#709 - 🚗 Hope and Action

TOGETHER WITH

Sometimes, the soil isn’t ready to support your dreams. You may have luck breaking it down into something more useful, but it’s a lot less work and more sure results to build it up.

People are the same.

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

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BUSINESS

News Bingo

Well, today's BIZ section is touching all over the news BINGO cars.

We got budget-friendly EVs, labor victories, possible union scandals, corporate maneuvering, V-12s, and fake engine noise.

If you have a BINGO at the end, please see Chris or Kristi after class, and we will get your ring pop.

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$25K Jeeps?

Stellantis CEO Carlos Tavares announced plans for a $25,000 all-electric Jeep in the U.S. "very soon." This addition addresses the scarcity of affordable EVs, which has slowed EV adoption in America. Jeep's first fully electric vehicle, the Wagoneer S, currently starts at $70,200. Introducing a low-cost Jeep EV will broaden options for budget-conscious consumers and promote wider EV adoption.

UAW: Deals and Thrills

Ultium Cells and UAW Local 1112 reached a historic tentative agreement in Lordstown, Ohio, marking a breakthrough for electric vehicle workers. This agreement, following last year's UAW master agreement, aims to double wages and improve safety for battery workers. UAW President Shawn Fain praised the deal as a significant step in ensuring a fair transition to electric vehicle production.

Meanwhile, in a plot twist worthy of a thriller, UAW President Shawn Fain is under investigation by a federal monitor for potential abuse of power in violation of a 2020 consent decree with the DOJ. The investigation accuses Fain and other union leaders of obstructing the monitor's access to information. Despite the scrutiny, Fain emphasized the union's commitment to transparency and better serving its membership.

GM Stock Buyback

GM announced a $6 billion share buyback plan following first-quarter solid results and an improved annual forecast. The decision follows a $10 billion stock buyback announced in November after a new labor agreement with the UAW.

• CFO Paul Jacobson emphasized the profitability of GM's gas-powered vehicle business and growth in its EV sector.

• No specific timeframe was given for the buyback, allowing GM to repurchase shares opportunistically.

• GM shares rose 1.8% in early trading despite pressure from a UAW strike and issues with its Cruise unit.

• Shares have increased by about 50% since the November buyback announcement.

• GM raised its dividend by 33% to 12 cents per share in January, and rival Ford committed to significant returns to investors.

Ferrari: Techno Outlaws?

Ferrari is living on the edge, vowing to keep its iconic V-12 engines alive until they're banned. The new 12Cilindri Coupe and Spider boast a 6.5-liter engine capable of hitting 10,000 rpm, ensuring enthusiasts get high-octane thrills. Despite the turbocharged V-8 being more efficient, Ferrari fights for the V-12, prioritizing emotion over practicality.

In contrast to its V-12 devotion, Ferrari also embraces the future with plans for its first electric vehicle by 2025. Promising an "authentic" sound, Ferrari's EV aims to evoke unique emotions while steering the brand into the techno realm. By 2026, Ferrari expects EVs to comprise 40% of its sales, navigating a path between tradition and innovation.

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So, what do you think? Are Stellantis's affordable electric Jeeps going to bring us into the glory days of Power Wheels, or will Ferrari's outlaw V-12 keep people dreaming of burning gas and kicking... "grass?"

Grab the talking stick, and let us know what today's news has you thinking! 

TOGETHER WITH UPSTART

Cracking the Code

What is Ron Bouchard Auto Stores’ secret to their salespeople each selling 4-5 more cars per month?

Connected Retail + AI-Powered Financing.

After rolling out Upstart’s online and in-store digital retail in their Kia store, the group launched Upstart in their Honda, Nissan, and Acura stores.

But the real magic? They launched AI-Powered Financing, which has led to faster and more affordable financing for their customers.

“We’re speeding up the financing process and creating a better process for our sales managers and customers,” said Chad Bouchard, GM at Ron Bouchard Kia and Honda.

Check out the full case study here, or book a demo with Upstart today.

MORE THAN CARS MOMENTS

Hope and Action

We love big stories, we love small stories, but our favorite may be the small stories that lead to something massive.

Alex Scott, who lives in Northern Virginia, has spent part of his 52 years battling cerebral palsy and liver cancer. Despite these hardships and being confined to a window seat, Alex loves cars.

His sister, Samantha, wanted to bring joy into her brother's life, so she made a Facebook post asking for people with sweet rides to cruise by Alex's window so he could see, hear, and feel the wonderful machines he loves.

Her post went viral, and her request was overwhelmingly fulfilled. Local car clubs, the sheriff's office, and collectors showed up for the parade, honking in support of Alex, honoring his strength, and encouraging him for the days ahead.

This is a wonderful story of a little hope and action growing into a compassionate opportunity for the whole community.

AROUND THE ASOTU-VERSE

Webinar: June 26th

Quick Hits

• Elephants have names. Wow wee. 🐘 

• Apple says AI is coming to its devices, and the market reacted favorably. This makes sense since it is Apple's first new idea since putting a phone in your iPod. 😜 

• A new Dragon Age game is coming, but seems to have learned some tricks from the wildly popular Baulder’s Gate 3 experience. 🐲 

History

• 1935: At age 17, Ella Fitzgerald records her first songs - "Love and Kisses" and "I'll Chase the Blues Away." They came to be big hits for her. 🎼 

• 1942: Anne Frank receives a diary for her thirteenth birthday. 📖 

• 1971: The last Lincoln Mark III. 🫂 

Thanks for reading, friend! How is it only Wednesday? Seems like this time last week it was already this week. Time is weird.