🎸 News and Jams

BUSINESS

What You Need is News…

Is it hard for anybody else to resist singing when they see the words “What I got?”

--

Toyota’s Global Production Falls for the Sixth Straight Month

Wait, is Toyota on a losing streak? What happened this time?
Yep, Toyota's global production fell 1% in July—marking their sixth consecutive month of decline. Apparently, even the king of reliability is having a rough year.

What’s causing all this drama?
A mix of declining sales in China (down 6%) and Thailand (down 13%) is part of the problem. Oh, and don’t forget the 5% drop in the U.S., thanks to an airbag issue that led to a production and delivery pause.

Is this just a Toyota problem, or is everyone feeling the pain?
It’s mostly Toyota taking the hit this time. While competitors are dealing with their own challenges, Toyota’s the one racking up these back-to-back losses like it’s trying to break a record.

So, should U.S. dealers be worried about this?
Not unless you were banking on selling a ton of Grand Highlanders or Lexus TXs right now. Otherwise, keep doing what you do best—after all, Toyota’s had worse and still come out on top.

Is there a silver lining here, or are we just waiting for the next decline?
Toyota's been down before and always seems to bounce back. So, let’s not start counting them out just yet. But hey, if this streak keeps up, maybe they’ll finally realize it’s time to add a bit more excitement to their lineup.

EU Car Sales Flat as Battery-Electric Vehicles Decline

In July, new car sales in the European Union showed minimal growth, with significant shifts in the electric vehicle market.

• Overall Sales Increase: 0.2% rise in new car sales across the EU.

• BEV Decline: Battery-electric vehicle (BEV) sales dropped sharply, particularly in Germany, which saw a nearly 37% decrease.

• Hybrid Surge: Hybrid-electric vehicle sales increased by 25.7%, now accounting for 32% of the market.

• Major Automaker Impact: Volkswagen, Stellantis, and Renault experienced declining registrations.

• Chinese Automaker Growth: Chinese companies like SAIC Motor saw gains in market share.

Gen Z Is Driving More Than You Think

The stereotype that Gen Z is ditching cars? Not so fast.

Key Findings:

• Driving Up: 47% of Gen Z reports driving more than five years ago, outpacing millennials (41%), Gen X (33%), and baby boomers (16%).

• Personal Freedom: 73% of Americans believe privately owned vehicles will remain the top transportation choice for the next decade.

• EV Hesitation: 68% worry the U.S. lacks the infrastructure for widespread EV adoption.

• Commute Complaints: 45% want cheaper commutes, while 28% want less stress.

Bottom Line: Gen Z is hitting the road in a big way—busting myths and taking control, literally.

Chinese EV Market Leads in Setting New Tech Standards

China’s electric vehicle market is not only growing rapidly but also setting new standards for automotive technology, including digital key systems. Government incentives and the widespread adoption of new energy vehicles are driving this trend, positioning China as a global leader in smart vehicle innovation.

China’s EV Makers Shift Focus to Chip Technology

Chinese electric car companies like Nio and Xpeng are focusing on in-house chip development for driver-assist features, reducing reliance on Nvidia. Nio recently announced a 5-nanometer chip for its ET9 sedan. This move is driven by Tesla’s success with custom chips and aims to mitigate supply chain risks.

GM and Samsung SDI Announce $3.5 Billion Indiana Battery Plant… But Don’t Hold Your Breath.

New Carlisle, Indiana, 2027—Just kidding, it’s still 2024, but you might feel like you’re living in a time warp by the time this plant starts production.

The Gist: GM and Samsung SDI have locked in a $3.5 billion deal to build a cutting-edge EV battery factory in Indiana. They’ve already started construction, but don’t expect to see any batteries rolling off the line until 2027—yes, that’s a year later than they originally planned.

Why Should You Care?: Because in the fast-paced world of EVs, a year can feel like a lifetime. But hey, 1,600 new jobs and a factory that’s supposed to be a linchpin in GM’s U.S. EV strategy isn’t exactly small potatoes. Just be patient—really patient.

What to Watch: Will this delay be a bump in the road or just a small detour on GM’s drive to dominate the EV market? Only time (and a lot of construction) will tell.

That’s the news we liked today. Check out more on the links below or sign up for the Daily Pushback email for more straight in your inbox around 6 AM CST.