#681 -🚗 That Makes Sense

TOGETHER WITH

By this time next week, we will be in the perfect middle of our time at ASOTU CON 2024. One wonderful day behind us, and one fantastic day ahead.

What are you excited about? Hit reply and let us know, or just click the “+” on your favorite topics on the ASOTU CON 2024 app.

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

_{Was this email forwarded to you? Subscribe here!
Reading time: 4 mins 19 secs}

BUSINESS

Thursday with Friends

Some things are hard to communicate, like the gratitude you feel for somebody who has treated you like a true friend. I personally find it hard to communicate that things are best communicated by talking simpler, not smarter. Just say, “You’re a good friend, and my life is better because you are in it.”

Is it more awkward? Sure. But is the important thing said? Absolutely!

--

Carvana Q1 Data

Carvana's Q1 2024 report indicates a promising surge in used EV sales as prices align closer with traditional internal combustion engine vehicles.

• Price Trends: The average sale price for used EVs dropped from $37,000 in Q1 2023 to $31,000 in Q1 2024.

• Price Comparison: The difference between used EVs and traditional vehicles decreased from $13,000 to $7,000.

• Sales Growth: Used EVs accounted for 4.3% of Carvana's total sales, marking an all-time high.

• Federal Incentives: Up to $4,000 in federal tax credits for used EVs have enhanced affordability, boosting sales.

• Popular Models: The Nissan LEAF, Tesla Model 3, and Chevy Volt are the top sellers, with significant contributions from the BMW i3 and Volkswagen e-Golf.

Automaker Updates: Self-driving Trucks, Paywalls, and Investments

• Daimler Truck plans to launch driverless semi-trucks by 2027, utilizing technology from Waymo and Torc. The fully autonomous, electric Freightliner eCascadia could revolutionize freight hauling across the Southwest US. 

Of course, it COULD revolutionize the agony of sharing the highway with semis. 

• Hyundai is talking in-car subscriptions in Europe, and we are tired of listening. Their "Features-on-Demand" will allow users to pay for vehicle capabilities, such as software improvements for older models. 

With companies like BMW, Audi, and Mercedes trying the subscription model, Kia will be the first brand whose locked features make drivers say, "Yeah, that makes sense, actually."

• BMW anticipates a slight decline in its pre-tax profit in 2024, attributed to increased expenses in research, development, and personnel, alongside lower used car prices.  

Trying to outspend China is easy; trying to return on those investments is... eh?

• Toyota is channeling its record $34.5 billion profit into the future, investing heavily in electric vehicles and AI technology to stay competitive.

Toyota is going to somehow single-handedly make hydrogen and self-driving AI a real thing while everybody else panics about selling EVs in China. 

Chinese Competition Gets More Complicated

The EV market is shifting as Chinese companies, led by BYD, challenge Western automakers in the global market. As the world's top EV maker, BYD's affordable and innovative models are reshaping industry dynamics, aided by robust government support and advanced technology. 

Meanwhile, Western companies, including Mercedes-Benz, caution against restrictive trade policies with China, emphasizing the importance of this vast market. 

The debate over trade policies, including potential tariffs by the EU and the U.S., underscores the complex interplay between national security, market competition, and technological leadership in the EV sector. As competition intensifies, Chinese and Western automakers navigate a landscape marked by regulatory challenges and shifting consumer preferences.

It seems that the shadow of the US attempt to prioritize American automakers is that Chinese automakers could still make a dramatic impact in the US market by dominating their local market and its resources. Benefits US automakers do not have as much of with current manufacturing, sourcing, and importing rules in place. 

--

TOGETHER WITH CARCUTTER

Quality Pics for Quality Cars

Did you know that the human brain processes images 60,000 times faster than text? In a time when 90% of vehicle sales begin online, captivating visuals are more important than ever.

Do you have beautiful inventory languishing on the lot? It could be because your images aren’t doing them justice. After all, bad photos just don’t sell cars! 

Enter CarCutter. Their AI-powered photography solutions ensure your vehicle listings always look their best. They place your cars in customized, virtual showrooms, guaranteeing consistent and eye-catching online listings.

The best part? CarCutter streamlines and scales your photography processes, drives down costs, and improves your time to market!

Ready to make your listings look as appealing as your inventory?

Schedule a demo today!

PS. Don’t forget to visit CarCutter at the ASOTU CON 2024 Recharge Lounge for everything you need to keep on keeping on!

AROUND THE ASOTU-VERSE

(free) Vehicles For Change(d lives)

On day two, just before Will Guidara takes the stage, our friends at Vehicle for Change have invited us to experience what it means to be unreasonably hospitable in a different way.

Join for a car giveaway and plan to bring gifts for the blessed family. We will fill their trunk with good things to send them home in style and ease.

More details soon!

CULTURE

Mother’s Day is Three Days Away

A woman named Ann Jarvis created Mother’s Day in 1908, and it became an official US holiday in 1914. Of course, eventually, it was taken over by card, flower, and jewelry companies, leading Ann to try removing it from the calendar.

Now, the day is recognized across the world in various forms and on various dates.

The traditional gift was white carnations, Ann’s mother’s favorite gift. On the first celebration of the day in 1908, Ms. Jarvis delivered over 500 flowers to mothers to honor the sacrifices they made for their children.

There, now we all learned something AND are on the same page that if you celebrate this holiday, you are almost out of days to make a plan, draw a card, or drop some serious cash on the moms in your life.

Quick Hits

• Amazon Prime Video will add ads for Amzaon products to video pause screens. 🙄

• Oil prices rise as crude stock falls in the US.🛢

• A new comedy set in the same world as “The Office” is coming. 📄

History

• 1969: GM announces the end of Corvair. 🚙

• 1994: Nelson Mandela is chosen as South Africa’s first Black president. 🗳

• 2020: The COVID-19 recession causes the U.S. unemployment rate to hit 14.9 percent, its worst rate since the Great Depression. 📉

Thanks for reading, friend! We will be right back here tomorrow