#691 - 🚗 Lead With Purpose

TOGETHER WITH

We found ourselves talking quite a bit about leadership in today’s email and it got us thinking about the moments that define great leaders.

Often, it’s not just the big decisions, but the small, everyday choices that make the most impact.

Take time to remember the little things today, and as always…

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

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BUSINESS

Not So Sunny Headlines

It’s been a tough week for many automakers like Polestar, Fisker, and Ford due to struggles with things like funding, compliance, and policies. On the bright side, the week is almost over!

. . .

Polestar in Hot Water with Nasdaq

Polestar faces a potential Nasdaq delisting over delayed financial reporting. They’ve been given 60 days to submit a plan, or get the boot. 🥾

• Compliance Count-Down — The clock is ticking for Polestar to submit a plan and potentially secure an additional 180 days to comply with Nasdaq regulations.

• Reporting Delays — The delayed report is tied to correcting financial misstatements from 2021 and 2022, which they promise will be resolved in the 2023 report.

• Sales Slump — Despite a 40% drop in Q1 sales, Polestar is still banking on future deliveries of the Polestar 3 and 4 to help them recover.

Fisker’s End of the Road(side Assistance)

Fisker has decided to pull the plug on its roadside assistance program in the U.S., adding to a long list of woes for owners of the Ocean SUV. Their decision comes amid ongoing financial struggles and operational challenges plaguing the EV manufacturer. 🔌

• Cancel Culture — Fisker notified owners via email on Sunday that roadside assistance would no longer be available in the U.S. and urged them to seek alternative solutions. This comes on the heels of a similar move cutting service in Europe just a few weeks back.

• Money Troubles — The company has been facing significant financial difficulties lately including lawsuits, a recent bankruptcy of its Austrian unit, and production halts.

• Future Plans — Despite the setbacks and challenges, Fisker says it’s still expanding its dealership network and has seen a recent boost in sales after price reductions. While the company remains optimistic, others in the industry are already calling this the beginning of the end for the EV-maker.

Ford Advises Dealers to Take a Beat on EVs

Ford is recommending that dealers pause any investments related to selling electric vehicles until after they complete a review of the requirements in June. The decision comes as EV sales lag and dealer feedback rolls in. ⏸️

• Sales Stall — The company has faced hurdles like affordability issues, charging access, and supply chain delays, leading to a $12B cut in EV spending and a projected $5.5B loss for its EV division in 2024.

• Charging Station Standoff — Ford initially required dealers to invest in Level 2 EV charging stations by June 30th to sell EVs but has now postponed the requirement after putting a hold on their certification program for a review.

• Dealer Doubts — After hearing from more than a thousand dealers, Ford says it’s working diligently to re-evaluate its strategy to better serve both customers and dealers.

. . .

The only constant is change, so it’s important to remain fluid especially when the waters get turbulent. As a forgetful fish once said: “just keep swimming.”

TOGETHER WITH CARCUTTER

Picture Perfect

Buying a car online these days is a lot like using a dating app — first impressions matter!

85% of people agree that pictures are the most critical aspect of a profile. In fact, high-quality pictures in online dating lead to 49% more matches, and 48% more engagement as a whole.

Bad photos don’t work on dating apps, and they don’t sell cars. Your dealership’s online listings are more important than ever, and CarCutter is here to make sure they look the best they can, helping you stand out from the competition.

CarCutter uses AI to help make the most out of your vehicle listings, simplifying the process of capturing and showcasing professional-quality vehicle images with customizable 3D showrooms.

MORE THAN CARS MOMENTS

Leading the Way

When it comes to attracting and keeping top talent, having great leadership makes all the difference. Recently, Glassdoor released its first-ever list of Best-Led Companies, and two standout winners were Hendrick Automotive Group and Zeigler Auto Group.

The 50 businesses on the list were chosen based on CEO approval, management ratings, and leadership sentiment, highlighting companies where senior leadership truly puts work-life balance and people first.

Hendrick Automotive Group landed at 13th on the list. With nearly 11K employees spread across 131 retail franchises in 13 states, Hendrick is known for its supportive and inclusive work environment. They’ve got a solid 4.3-star rating on Glassdoor, and an impressive 84% of employees say they would recommend the company to a friend.

The Zeigler Auto Group came in at 30th with CEO Aaron Zeigler giving all the credit to their “amazing teams and leaders.” Based in Kalamazoo, Michigan, Zeigler runs 35 franchise dealerships and employs over 2K people. They’ve earned a fantastic 4.7-star rating, with whopping 96% of employees recommending the company.

A big congrats to Hendrick and Zeigler Auto Groups for their stellar leadership and continued success. Their commitment to creating positive and supportive work environments really sets the bar in our industry and we’re proud to call them pals. 👏

AROUND THE ASOTU-VERSE

Coming Soon

Mark your calendars, friends! 🗓️

We’ve already got dates secured for ASOTU CON 2025, right back at the Live! Casino and Hotel in Baltimore from May 12th-16th.

Our gears are already turning on how to bring our community even more epic conversations, connections, and collaborations next year, so save the dates and stay tuned! ⚙️

CULTURE

The General Lee Gets a Modern Makeover

Over the weekend, Kid Rock made a grand entrance at his annual Rock N Rodeo in a General Lee-styled Cybertruck while performing “Cowboy” alongside rapper, Jelly Roll.

Betcha never thought you’d read that wild abomination of a sentence, huh?

Driven by Bo Duke himself, actor John Schneider, some have described the spectacle as a “Dukes of Hazzard”-inspired fever dream with just a little Duke and whole lotta hazards.

Whether Mr. Rock owns the retro-futuristic ride or just borrowed it for the event is unclear, but one thing’s for certain: Kid Rock and Elon Musk are clearly soulmates in their absurdity and we’re here for it. Yeehaw! 🤠

Quick Hits

• Everyone’s favorite pineapple-dwelling sea-sponge is getting a Crocs collab. 🧽

• OpenAI pulled one of the voice options from its ChatGPT-4o assistant following accusations that it resembled Scarlett Johansson’s voice in “Her.” 🤖

• After an overwhelmingly positive reception at this year’s Sundance Film Festival, a new documentary titled “Super/Man: The Christopher Reeve Story” is set to premiere in theaters this Fall. In a related story, the premiere date for our own documentary titled “Super/ManMythLegend: The Christopher Reeves Story” is still tbd. 🦸‍♂️

History

• 1803: The first U.S. public library opens in Connecticut. 🤫

• 1906: The Wright Brothers are granted a patent for their "flying machine.” 🛩️

• 1980: The video game Pac-Man, created by Toru Iwatani, is first released in Japan. 🕹️

Thanks for reading, friend! Just in case you don’t hear it enough — you are important and what you do matters. We see you and we appreciate you.