#732 - 🚗 Stability and Data

Fork Lift Power, Overseas Movement, and Electric Racing

July 09, 2024

TOGETHER WITH

Welcome to Tuesday, Friends!

Today, we have some content from the economic, energetic, customer-facing, global, and technological wealth of movement in the automotive industry every day. Give it a look, and let us know your thoughts with a reply or comment.

Keep Pushing Back
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AROUND THE ASOTU-VERSE

Branding on Social with Rohrman Toyota

Check out these quick tips on using social media branding and content to connect with your community from Nick Kulaga and Dalton Miller with Rohrman Automotive Group.

Then, hit reply and share your tips for effective connection through social media and beyond.

BUSINESS

Start: Automotive Economics, Alternative Work Energy, and Tesla: Up and Down

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This email isn’t just a one-way trip from us to your inbox. Give today’s business news a look and hit us up with your insights, hot takes, or retorts. We live for that jazz!

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Black Book Data

Market Stability Amid Depreciation
Black Book's latest Market Insights report highlights a stable yet depreciating market for wholesale vehicle prices in June. Despite an overall price softening of 0.51%, there are key trends dealers should note as they prepare for the upcoming quarter.

  • Overall price softening: 0.51%

  • Full-size cars depreciation: 0.78%

  • Sub-compact cars depreciation: 0.81%

  • Compact vans depreciation streak: 12 weeks

Strong Auction Performance
The auction conversion rate peaked at 57%, the highest for the month, indicating strong end-of-month sales performance. This suggests that dealers effectively moved inventory, positioning themselves well for the Fourth of July sales period.

  • Auction conversion rate: 57%

  • End-of-month sales boost

Preparing for the Future
As the market adjusts to post-pandemic dynamics, ongoing depreciation emphasizes the need for strategic planning. Dealers should stay informed and agile, leveraging these insights to maximize sales and inventory value.

  • Monitor supply and demand dynamics.

  • Adjust strategies to market trends.

  • Stay agile and informed

Heavy Duty Goes Green: A Glimpse into the Future of Working Machines

The Port of Los Angeles is pioneering zero-emission operations by deploying five electric top handlers. These machines, capable of lifting 100,000 lb. containers, run on 1 MW batteries and can work up to 18 hours per charge.

Complementing this, hydrogen-powered loaders are being tested, promising rapid refueling and extended operation. These advancements reduce greenhouse gas emissions and free up resources for other uses, showcasing a sustainable future for cargo handling.

Tesla's Rollercoaster Week: From Slump to Surge

What caused Tesla's stock to spike this week?
The stock soared by 27% this week, closing at $251.55, after a better-than-expected second-quarter vehicle delivery report. Investors are optimistic ahead of the company's July 23 financial results and the upcoming Robotaxi Day on August 8th.

What is the latest on Tesla's legal fee issue?
Tesla shareholders will argue in court against a $7B attorney fee request related to Elon Musk's $56B pay package case. The fee, deemed "outlandish" by shareholders, could significantly impact Tesla's financials.

EV Apps: The New Essential for Drivers

A J.D. Power study found that 90% of U.S. EV owners use mobile apps, with Tesla and Hyundai leading in satisfaction.

Tesla's app scored 847, and Hyundai's MyHyundai with Bluelink topped the mass market.

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These apps, crucial for charge monitoring and remote control, are indispensable for EV owners.

The study also emphasized the importance of dealership support in promoting app usage and enhancing the ownership experience.

TOGETHER WITH REYNOLDS & REYNOLDS

How Are You Pushing Our Industry Forward?

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The automotive industry has some of the best people out there – what are you doing to make it even better?

Dealerships are sharing what they’ve done to improve operations and uplift their communities with the 2024 Automotive Amplifiers Contest.

Submit your best practice for a chance to take home the trophy and a $5,000 donation to the charity of your choice.

BUSINESS CONT’D

Finish: Dips + Jumps, Racing, and Racing

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EV Market Insights: Europe and China

Europe's EV Market: A Slight Dip but Still Strong 
May saw a 10% year-over-year decrease in plug-in electric car sales in Europe, yet the market remains resilient. Non-rechargeable hybrids saw an increase, capturing a significant market share.

  • May Sales: 226,178 plug-in units (21% market share)

  • All-Electric Car Registrations: Down 11%

  • Plug-in Hybrid Registrations: Down 10%

  • Non-Rechargeable Hybrids: Up 15% (30% market share)

  • First Five Months 2024: Over 1.1M plug-in cars registered

  • Top Model: Tesla Model Y

  • Leading Automotive Group: Volkswagen Group (20% share)

Rechargeable Cars are Gradually Taking Over China 
China's plug-in electric car market is experiencing rapid growth, with a record market share in May 2024. Both all-electric and plug-in hybrid registrations have surged, indicating a strong future for electric vehicles in the region.

  • May Sales: 816,875 plug-in units (47% market share)

  • All-Electric Car Registrations: Up 22% (29% market share)

  • Plug-in Hybrid Registrations: Up 55% (18% market share)

  • First Five Months 2024: Over 3.3 million plug-in cars registered (41% market share)

  • Top Model: BYD Song

  • Leading Brand: BYD (29.7% share)

Robert Wickens: Racing Against the Odds

What's going on?
Robert Wickens, paralyzed from the waist down since a 2018 IndyCar crash, returned to single-seater racing by testing a Formula E car in Portland.

Who is this?
Robert Wickens is a professional race car driver known for his remarkable comeback after a severe crash left him paralyzed.

How does it work?
Wickens drove the Formula E GenBeta car using hand controls reprogrammed for throttle and brake manipulation via steering wheel paddles, thanks to brake-by-wire technology.

What does it mean for our future?
Wickens' successful test could pave the way for more inclusive motorsports, demonstrating the potential for adaptive technologies to enable drivers with disabilities to compete at high levels.

NASCAR Goes Electric: A Sneak Peek at the Future

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NASCAR has taken a bold step towards sustainability by unveiling its EV prototype at the Chicago Street Race. This marks a significant departure from traditional stock cars and could revolutionize the sport.

  • Collaboration: Developed in partnership with ABB.

  • Motors: Three electric motors — one in the front, two in the back.

  • Battery: 78-kWh liquid-cooled battery.

  • Power: Generates 1,000 kW at peak power.

  • Chassis: Built on a modified Next Gen chassis.

  • Development: Supported by Chevrolet, Ford, and Toyota.

  • Performance: $1.5M prototype; impressive acceleration but heavy in turns.

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Quick Hits

  • Target won’t take personal checks after July 15th. ✅ 

  • A massive hack compromised 10B passwords across a series of platforms. 🔑 

  • Brad Pitt has a new F1 movie coming out — check out the trailer here.

History

  • 1941: British cryptologists break the secret code (Enigma) used by the German army to direct ground-to-air operations on the Eastern front. 🧩 

  • 1995: The Grateful Dead plays their last concert, which included the lead guitarist Jerry Garcia, at Soldier Field in Chicago. 💀 

  • 2009: The last Chrysler PT Cruiser is produced. ✌️

Thanks for reading, friend! Have a good day, and on any of the social media accounts below, let us know what you’re seeing, hearing, and thinking about the industry.

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