🪲 Beetles and Beatles

TOGETHER WITH

What a night!

Last night, hundreds of people descended on Buckhead Theatre in Atlanta to celebrate the industry with us. We had people that had been in the industry from 3 weeks to 45 years! We even had a 15 year technician veteran on stage 💪.

We are streaming the show today on LinkedIn and YouTube at 1p EST/10a PST. Join us in the chat for some laughs and learning!

Keep Pushing Back-
Paul, Kyle, & Chris

DEALERS

Filling Monroe’s Food Pantry

CR Chrysler Dodge Jeep Ram of Adrian in southeast Michigan is supporting the Oaks Village Food Pantry in Monroe through a unique initiative.

The food pantry has seen a dramatic increase in demand, giving away more than 2,000 boxes of food in just two months, compared to their previous average of 100 boxes per month. As the school year ends, they are particularly concerned about children going hungry without access to free breakfast and lunch programs.

So, the pantry issued an urgent call for help on social media and the dealership moved quickly to incentivize community involvement. They set up a food drive and organized a contest where donors could win tickets to a Detroit Tigers baseball game.

Driven by compassion and a desire to make a difference, Jessica Liner, a dealer at CR Chrysler Dodge Jeep Ram, felt a personal connection to the pantry's plea for assistance. Having witnessed first-hand the hardships faced by others during the pandemic, she wanted to ensure people have access to the food they need. Liner hopes her team’s efforts will inspire others to join in and extend a helping hand.

Telling it like it is – No one is at their best when they’re hungry, but the power of community and compassion can make all the difference for those in need. ❣️

AUTOMOTIVE

New Cars Are Cheaper, Leasing EVs is Even Cheaper

New vehicle prices in the US remained below the Manufacturer's Suggested Retail Price (MSRP) for the fifth consecutive month in May 2023, averaging $48,528. This price is $410 below the sticker price, while a year ago, the average price was $637 above the MSRP. The average transaction price of a new vehicle increased 0.5% month-on-month and 3% year-on-year. Auto manufacturers' incentive spending also rose, averaging $1,914.

Meanwhile, the popularity of leasing battery-electric vehicles (BEVs) has surged, partly due to the introduction of a federal tax credit. Any leased BEV qualifies for the tax credit, which the lessor must pass on to the consumer. The rate of leased BEVs rose from 10% in December 2022 to 41% in April 2023. This trend may increase as BEVs become more affordable, opening the door for those who previously couldn't afford them.

Telling it like it is – It feels like 8 minutes ago leasing was at risk due to shifting prices. Now this. It all just proves change is the only constant, y’all.

TOGETHER WITH VUMO

The Future is Coming

Even if we try to stay put, the future comes to us. Best to be ready.

Step boldly into the future with VUMO, a revolutionary partner for auto dealerships. Their hardware and robotic AI-driven imaging and inspection solutions deliver quality results when you need them - every time!

Tired of waiting for your photo provider to show up? Take back control of your online inventory with VUMO. Join dealers like you who are already saving money and increasing quality with VUMO by automating their vehicle inventory imaging with the most efficient automation in automotive imaging.

Explore VUMO, schedule a demo, and prepare for the AI future before it arrives!

AUTOMOTIVE

Motor Morsels: High Point, 2000 hp, E-Beetle, and New Plant Who Dis?

Toyota's shares reached a 16-month high as shareholders endorsed the board and new EV strategy, retaining Akio Toyoda as chairman. Proposals for increased climate lobbying disclosures were rejected. Toyota plans to launch battery electric vehicles with "next generation" batteries by 2026, aiming to sell 3.5M all-electric cars annually by 2030.

Lotus is testing its Evija X prototype, a hardcore version of the Evija road car, on multiple racetracks. With a quad-motor electric powertrain boasting over 2000 horsepower, this all-new technology concept is speculated to be Lotus' attempt to set a new record on the Nürburgring. The vehicle, featuring an advanced aerodynamic package, may herald a future electric race car or a limited edition track-only Evija X.

Volkswagen aims to realize $10.83B in savings and cost-cutting measures by 2026 to reach a return on sales target of 6.5%. The carmaker teases the possibility of an electric revival of its iconic Beetle model. CFO Arno Antlitz highlighted a focus on profitability, cash flow, production efficiency, and product range streamlining across brands, including Volkswagen, CUPRA, Skoda, and SEAT.

Ford has opened its Cologne Electric Vehicle Center in Germany, an essential step in its goal to make all passenger vehicles in Europe electric by 2030. The renovated plant, funded by a $2B investment, will produce Ford's new all-electric Explorer and a sports crossover, with a capacity of 250,000 annual EVs. Ford aims to sell over 600,000 EVs in Europe and 2 million globally annually by 2026.

TL; DR – Toyota hits a high, Lotus gets hardcore, VW is pinching pennies, and Ford goes to Germany.

CULTURE/TECHNOLOGY

A New Beatles Song?

In a surprising twist that will make even the most die-hard Beatles fan cheer, Paul McCartney has revealed that he's harnessed the power of generative AI to bring his band back together for one last hurrah.

The legendary bassist spilled the beans during a recent interview with BBC on how he used AI to recreate the voices of his late bandmates, John Lennon and George Harrison, as well as making his own voice sound younger. The technology was used to expertly “extricate" Lennon's voice from a demo track that was featured in the 2021 documentary, “The Beatles: Get Back.”

Referring to the AI track as the “final” song from the Beatles, McCartney said he plans to release it later this year.

Telling it like it is – The Beatles continue to transcend time, proving that even in the digital age, all you need is love (and, maybe a little computational magic). 🤖

Quick Hits

• Microsoft-Activision merger finally cleared it through the UK just to be temporarily blocked by a US Judge. 🙅‍♂️

• Octopuses can tweak the RNA in their brains to adjust to warmer and cooler waters. 🐙

• Get ready to Netflix and grill! The streaming platform is opening its first-ever restaurant in Los Angeles called Netflix Bites. 🍴

History

• 1667: The first documented human blood transfusion is performed by French physician, Dr. Jean-Baptiste Denys. 🩸

• 1775: George Washington is appointed commander-in-chief of the Continental Army, the day after the US Congress establishes the force. 🎖️

• 1878: World's first moving pictures were captured on camera, using 12 cameras taking one picture each, to see if all four of a horse’s hooves leave the ground. 🐎

• 1994: Disney's animated musical film "The Lion King" opens in theaters. 🦁