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- 🚗 August Auto Sales Surge, Ram's EV Launch, and Rising Auto Loan Concerns
🚗 August Auto Sales Surge, Ram's EV Launch, and Rising Auto Loan Concerns
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📈 August Auto Sales Surge, Ram's Electric Revolution, and Rising Auto Loan Concerns
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Used retail vehicle sales surged in August, hitting their highest level since October 2021, with 1.7 million units sold—a 13.6% year-over-year increase. Notably, there was a rise in vehicles priced under $15,000, making used cars more accessible to buyers.
Ram's first electric pickup, the 1500 REV, is set to arrive at U.S. dealerships in early 2025. It boasts two battery options, up to 500 miles of range, and can handle 14,000 lbs of towing. Prices will start at over $60,000.
Auto loans have surpassed student loans in total volume, with delinquencies nearing 2009 levels. Although new car prices average $47,870, rising incentives and higher interest rates (7.24% for new, 7.49% for used) are reshaping the market.
Read the full digest here. (Read time: 2 mins 26 secs)
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🤑 Tariffs: EU, China, and U.S. Take Different Roads
Tariff talks between the EU, China, and the U.S. are shaking up the global auto industry, especially in the EV market. With the EU’s proposed tariffs on Chinese EVs, Italy's support, and the U.S.'s steep tariffs on imports, tensions are running high. What’s the impact on automakers and supply chains? Some analysts suggest collaboration, but current policies say otherwise. The next steps could change the game for U.S. auto retailers.
Read the full article (read time: 2 mins 9 secs) on Daily.ASOTU.com for a deeper breakdown of these developments and their implications for the industry, country, and your team!
🤖 AI: Innovations, Health Applications, and Ethical Debates
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Slack is adding AI bots to its workspace, integrating agents from top companies.
In healthcare, Toronto’s Chartwatch AI slashed unexpected hospital deaths by 26%. Billionaires are shifting their investments toward diversified AI tech funds, and global scientists are calling for AI regulation.
AI models continue transforming sectors from healthcare to finance.
Plus, ethical considerations and future developments like sustainable AI and neuromorphic tech are heating up. Curious for more?
Read the AI rundown here. (Read time: 2 mins 44 secs)
AROUND THE ASOTU-VERSE
Coming Soon
🤠 November 5-8th — Opening presenters at the 2024 ATAE PR & Communications Focus Group Meeting in Austin, Texas.
⚜️ January 23-26th, 2025 — NADA Show in New Orleans.
🦀 May 13-16th, 2025 — ASOTU CON in Baltimore, Maryland.
🎧 In The Dirt w/ Jay Petznick
He knows there is a time and place for AI within automotive retail.
With some dealers not wanting AI to make final decisions for their sales staff, there are ways to optimize connecting customers directly to the sales staff faster.
Jay Petznick from Optimy.ai shares current trends on website lead connection rates as well as how where dealers should be using AI to improve their efficiency.
Quick Hits: Lettuce, Jets, and Wordle
Scientists have genetically engineered “Golden Lettuce” with 30 times more beta-carotene, boosting its nutrients and turning the leaves a striking yellow color. 🥗
Boeing freezes hiring and jet orders amid a machinist strike, risking debt downgrade. A 30-day strike could cost the company up to $1.5 billion. 🥶
Wordle now has a native app for Meta Quest headsets, allowing players to enjoy the game in virtual reality with its familiar gameplay. 🥽
Today in History: Freedom, NASA, and $500K
1849: American abolitionist Harriet Tubman escapes from slavery.
1976: NASA publicly unveils its first space shuttle, the Enterprise.
2013: Grand Theft Auto V earns more than half a billion dollars on its first day of release.
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