🚗 Credit Tightens

TOGETHER WITH

It’s here!

Today, dealers, collaborators, and automotive fanatics from around the WORLD will begin converging in Maryland for ASOTU CON 2025.

Keep an eye on LinkedIn and check in with the daily email this week for content from the ground.

Keep Pushing Back,
-Paul, Kyle, Chris & Kristi

_{Was this email forwarded to you? Subscribe here!
Reading time: 3 min and 46 sec}

THE NEWS

News to Know

🚚 Slate’s $20K EV Pickup Hits 100K Reservations

Customizable cheap EV truck? America said “Yes, please.”

Slate Auto just hit 100K reservations for its $19K-ish electric pickup (after tax credit). The kicker? It took two weeks—and just a $50 refundable deposit. Bezos-backed, startup-hyped, and promising to churn out 150K trucks a year by 2027, Slate’s making noise. Bonus: the truck morphs into an SUV (Transformer style).

Dealer Download:

• Could undercut everything in the entry-level space—if they actually build it.

• Don’t bet the farm yet; we’ve seen this movie (Lordstown, Fisker… anyone?).

• Keep an eye out, especially if you're in the budget truck game.

🔧 Nissan’s Job Cuts Might Double

5.4% sales bump, $5.3B loss—now that’s a party trick.

Nissan may axe 20,000 jobs globally—twice what they originally said. Losses are stacking, and incentives are doing the heavy lifting in U.S. showrooms. Meanwhile, their “sell at a loss, win a bonus” Nissan One program is still live.

Dealer Download:

• Expect short-term chaos = factory delays, tighter allocations.

• More spiffs are likely—but margins might vanish in the process.

• Nissan store? Buckle up.

📉 April Credit Access: Tighter, But Not Terrible

More approvals, but subprime? Not invited.

Dealertrack says April’s credit index dipped slightly. Approvals rose, but subprime lending fell off a cliff. Captives pulled back hardest; auto-finance cos opened up (just a smidge).

Dealer Download:

• Fewer subprime approvals = tougher closes.

• Longer terms creeping up = shoppers stretching budgets.

• Train up F&I—every basis point counts.

🏭 BYD’s Brazil Factory Hits the Brakes

Labor probe + tropical rain = 2026 launch.

BYD’s Brazil gigafactory won’t be fully running until late 2026. The EV giant will start with imported kits next year. Goal: 150K EVs annually, built on former Ford turf.

Dealer Download:

• No U.S. ripple yet, but BYD’s long game is real.

• Watch their battery moves—they’re locking up lithium like it’s gold.

🇺🇸 Ford’s Employee Pricing Works—But Tariffs Are Creeping In

150K cars sold since April. God bless America… and discounts.

Ford’s “From America, For America” deal = employee pricing for all. But incoming tariffs mean price hikes are hitting Mexico-made models (Maverick, Bronco Sport) soon.

Dealer Download:

• Sell the patriot deal hard—through July 4.

• Push now, price hikes land by late June.

• EV buyers? Free charger + 8-year battery = tasty close.

🥊 Quick Hits

• China and the U.S. announce a trade deal. 🇨🇳 

• McDonald’s is looking to hire 375K more people. 🍔 

• Ransomware is growing stronger and more dangerous. 🦠 

TOGETHER WITH SPACE AUTO

How Dealers Actually Sell Cars

Let’s be honest…

Dealers don’t need another tool.

They need a better way to actually sell cars. Enter Space Auto: the unified platform that wraps your website, digital retail, and CRM into one sleek, lightning-fast package. Fewer plugins, more deals, happier customers. It’s giving ease, speed, and control, and it’s giving dealers their time back (like, 2.3 hours per day).

We’re hyped to have Nick Askew, John Sukowaty, and Michael Wood joining the “SEO to GEO” panel at ASOTU CON 2025 to break down what really drives traffic and conversions.

Don’t miss it:
Studio One
Day 2: May 15, 2025 @ 1:45 pm - 2:15 pm

This ain’t theory. It’s what’s next.

TECHNOLOGY

The 88% Problem

David Steinberg returns with the data-driven truth bomb that 88% of your leads might be telling you something you're ignoring—and it's costing you more than sales.

David Steinberg is back—and he’s not holding back. From his childhood days as a SAG card-carrying actor to founding FourEyes, David brings a mix of storytelling charm and ruthless data clarity to this episode. He dives deep into why dealers are drowning in leads but still missing sales, how bad CRMs are sabotaging great salespeople, and why marketing might be the most over-served segment in auto retail.

The conversation unpacks the dangerous comfort of “cherry-picking” leads, the myth that more traffic solves sales slumps, and the growing power of consumers in a reputation-driven market. With smart takes on AI, CRM failures, and why your sales process matters more than your ad budget, David makes it clear: the water’s rising in automotive retail, and it’s time to fix the foundation.

🔁 Today in History

• 1986: The Jeep Wrangler goes on sale. 🪖 

• 1950: The inaugural Formula One World Championship race takes place at Silverstone Circuit. The race was won by Giuseppe Farina, who would go on to become the inaugural champion that year. 🏎️ 

• 1958: Ben Carlin becomes the first (and only) person to circumnavigate the world by amphibious vehicle, travelled over 11,000 miles by sea and 39,000 miles by land during a ten-year journey. 🐸