Then and Now

Like an old timer in a country song, Paul and Kyle went digging into the past. Yesterday, they looked at what had us all abuzz back in 2014 and traced some of those stories to today.

Which is essentially what I've done here, but with more/less/different content. Enjoy!

Ride Sharing

2014: Millennials are drawn to car-sharing services, but eventually, they buy

Did all the millennials give up on car ownership? Nope. But, in many places, public transportation is evolving from gig drivers to...well, no drivers.

2024: Self-driving tech company WeRide adopts AI and expands

Hop, skip, and jump to today, and we see all kinds of ride-sharing and autonomous driving beginning to take hold.

WeRide, a self-driving tech firm, is not just focusing on car-sharing but on fully autonomous vehicles like robo-taxis, minibuses, and even sanitation vehicles.

With AI advancements, they're expanding globally, testing in cities across China and Singapore and even eyeing markets in Japan and Europe. It's a testament to how far we've evolved from simple car-sharing to sophisticated AI-driven transportation.

Recalls

2014: Nissan expanded the recall of cars with defective Takata airbags in the U.S.

Maybe in the last 10 years, we have defeated recalls?

Well, maybe it is unfair to compare any year to 2014 in terms of recalls since it is the record for most recalls in a single year.

By the Year, By the Number

Cars and light trucks affected by 2013 recalls: 21.5M
Cars and light trucks affected by 2014 recalls: 63.5M
Cars and light trucks affected by 2023 recalls: 35M

So, while all the electrification and software definitions are bringing new sorts of issues, it seems swinging big can lead to missing big no matter what sort of powertrain you're working with.

"Fun" Fact

At 63.5M, 2014's recalls exceeded new vehicle sales for the year by about 4x.

2024: Tesla recalls 1.85M U.S. vehicles over the unlatched hood issue

Recalls are a constant reminder of the challenges in the automotive industry. In today's headlines, Tesla faces a significant recall of 1.85M vehicles due to software issues with hood latches, and Chrysler also recently recalled nearly 20,000 Pacifica PHEVs for battery fire risks.

Y'all remember dialing "*69?" Talk about a re-call and throwback at the same time, amirite?

Dealer Groups

2014: Group 1 Q2 profit tumbles 55% on Brazilian problems

A decade ago, Group 1 Automotive was struggling with a 55% drop in profits due to issues in Brazil, with their stock price around $55.

Hey, businesses go under all the time, even dealerships and multi-rooftop dealer groups.

2024: Group 1 Automotive: Q2 Earnings Snapshot

Today, Group 1 is reporting a robust Q2 profit of $138.2M, with earnings surpassing expectations at $9.80 per share.

📈 514.55% in 10 years

Their revenue might have fallen slightly short of forecasts, but their turnaround story is impressive, with their stock closing at $338 yesterday. It's a clear indication of their resilience and strategic growth over the years.

EV Startups

2014: Fisker's Chinese owner plans second model after Karma output resumes

In 2014, Fisker was gearing up for a comeback with plans for a second model.

It's always wonderful to track the progress of rising stars. So many people are counting on automakers to be in it to win it for the long term when they decide to trust them for their mobility needs. How's Fisker now, you ask?

2024: Fisker Ocean owners create homemade fixes amid automaker's bankruptcy

Fast forward to today, and Fisker owners find themselves in a bind. Despite selling over 6,000 Ocean crossovers, the company has filed for bankruptcy.

DIY FTW?

Owners have banded together, forming the Fisker Owners Association, to create homemade fixes and secure parts to keep their vehicles running. It's a pretty stark contrast to the optimism of a decade ago.