#446 - 😎 Optimism Is Cool Again

TOGETHER WITH

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We promise at least one under your breath chuckle a day, whether you are laughing with or at us, or your money back!

Keep Pushing Back
-Paul, Kyle, & Chris

DEALERS

Growing Up With Beaver

Beaver Toyota of Cumming has extended a helping hand to its community by supporting the Bald Ridge Lodge, an organization dedicated to helping young men transition to adulthood.

The Beaver team spent June repairing and cleaning the BRL's group home. They painted rooms, fixed fixtures, and organized pantries. They spent some serious elbow grease cleaning the place up, including its sidewalks and grills.

Because of the hands-on work, the young men who come to BRL for a fuller life will have more than a path to walk, they’ll have the absolute certainty that people in their community are beside them as they do.

Telling it like it is – Getting older is inevitable, but growing up takes work and support.

AUTOMOTIVE

A Little Economic Optimism

Last week on David Long's All Things Used Cars, John Ellis provided the community with his weekly economic breakdown. As always, it was data-rich and insight-packed, and we grabbed some of those insights to share with you! 🧐🧮

As we transition into Q3, automotive dealers can leverage the rise in consumer optimism and persistent spending trends. Opportunities abound in focusing marketing efforts and procurement strategies on younger, higher-income demographics. ☀️👍

New car prices. Despite a 4% year-over-year rise, growth has slowed recently. With wholesale depreciation increasing, dealers should price their older inventory competitively. 📈🐢

Of course, auctions are still promising inventory sources, but the additional expenses further complicate the situation. Simultaneously, a rise in repair order volume but a decline in repair dollars signals a chance for acquiring vehicles through collaborative in-house strategies. 🧑‍⚖️🛠️

Credit availability has tightened across most lenders, with auto-focused finance companies being an exception. Understanding high-demand and low-demand inventory aids in devising secure pricing strategies and mitigating risk. 🏦💰

With challenges in new car affordability set to continue, the spotlight falls on used car operations. Prioritizing total departmental profit over waiting for each vehicle to hit an average front-end minimum could circumvent significant losses. Dealerships must adopt efficient and profitable acquisition strategies to sustain growth in this dynamic landscape. 🚗👩‍🔬

Telling it like it is – You only ever hear about two kinds of breakdowns: mental and economic. Makes ya think…

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AUTOMOTIVE

Motor Morsels: Tesla, Hyundai, BYD, Aston Martin, and Lucid

🛻🔙🤔

A new video reveals Tesla Cybertruck's rear-wheel steering capability in action, performing sharp turns in a parking garage. This rejuvenated feature, already seen in the Hummer EV, offers precise turning, promising improved maneuverability for electric pickup trucks, which is a boon for vehicles of their size.

🔌🚘⚡

Hyundai explores adopting Tesla's NACS EV charging standard for its Integrated Modular Architecture (IMA) electric platform. However, concerns exist over its compatibility with Hyundai's faster-charging systems. This move follows Ford, GM, and Rivian, amplifying user convenience via broader Supercharger network access.

📉💰🚙

BYD, the Chinese automaker, has unveiled the Seagull, a $10,000 EV featuring cutting-edge sodium-ion battery technology. With a 252-mile range and a 10% discount for local buyers, the Seagull recorded over 10,000 preorders in 24 hours. Currently, it's for sale exclusively in China.

🤑🤝🤖

Aston Martin will gain access to Lucid Group's high-performance EV technology in exchange for a 3.7% stake, valued at around $232 million. The deal enhances Aston Martin's transition to electric, with plans for its first EV by 2025 and a fully electric core range by 2030.

TL; DR – Reddit got a look at the Cybertruck’s rear-wheel steering in action, Hyundai may join the charging standard, BYD revealed a $10K EV, and Aston Martin is working with Lucid to electrify.

CULTURE/TECHNOLOGY

Out of This World

Virgin Galactic’s space plane, owned by the ultra-wealthy Richard Branson, is set to embark on its first commercial spaceflight on June 29th. Carrying three passengers and a flight instructor, the spacecraft will be launched into space from New Mexico's Spaceport America for a 90-minute flight.

Too soon? While a successful mission would mark a significant achievement in commercial space travel, some analysts are expressing concerns in light of recent billionaire-related mishaps. 🚀 

To infinity and beyond! Although the film series was originally supposed to end at four, Pixar has confirmed that Buzz Lightyear and Woody will return as “Toy Story 5” is officially in the works. 📽️ 

NASA boldly goes where no bladder has gone before. The Space Administration has managed to recycle 98% of an astronaut’s urine and sweat on the International Space Station through multiple processing treatments. This helps bring us closer to sustainable space exploration and follows the ultimate golden rule: waste not, want not. 🚰

Telling it like it is – No one asked us, but maybe billionaires should just keep their feet on solid ground for a little while.

Quick Hits

• A state-backed fund in Japan bought out $6.4B in semiconductor chip production equipment. 🍪

• A Flintstones reboot is coming from Fox, starring Elizabeth Banks as a grown-up Pebbles. 🗿

• The White House announced a $40B investment in broadband. A big push toward its goal of having high-speed access available to all Americans by 2030. 🇺🇸

History

• 1898: The first solo circumnavigation of the globe is completed by Joshua Slocum from Briar Island, Nova Scotia. 🌎

• 1985: The “Main Street of America,” U.S. Route 66, is officially decertified 🙅‍♀️

• 2003: The Do Not Call list registration begins in the United States. 📵