🚙 Supply On The Rise

TOGETHER WITH

Just a couple of weeks ago we shot a show in Arlington, TX that we are calling More Than Cars. Ever since I got in the industry, I have been enamored by the fact that retail automotive gets such a bad rap. The people I have come to meet and even come to call family are incredible and their impact on communities is something special. We all know this, but it is time more people did.

Next week in Tampa on Tuesday evening, we will be launching the premiere of More Than Cars at Tampa Theatre following a networking and full energy happy hour. I really hope you will consider joining us, whether you are in town for Digital Dealer or are willing to come in for the day. We want to tell a better story together and this is the best way we know how!

Keep Pushing Back-Kyle Mountsier

DEALERS

Giles Automotive Shares the Love

Giles Automotive and Subaru of America donated $30,000 to Dreams Come True of Louisiana! This organization fulfills the dreams of children with life-threatening illnesses.

The donation is part of the Subaru Share the Love Event, which keeps the good vibes rolling as Subaru and its dealers contribute to local and national charities.

Community leader and Chairman of Giles Automotive, Bob Giles, said, "The Giles Automotive Family and I put the utmost significance on giving back. I always encourage everyone to get out there and Give Back to their community in any way possible."

Telling it like it is - Sharing love with people is easiest when there is something to celebrate, but maybe more important when they live with suffering we can't remove.

AUTOMOTIVE

Service Activity, Pre-Owned Sales, and Inventory up in Q1

🌱✂️

Unlike my neighbor Dave, data don't lie. Data also doesn't borrow your mower, then bring it back broken and insist "it was already like that." The industry had a March that, at the very least, has folks optimistic about Q2.

📈🔧📉

In March, service lane activity was up 15.9% month-over-month but down 4.3% year-over-year. However, in terms of revenue, the movement is reversed, with a 5.6% jump in revenue from March 2022 but down 0.5% from February to March.

🚗🦘

Despite a projected 6% decline, pre-owned sales jumped 4.2% in March 2023 vs. 2022 and 11% compared to February. Cost per repair order was up 10% vs. Q1 2022.

🏭👩‍🏭

Through Q1, most automakers had an increase in sales. Averaged-out sales increased about 7.5%, with only Toyota and Stellantis declining. Inventory, of course, has played a significant role in the ups and downs of recent years. Still, as the semiconductor shortage finally eases, inventory is on the mend. GM, for instance, has a 50% inventory rise in Q1 2023, marking a potential return to normal.

Telling it like it is - Inventory is coming back, but it won’t undo the need to keep your service and pre-owned business strong.

TOGETHER WITH DIGITAL DEALER x ASOTU

More Than Cars

Celebrate with us in Tampa on May 2 at 6:30 pm for more than a docu-series premiere, but the launch of a new genre in automotive!

Who doesn't love a peek behind the curtain? Like "Dirty Jobs" or "Bar Rescue" helped viewers see the fast-paced human side of industries, ASOTU's "More Than Cars" will bring the audience into the dealership for the full story of retail auto.

Join us for a red carpet event, refreshments, and the live premiere of "More Than Cars" after the first full day of Digital Dealer in Tampa.

If you still need a ticket to Digital Dealer, use code “ASOTU300” for $300 off your ticket!

AUTOMOTIVE

Quick Bites: GM, VW, Ford, MINI and Tesla

🍴 GM is adding a new trim to their Hummer EV line-up. The 3X is a powerful range upgrade for both the SUV and pickup models and offers the option to include an Extreme Off-Road Package (which we assume means you can opt-in for speedboat and/or personal plane capabilities). 🛩️

🍴 MINI's ice cream giveaway at the Shanghai Auto Show led to a meltdown when Chinese citizens were reportedly turned away while a foreigner was served, causing a flurry of outrage on social media. 🍦

🍴 New footage of the fire that started in a Ford F-150 Lightning earlier this year has sparked major concern over the potential dangers of unstable EV batteries, including the preparedness of first responders to handle the hotter, longer battery fires. 🚒

🍴 Volkswagen and Canada have committed to a $20B investment for a massive battery gigafactory in Ontario, marking the single biggest investment ever in the country's EV supply chain. Groundbreaking is slated to begin in 2024. 🔋

🍴 Last week, Tesla suddenly decided to increase the cost of its older, slower-selling Model S and Model X vehicles by up to 2.9% following four US price cuts earlier this year. We know, it’s hard to keep up - Musk modifies Tesla’s pricing nearly as often as he modifies Twitter’s blue-check guidelines. 💸

Telling it like it is - Hummer is getting some extreme upgrades, MINI had a mini meltdown, Ford fuels concerns over battery fires, VW’s Canadian gigafactory comes at a gigaprice, and Tesla remains predictably unpredictable.

CULTURE

The Coolest Concept Cars from SAS 2023

Last week’s Shanghai Auto Show not only put the spotlight on many new production vehicles, it also featured several intriguing concept cars. Here are a few faves:

BMW i Vision Dee Concept

This electric marvel features a slew of futuristic features like graphic windshield displays, a front grille that can mimic facial expressions, and BMW’s patented “E ink" technology that allows you to change the car's exterior color with the push of a button.

DiDi Neuron Concept

Chinese ride-sharing company DiDi revealed an autonomous-taxi prototype that features tons of interior space and seats facing each other. The prototype is also equipped with robotic limbs that can assist passengers with things like loading luggage and picking up items from the floor. 

Lynk & Co The Next Day Concept

The high-end brand owned by Geely showcased a concept sedan they originally imagined in 2022. In addition to the sleek design and full-glass roof, the car’s most dramatic standout features are the suicide doors that open vertically.

Telling it like it is - Still waiting for that built-in coffee maker…

What unique features would you include if you were designing a concept car?

Quick Hits

• Belgium destroyed over 2K cans of Miller High Life because it’s not champagne.

• Wearable AI buddy gets some spotlight at TED. Leaked footage is around, if you know where to look.

• Marvel’s Guardians of the Galaxy 3 trailer is out.

• CATL claims to be on the brink of developing new batteries that are so energy dense that they will make electric flight possible.

• Post Malone chats with the International Space Station about the Earth for Earth Day.

History

• 1800: The United States Library of Congress is established when President John Adams signs legislation to appropriate $5K to purchase "such books as may be necessary for the use of Congress."

• 1918: The first tank vs. tank battle occurs in war.

• 1984: Apple releases the Apple LLC portable computer.