#685 - 🚗 Full Throttle

Day One, Biz Buzz, and Special Speakers

TOGETHER WITH

It’s officially the first full day of ASOTU CON 2024, and we’ve got a stellar line-up today! From speakers to experiences to snacks, we’ve got it covered, and we can’t wait to share it with all of you.

Let’s go!!

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

Was this email forwarded to you? Subscribe here!
Reading time: 3 min and 33 sec

AROUND THE ASOTU-VERSE

Day One

We have so many incredible sessions and speakers today that it’s too many to even list. Check out the detailed agenda here for the complete line-up!

. . .

And, don’t miss your opportunity to meet with some of the best partners in the business.

Take a stroll through our Conversation Hall to say “hi,” or grab the app and navigate to the Collaborator’s page to set up a one-on-one meeting.

TOGETHER WITH TVI MARKETPRO3

Experience the Transformation

TVI MarketPro3 will be showcasing their revolutionary strategies for enhancing dealership operations tomorrow at ASOTU CON. As featured speakers, they will share their proven methods that have increased service appointments and slashed customer acquisition costs.

By leveraging dealers' DMS data, they target three key audiences: Inactive Customers, Lost Customers, and New VIN Customers, going beyond the standard ho-hum programs to directly engage these key demographics where they’re at. Their unique approach not only brings the right customers through your doors but also significantly improves customer and vehicle service experiences, fostering stronger loyalty and retention.

Attendees will also get an in-depth look at RecallCheck, TVI MarketPro3’s innovative platform that simplifies recall management, enhances customer safety, and boosts compliance rates.

Schedule a demo today, or don’t miss an opportunity to meet with TVI MarketPro3 at ASOTU CON!

BUSINESS

Data and News

We've got some data, some robo-taxi drama, and Tesla catching some more friction.

Friction isn't really something you "catch". It's more like something that happens over time when you refuse to stop catching things.

--

Prices Up, Incentives Down?

After three months of declines, new-vehicle prices increased in April, according to Kelley Blue Book estimates.

  • April Increase: New-vehicle average transaction prices (ATP) rose by 2.2% to $48,510, the highest since December 2023.

  • Incentives: Fell to 6.3% of ATP, down from 6.6% in March, but 80% higher year over year.

  • Tesla Prices: Stabilized and rose by 5.7% month over month, but remained over 3% lower year over year.

  • Inventory Levels: Increased by 46% year over year, maintaining downward pressure on prices.

  • Luxury Vehicles: Accounted for 18.4% of new-vehicle sales, with prices up 2.4% month over month but down 2.1% year over year.

  • Non-Luxury Vehicles: Prices increased to $44,989, up 2.1% from March but nearly flat year over year.

  • Pickup Trucks: Notably higher prices, with full-size pickups averaging $66,631, up 2.8% year over year.

  • Electric Vehicles: Prices were flat at $55,252, down 8.5% year over year. High-profile EVs like the Ford Lightning and Tesla Model Y saw significant price reductions.

  • Expert Insight: Erin Keating of Cox Automotive noted the price increase is likely due to reduced incentives post-Q1, but affordability challenges persist.

Waymo has 17 Wrecks

U.S. auto safety regulators have launched an investigation into Alphabet's Waymo self-driving vehicles due to reports of "unexpected behavior" and traffic safety violations. 

The probe follows 22 incidents, including 17 collisions, involving Waymo's estimated 444 autonomous vehicles. NHTSA aims to assess the performance of Waymo's 5th Generation automated driving system, focusing on its response to traffic control devices and avoidance of collisions. 

Hey, after 17 wrecks, we took Grandpa’s keys away.

Waymo maintains its commitment to safety, noting its extensive record of autonomous miles driven. This investigation follows similar probes into GM’s Cruise and Amazon's Zoox.

Tesla Goes Back To Court

Yeah like Jordan in his prime, Tesla is going back to court. 🏀

Tesla is being sued over air pollution at its Fremont, California, factory, and it is alleged that it violated the Clean Air Act.

  • Plaintiff: Environmental Democracy Project

  • Accusations: Ongoing failure to comply with the Clean Air Act; violations since January 2021.

  • Pollutants: Emissions include nitrogen oxides, arsenic, and cadmium.

  • Bay Area Air Quality Management District: 112 violation notices since 2019.

  • EPA Fine: $275,000 in 2022 for emission tracking failures.

  • Other Lawsuits: 25 California counties on hazardous waste; settled earlier this year.

  • CEO Elon Musk: Focus on autonomy and AI over environmental issues.

Not to heap on the rough news, but...  Data show Tesla's Full Self-Driving trial saw only 2% of users purchasing it despite a price cut from $12,000 to $8,000 or $99/month.

--

That's the Biz for today, friend. With day one of ASOTU CON content ahead of us, we will drop you some front-row content in tomorrow's email, along with the usual market digest we always gather. 

Quick Hits

  • Eight TikTok content creators are suing the U.S. government over the new federal law that could ban the platform. ⚖️

  • Google announces its most powerful AI models as competition from OpenAI heats up. 🤖

  • San Francisco poised to become first U.S. city to ban “forever chemicals” in firefighter gear. 👨‍🚒

History

  • 1862: U.S. Department of Agriculture created. 🌱

  • 1869: National Woman Suffrage Association forms in New York, founded by Susan B. Anthony and Elizabeth Cady Stanton. 🚺

  • 1928: Mickey Mouse makes his first ever appearance in silent film "Plane Crazy.” 🐭

Thanks for reading, friend! We love what we do, but we couldn’t do it without all of you.