- ASOTU Daily Pushback
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- 🚗 Labor Strikes Loom
🚗 Labor Strikes Loom
🚙 UAW Puts on the Pressure, Wall Street Wobbles, and State of the Market
TOGETHER WITH
Friday and we have plenty to check out.
Have a look over the email, check out some podcasts, and then… come work with us?
Keep Pushing Back
-Paul, Kyle, Chris & Kristi
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Today's Email
🆕 So Much News: China, Labor Tensions, and the EV Race
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Today's auto news is jam-packed. Ford's CEO Jim Farley sounds the alarm on Chinese EV makers, calling them an "existential threat."
While Ford scrambles to develop a new affordable EV platform, Kia is thriving in China, with its $21,000 EV5 crushing sales and expanding into new markets.
Meanwhile, Chinese automaker NIO is eyeing Volkswagen's Brussels plant, signaling a potential shift in Europe's auto landscape.
On the labor front, the UAW is turning up the heat on Ford and Stellantis with strike deadlines over contract disputes.
And let’s not forget BMW's new partnership with Redwood Materials for EV battery recycling—it’s all about sustainability.
We’ve got the scoop on these key stories and more industry shake-ups.
Want more on these and so many more stories? Click here (Read time: 4 mins 25 secs)
What Book Does TradePending Use?
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The question “What book does TradePending use?” is one the company hears frequently, and it comes from an honest place: people thinking that car values can only come from books of various colors.
Spoiler alert: TradePending doesn't use books.
If they don't use books, how do they value cars? Here are five things they do differently.
🎢 Wall Street Wavers After Fed's XL Rate Cut
Tenor
Despite some market jitters, there’s no sign the bull market is losing steam anytime soon. Growth scares, coupled with election uncertainties, may cause more volatility in the short term, but the bigger picture remains encouraging.
Inflation Eases, but Not Without Hiccups — Inflation has cooled significantly from its 2022 peak, holding steady at 3.2% in the latest report. Most of the recent stagnation comes from rising shelter costs, though other categories like used vehicles and home furnishings saw price declines.
Markets Look Beyond Near-Term Noise — Despite inflation-induced market dips, stocks remain near all-time highs, with investors largely viewing pullbacks as buying opportunities.
Edward Jones / FactSet
The S&P 500 hit an all-time high of 5,678 right after the Fed’s half-point rate cut announcement on Wednesday, but the excitement was short-lived as the market seesawed before closing slightly lower.
Mixed Reaction — Chair Jerome Powell defended the cut as sensible both economically and for risk management, while Michelle Bowman’s dissent signaled ongoing debate within the Fed itself.
Foggy Future — Though interest rates are expected to drop to 3.4% by the end of next year, the unpredictability surrounding future cuts is fueling market volatility.
AROUND THE ASOTU-VERSE
Coming Soon
🤠 November 5-8th — Opening presenters at the 2024 ATAE PR & Communications Focus Group Meeting in Austin, Texas.
⚜️ January 23-26th, 2025 — NADA Show in New Orleans.
🦀 May 13-16th, 2025 — ASOTU CON in Baltimore, Maryland.
🎧 New Wheelhouse Just Dropped
Could your dealership be missing out on a quarter of potential sales?
We've got loads of tactical insights on this episode of the Wheelhouse, hosted by the one and only Daniel Govaer.
Quick Hits: Tax Credit, Baby Hippo, and Spooky Nostalgia
A new rule proposed by the Treasury Department would deliver to businesses up to $100K in tax credits for each EV charger installed. 🔌
An adorable baby pygmy hippo in Thailand named Moo Deng has quickly become a viral sensation. 🦛
Need to renew your passport? The U.S. Department of State finally made it easier with its online passport renewal system. 🛂
Spooky nostalgic gamers rejoice! Silent Hill 2’s remake has a new trailer and its quite satisfying. 🌫️
Today in History
1814: The "Star-Spangled Banner" is published as a song (lyrics by Francis Scott Key, composition by John Stafford Smith). It wouldn’t be until 1931 that it was adopted as the American national anthem. 🇺🇸
1848: The American Association for the Advancement of Science is founded. 🧪
1969: “Sugar, Sugar” (recorded by The Archies, a fictional bubblegum pop band from the Archie Comics) hits number one on the Billboard charts. 🍭
Thanks for reading! Friday is a great day to make a playlist. Just let everybody in your store add an album and play that bad boy on random. Team building.
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