#472 - 🥇 Service Lane FTW

TOGETHER WITH

Today we are headed to our final site visit for ASOTU CON 2023!

Make sure you follow along on our Instagram to check out the space and see some of the cool stuff you can experience!

Keep Pushing Back
-Paul, Kyle, & Chris

LOT WALK

• From golf carts to new wheels. ⛳️

• The service lane boom continues. ⚙️

• Exxon eyes Arkansas for lithium. 👀

• Checking in on Doctor AI. 🧠

Reading time: 4 mins 22 secs

DEALERS

Sinking Aces With UK Dealers

As we all know, things change when you cross the Atlantic. Unfortunately, some things like sickness stay the same, but luckily so do people willing to help.

Corkills Northwich Hyundai dealer in the UK hosted a charity golf event, unlike most of those we've covered. Instead of just walking around in the hot sun all day(or rain since this is the UK), folks who pitched in twenty to support The Joshua Tree were eligible for a hole-in-one-prize.

The Joshua Tree is a charity group that supports children facing cancer and their families. The 60 players brought in almost $5,000 for the critical work The Josuha Tree does.

One lucky player hit the hole-in-one and drove home in a brand-new Ioniq 6! Proving that while golf may be a good walk spoiled, sometimes it is a good drive made better.  

AUTOMOTIVE

Service Lane Strategies for Success

In the face of economic uncertainty and rising interest rates, drivers are holding onto their vehicles for a record-breaking average of more than 12 years. While this trend has led to a decline in overall car sales, there is a silver lining: the service and parts business is booming. 💣

Recent metrics indicate that service activity at franchised dealerships reached a record high in March 2023 and continues to remain higher than last year.

Even still, surveys show fewer vehicle owners believe dealerships offer unique value, and independent repair shops continue to be perceived as cheaper and more efficient. 😤

⭐️ Here are some ways to elevate the service game at your dealership:

🔀 Adapting to New Preferences: Dealerships must adapt to customers' digital preferences, including online F&I services and faster transaction times. Embracing EV servicing is also going to be crucial as those vehicles continue to gain popularity.

🙌 Opportunity Galore: Consumers across all age groups have increasingly positive views of dealerships, presenting opportunities to attract millennial and Gen Z buyers. Dealers can succeed in gaining Fixed Ops traction by helping to dispel perceptions about the quality and cost of repair/maintenance services.

🤝 Customer Loyalty Strategies: Dealers can employ low or no-cost strategies like warm greetings, detailed receipts, follow-ups, and vehicle walkarounds to boost customer satisfaction and counter independents' appeal. Eight out of ten shoppers say cash-back incentives as low as $35 would also attract them to dealerships for maintenance and warranty work.

TOGETHER WITH GRAMMARLY

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AROUND THE ASOTU-VERSE

AUTOMOTIVE

General Motors 👀💰📺

Chevy revealed the price and details for the 2024 Blazer EV.

• The first all-electric midsize SUV with up to 320 miles of range.

• The trims and features include advanced tech, like a 17.7-inch display and real-time charging info.

• It will cost $10,000 more than announced, contrasting with recent EV price cuts by competitors like Ford and Tesla.

• Dealers will receive the 2024 Blazer EV RS AWD in August.

OEM + Exxon 🤨⛏️🤘 

Tesla, Ford, and Volkswagen are reportedly leading talks with Exxon Mobil to secure lithium for EV batteries from a new source in Arkansas. As the demand for electric vehicles grows, automakers seek a stable lithium supply. Traditionally an oil giant, Exxon aims to enter the lithium business following the broader automotive industry shift toward electric and hybrid drivetrains.

Aston Martin ✂️🏷️😉 

Aston Martin raised $277M by offering 58.2 million new shares at a 6.2% discount to reduce its expensive debt. The company is working to improve its financial stability.

BMW 📈⚠️🍪 

BMW raised its annual outlook between 9%-10.5%, up from 8%-10%, expecting solid delivery growth. However, the company warns of continued challenges from supply chain issues and inflation in the latter half of the year. They also reduced their forecast for free cash flow, citing increased investment in electrification and inventory stocking, leading to a 4.5% drop in share value.

TECHNOLOGY

Medical AI Marvel

The worlds of science, medicine, and technology move fast but, for the most part, move together. This story out of New York's North Shore University Hospital hints at a future where injuries previously considered uncurable may be within reach.

👩‍🔬 What happened?
Scientists at the Feinstein Institutes for Medical Research implanted a device in the brain of a quadriplegic patient. The device, using AI, translates thoughts into actions, allowing the patient to feel sensations and move.

🙋‍♂️ To whom did this happen?
Keith Thomas, who had been paralyzed in a 2020 diving accident.

🤖 How did they do it?
The researchers performed a 15-hour surgery on March 9, 2023, identifying the right spot in the brain for the implant, which consists of five microchips. The implants were connected to computers to enable the translation of thoughts into movement.

🤞 What does this mean beyond Keith's story?
This breakthrough offers hope for over five million people in the US affected by paralysis. It potentially revolutionizes the treatment of paralysis, allowing those afflicted to lead more independent and fulfilling lives. 

Quick Hits

• A zoo in China has issued an official denial regarding claims its Sun Bear is a guy in a costume. 🧸

• California is investigating connected car data privacy. 🕵️‍♀️

• GameStop is getting out of the crypto wallet game. 🎲

History

• 1776: The United States Declaration of Independence is signed. ✍️

• 1967 - 1970: The original Chevelle clay model is documented in 1967, and the first cars went on sale three years later. 🏎

• 1990: Iraq invades Kuwait, eventually leading to the Gulf War. 🔫