUTOMOTIVE

Nissan’s Vote, 7-Eleven’s Network, GM’s Time In China

Nissan workers in TN voted overwhelmingly against unionization. Of the 88 tap-and-die workers, 97% participated in the vote with 62 voting against and 9 for union representation. Nissan's spokesperson said they respect this decision, and the union rep says they will continue to support workers until the time is right to revive the campaign.

Speaking of "revival," a custom Nissan Leaf hearse offers a cozy, carbon-free ride to one's final resting place. The coffin transportation area extends from the dashboard on the passenger side to the back hatch, leaving just enough space for the driver. Since it drives silently, it is just as restful in the driver's seat as it is in the passenger's.

Oh, thank heaven. 7-Eleven says it will build the largest charging network of any retailer in the US and Canada. The 7Charge project already has working DC fast chargers operating in Florida, Texas, Colorado, and California, but plans to expand across the US and later into Canada.

The company says the charger hardware will be compatible with the most common types and work with Tesla adapters. Always thinking ahead, the 95-year-old service giant launched an app to help travelers find charging stations.

However, with all these companies launching unique charging networks, we wonder: will there ever be an app to tell us which square mile of North America does NOT have a charger on it?

Despite getting past that big wall, GM and other American automakers are having issues claiming a piece of China. GM's earnings in the world's largest auto market fell 67% from their high point in 2014-2015. In the same period, GM's market share in the nation dropped from 15% to 9.8% in 2022.

While Covid has played a role in the decline, it started years earlier and has only become more complex in the last few years as both the US and China navigate economic and political tension.

TL: DR - Nissan workers in TN voted against unionization, 7-Eleven is getting into EV charging, and GM is getting the worst of the China/US freeze-out.

CTYPTO

Bitcoin Rebounds On Back Of Bank Turbulence

Bitcoin hit its highest price in nine months on Friday. Investors moving their funds away from banks and adjusting to the rapidly changing interest rates have the biggest crypto currency sitting up 30% this week at around $28K.

Ethereum, the 2nd largest coin, rose 20% in the same period.

One expert commented on the fluctuation between banks and coins during turbulent times either, “Fears over the stability of the banking system, along with declining real interest rates, creates a good environment for bitcoin to rebound because it is seen by some investors as a hedge against systemic risks,” said Ilan Solot with London broker Marex.

Telling it like it is - We asked our bank if we should be worried and they took a break from stripping the copper out of the walls to assure us things are going to be a-okie-dokie.

Quick Hits

• First Republic is the fourth bank to enter a crisis this week.

• Microsoft announces Copilot, an AI for your Microsoft 365 needs.

• Denzel Washington could be in Ridley Scott’s Gladiator Sequel.

• Samsung caught faking zoomed-in photos of the moon.

History

• 1916: Albert Einstein publishes his general theory of relativity.

• 1922: US declares all homes must have mailboxes.

• 1988: The last Pontiac Fiero leaves the assembly line.