🧽 Dirty Cars and Milestones

The Gist

EV ambitions are hitting reality checks. GM’s 300,000 EV sales milestone is bittersweet as they ditch CarPlay, risking backlash. VW faces a “perfect storm” with profits down 63.7% and talks of pay cuts and plant closures on the table. Ford leans into American-made with BlueOval Battery Park, aiming to bring battery costs down but slowing F-150 Lightning production as EV sales dip. Meanwhile, Rolls-Royce debuts its $420k electric Spectre, and Costco sweetens the deal for EV buyers with up to $2,000 discounts.

BUSINESS

General Motors

🚫 GM's Bold Move: Bye Bye CarPlay

GM believes ditching Apple CarPlay will lead to a superior, integrated user experience—but will drivers agree?

GM's SVP Baris Cetinok is leading the charge to replace CarPlay with GM’s own Ultifi software, a move aimed at giving GM full control over in-car experiences. Many loyal CarPlay fans may need some convincing.

Points:

• Ultifi Platform: GM’s in-house alternative to CarPlay, focusing on user-controlled data and customization.

• Model Impact: Most EVs starting from 2024 won’t have CarPlay or Android Auto.

• Consumer Reaction: Mixed—some loyal users threaten to skip GM’s EVs without CarPlay integration.

🪨 Milestone for GM: 300,000 EV Sales!

 GM hits a sales milestone in the U.S., setting a record with its extensive EV lineup.

GM’s EV strategy is paying off, with the company reaching over 300,000 EVs sold in the U.S. since 2016. With models ranging from the luxurious Cadillac Lyriq to the affordable Chevy Equinox EV, GM is appealing to a broad audience, aiming to rival Ford and Tesla.

• 2024 Q3 EV Sales: 32,095 vehicles, putting GM in the #2 spot behind Tesla.

• Popular Models: Chevy Equinox EV (starting at $35,000) and Silverado EV (hitting dealerships soon).

• Future Plans: Introducing Cadillac OPTIQ, Escalade IQ, and a new Bolt lineup next year.

Ford

🇺🇸 Ford Leads the Charge with American-Made EVs

With new investment in Michigan’s BlueOval Battery Park, Ford brings affordable, domestically-produced batteries to life.

Ford is betting on American manufacturing with its BlueOval Battery Park, slated to produce lithium iron phosphate (LFP) batteries by 2026. The investment not only bolsters U.S.-made EV components but also creates over 5,000 jobs, showcasing Ford’s commitment to community and sustainability.

• Battery Production: LFP batteries for Mustang Mach-E and F-150 Lightning.

• Eco Commitment: Conserved 245 acres along the Kalamazoo River.

• Impact: Ford’s efforts align with new federal tax incentives favoring U.S.-made EVs.

📈 Ford Sales Surge Post-Strike

After last year’s labor strike, Ford sees a 15.2% jump in vehicle sales, led by hybrids as EV sales temporarily slow.

Ford’s October sales saw a significant rebound following the UAW strike in 2023. Trucks lead the surge, with hybrids rising sharply as demand for full EVs slowed slightly, showing Ford’s strategy of balanced offerings may be paying off.

• October Sales Increase: 15.2% overall.

• Hybrid Popularity: Hybrid sales jumped 38.5% year-over-year.

• EV Slowdown: EV sales dipped by 8.3% in October but remain up for the year.

💸 Costco’s EV Deal Bonanza: Up to $2,000 Off!  

Costco steps up with EV and PHEV discounts for its members, marking a clear response to increasing demand.

Costco’s Auto Program now offers up to $2,000 off on select EVs and PHEVs, including models from Cadillac, Chevrolet, and Volvo. With member interest in EVs up 31% from last year, Costco's deal aligns perfectly with the growing market.

• Top Discount: $2,000 on the U.S.-made Polestar 3.

• Popular Models: Chevy Blazer EV, Cadillac Lyriq, and Volvo XC40 Recharge.

• Savings Window: Valid through January 2, 2025.

🌌 Rolls-Royce Spectre: Luxury Redefined

Rolls-Royce dives into the EV world with the Spectre, delivering the most opulent (and quietest) electric experience to date.

The $420,000 Rolls-Royce Spectre turns heads not only for its price but for its near-silent luxury and iconic “alien” sound when accelerating. The Spectre boasts a powerful 577-horsepower engine and 266 miles of range, wrapped in unparalleled luxury.

• Key Features: Soft lambswool mats, ambient lighting, and 23-inch wheels.

• Tech Integration: Custom infotainment, Apple CarPlay (though Android Auto can be hit or miss).

• EV Future for Rolls-Royce: Spectre is the first of many, with all-electric models expected by 2030.

🌏 BYD’s Hiring Spree: China’s EV Giant Expands

BYD hires nearly 200,000 employees as it surges past Tesla in revenue and sets new sales records.

Data

• Record Sales: 1.1 million new energy vehicles sold in Q3.

• Revenue Surge: $1.6 billion in profit on $28.2 billion revenue.

• Global Expansion: Plants opening in Thailand, Hungary, Turkey, Brazil, and Mexico to meet growing demand.

Implications?

As BYD expands internationally, it’s becoming a formidable competitor in the EV market, particularly in emerging markets where affordable EV options like BYD’s Seagull (under $10,000) have immense appeal.

Volkswagen

🌱 VW’s Electric Dilemma: Can Going Green Be Too Dirty?

Volkswagen’s pure-EV strategy is raising emissions concerns, ironically making some of its models "dirtier" due to lack of hybrid options.

VW’s strategy to skip hybrids and go fully electric is backfiring.

The popularity of gas-powered SUVs grows. With hybrids missing from the U.S. lineup, the pressure on VW’s EV offerings is immense, but sales are lagging. Without hybrids to balance out emissions, VW is in a Catch-22: sell fewer vehicles or pay huge penalties for exceeding CO2 limits.

• Sales Impact: ID.4 sales are down, while SUVs like Atlas and Tiguan are up.

• CEO's Concern: VW of America’s CEO Pablo Di Si faces pressure to deliver, potentially risking his role.

• Timeline for Hybrids: VW hybrids may not reach the U.S. market until 2027, adding to the urgency.

🏚️Volkswagen’s Crisis: 'Decades of Issues'

VW CEO Oliver Blume tackles rising costs, low sales, and a push toward massive restructuring.

Facing a 63.7% drop in Q3 profits, VW is under pressure to cut costs and restructure operations. VW's CEO blames the slump on “decades-long structural issues” and soaring labor expenses in Germany, with possible pay cuts and plant closures on the table.

Is VW's future really on the chopping block?

Blume hopes not, but without drastic cost-cutting and productivity gains, VW's viability could be threatened by a “perfect storm” of issues, from labor costs to electrification hurdles.

🔥 Toyota & Honda: The Resale Value Kings

Toyota and Honda continue to dominate in resale value, but could this strength eventually hold them back?

Known for reliability and longevity, Toyota and Honda vehicles consistently top resale value lists. Yet as the industry rapidly shifts toward electrification and innovation, these stalwarts may need to evolve faster to keep up with the competition.

• Resale Awards: Toyota and Lexus lead for mass-market and luxury categories.

• Customer Demand: High demand keeps resale values high.

• Future Outlook: As other automakers innovate aggressively in EVs, Toyota and Honda may need to increase investment to stay competitive in the changing landscape.

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