#731 - 🚗 New Truck, New King?

#731 -

TOGETHER WITH

Monday-Funday, Friends!

Today, we read the claim that the Cybertruck may be at the top of the electric truck pile, looked at some Q2 info, and caught updates from around the automaker world.

Hit reply and tell us what Monday is like for your team.

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

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BUSINESS

One: Cybertruck King(?), Rivian Q2, Toyota Cleared of Additional Wrongdoing, and Tariffs Take Off

It’s hard to tell what is true sometimes. Google “Cybertruck,” and you’ll find stories about it rescuing people’s dogs from burning buildings and also stories of it hitting a banana peel and flying off the rainbow road.

You can’t trust everything you read since everything you read seems at odds with everything else you read.

But for now, we have some news, reports, data, and bits to share. So, enjoy!

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Cybertruck Takes Charge

Tesla's Cybertruck may now be the best-selling electric pickup in the US. Despite Tesla's lack of detailed sales data, production figures suggest between 8,000 and 9,000 Cybertrucks were delivered in Q2, surpassing Ford's 7,902 F-150 Lightnings and GM's combined 5,125 Silverado EVs and Hummer EVs. Tesla’s efficient production ramp-up is key to its market lead.

Rivian Rides High

Rivian surpassed its Q2 2024 delivery targets and remains on track for its annual goals. Here are the key stats and plans:

• Deliveries: 13,790 vehicles, exceeding the 13,000-13,300 forecast and beating analysts’ 12,000 predictions.

• Production: 9,612 units produced at the Normal, Illinois plant, supporting a full-year goal of 57,000 vehicles.

• H1 2024 Totals: 26,600-26,900 deliveries and 23,100-23,300 units produced.

• Profitability: Aims for per-vehicle profitability by Q4 2024, currently facing a $38,784 loss per vehicle.

• 2025 Updates: New R1S and R1T updates planned.

• Joint Venture: $5 billion partnership with Volkswagen focusing on software and electrical architecture.

Rivian’s success and strategic moves position them well for future growth in the EV market.

Toyota Ticks All Boxes

Toyota's recent investigation found no new wrongdoing in its certification applications beyond previously reported issues. This follows an industry-wide check ordered by Japan’s transport ministry after a safety test scandal. Toyota remains committed to following the ministry's guidance.

EU Tariffs Zap China-Built EVs

Those tariffs finally hit. The European Union has confirmed increased tariffs on electric vehicles imported from China, effective Friday. Key details:

• Tariffs: Range from 17.4% to 37.6%.

• Impact: Affects Chinese automakers like BYD and Nio, as well as Tesla’s Shanghai-made cars.

• Reactions: Nio warns of potential price hikes, while Xpeng promises no immediate increases for current orders.

• Future Actions: EU member states will vote on permanent duties, lasting five years, within four months.

• Mitigation: Chinese automakers are considering local manufacturing in Europe to mitigate tariff impacts.

TOGETHER WITH FULLPATH

Maximize Your Data’s Potential

During ASOTU CON 2024, Kyle Mountsier had the pleasure of interviewing Fullpath’s Ro Oranim to discover how their Customer Data Platform is revolutionizing data management, and turning scattered information into a unified treasure trove.

Fullpath's CDP doesn't just collect data—it activates it. By cleaning and integrating dealership data, Fullpath creates a singular view of each customer. This means sales and marketing teams can deliver effective, personalized experiences with AI-driven, automated campaigns that hit the mark every time.

In the interview, Ro explains how Fullpath's comprehensive approach enables dealerships to market to people (not just numbers) to build meaningful relationships with customers and boost retention.

Check out the full interview to learn more about Fullpath’s innovative solutions here. Then, schedule a demo!

BUSINESS CONT’D

Two: Prius in June, Tesla’s Parental Controls, Chery (Not Chevy), and EV-nomics

Prius Pothole

Toyota only sold 13 Priuses in June due to a stop-sale issued after an April recall for rear doors that could open while driving. Despite this setback, Prius sales are up 2.9% in the first half of 2024, with 15,373 units sold. Production restarted last month, and sales are expected to rebound soon.

Tesla's Tech Treats

Tesla's 2024.26 software update, currently in testing, introduces parental driving controls to limit speed and notify about late-night drives. The update also includes an AQI symbol for poor air quality and scheduled charging. Additionally, Amazon Music and YouTube Music apps are now accessible in the US with Premium Connectivity or Wi-Fi.

Chery, Not Chevy, Crosses Over

China's Chery Auto launched its Omoda 5 crossover SUV in Italy, priced at 27,900 euros. Chery (no, we didn’t mean Chevy) aims to expand across Europe, entering 60 new markets globally in the next three years. An EV version will be available in September.

EV Economics: The Bottom Line

Electric vehicles present potential fuel savings, but regional variations and higher upfront costs complicate the financial picture. Key data points include:

• Fuel Savings: Driving a fully electric car can save up to $2,200 annually, depending on local fuel and electricity prices (Argonne National Lab analysis).

• Maintenance Costs: EVs are generally cheaper to maintain than gas vehicles.

• Cost Variance: Lifetime ownership cost for a midsize electric SUV (300-mile range) can vary by $52,000 based on location (University of Michigan study).

• Initial Costs: Average EV costs over $57,000, about $10,000 more than other vehicle types (Kelley Blue Book).

As battery costs fall and more mass-market EVs become available, the financial case for EVs will likely strengthen.

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CULTURE

Turning Tragedy into Training

Flood-damaged vehicles are a nightmare for Ford, but they are making dreams come true for educators and students.

When brand new 2024 Ford Mustangs (worth over $40K each) were damaged by floodwaters in New Boston earlier this year, they could have been destined for the scrap-yard. Instead, Ford saw an opportunity for a greater good.

The automaker collaborated with metro Detroit dealers to repurpose the damaged vehicles for shop classes in Southeast Michigan, training the next generation of auto technicians.

Mike McLean, Ford's market area coordinator, says they’ve donated over 300 vehicles nationally since September. The program also includes cars damaged by hurricanes, hailstorms, and theft recoveries.

The impact is nationwide. "Ford cars, trucks, SUVs, and vans have ended up at schools from Maine to California," McLean noted. The program has expanded to include partnerships with other automakers like GM and Stellantis, who also donate vehicles for educational purposes.

Ford's initiative transforms an L into a W for education by inspiring students and supporting the future of techs. Bravo! 👏

AROUND THE ASOTU-VERSE

Coming Soon

We are working hard to wrap up Episode 4 of “More Than Cars,” and we can’t wait to share it with you. 🍿

In the meantime…catch up on the first three episodes here! 

Quick Hits

• As of yesterday, all new cars sold in Europe must be fitted with intelligent speed-assist software designed to discourage drivers from breaking the speed limit. ⚠️

• A federal court in Texas temporarily blocked the U.S. government’s ban on non-compete agreements that was set to take effect on September 4th. ⏸️

• The first teaser for Apple’s Formula 1 movie starring Brad Pitt debuted over the weekend. 🏎️

History

• 1680: The first confirmed tornado in America is recorded. 🌪️

• 1796: The U.S. State Department issues the first U.S. passport. 🛂

• 1870: U.S. Congress authorizes the registration of trademarks. ™️

Thanks for reading, friend! It’s both National Video Game Day and National Be A Kid Again Day, and we don’t think that’s a coincidence. So, we’d like to suggest you honor the holiday by grabbing a bag of Doritos and a Sunny D (or equivalent too-salty and too-sugary snack), tossing on your coziest onesie, and diving into your favorite childhood video game.