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- 🛩️ The Turbulent Auto Industry: Challenges, Innovations, and the Future of Electric Inventory
🛩️ The Turbulent Auto Industry: Challenges, Innovations, and the Future of Electric Inventory
TL;DR - The auto industry is in micro chaos as dealers try to clear unsold vehicles like they're hosting a yard sale in the rain. Tesla's Cybertruck is getting closer to full autonomy, a reality we are sure to never-ever-ever grow to regret. Rivian owners are navigating Tesla chargers like it's an obstacle course, while Ford's “Power Promise” sounds more like a long-term commitment to keep customers from switching to gas. Meanwhile, European manufacturers are gasping for air in a sea of competition and declining sales.
Today's Digest
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🤔 What’s up With Dealer Sentiment?
The U.S. auto dealer market is struggling, with low sentiment scores, sales pressures, and a need for better EV education.
Independent Dealers' Sentiment Score: 37 (down significantly).
Franchised Dealers' Sentiment Score: 50 (slightly better, but still low).
Political Uncertainty: 44% of dealers cite this as a major concern, highest since 2019.
EV Knowledge Gap: Many dealership staff lack adequate knowledge about electric vehicles, pushing customers to traditional cars.
Sales Pressure: Despite sufficient inventory, sales remain sluggish due to high operating costs and pricing pressures.
Training Need: The industry must prioritize training staff on EV technology to improve sales and transparency.
🤖 Some Cybertrucks Receive Full-Self Driving Update.
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Good news! The Tesla Cybertruck is finally receiving its much-anticipated Full Self-Driving (FSD) update nearly a year after its launch. With this over-the-air update, select customers can now enjoy the latest advanced driver assistance features, bringing Tesla one step closer to its vision of autonomous driving.
But wait, there’s more… Access to this shiny new FSD feature isn’t available for everyone just yet, and even those who do get it must stay vigilant behind the wheel. Plus, despite the fancy software upgrade, the FSD system remains a Level 2 automation, meaning it’s far from the fully autonomous driving many are hoping for. Users have also reported a mixed bag of experiences, with some unpredictability that could leave drivers on edge.
⚡️ POV: Charging a Rivian at Tesla Superchargers
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Rivian R1T owners can now access Tesla Superchargers using free NACS adapters, but compatibility and payment issues may arise, so be prepared for a few bumps in the road.
Is it really that easy to charge my Rivian at a Tesla Supercharger?
Sure, if you enjoy a scavenger hunt for compatible chargers and a potential payment hiccup that leaves you sweating at the station.
So, what’s with the adapters?
Rivian's giving away free NACS adapters—unlike GM, which thinks charging you $225 is the way to go. Thanks for making things difficult, guys!
What if I get stuck at a Supercharger?
Well, that’s the thrill of EV ownership! Just make sure your backup charging options are on speed dial, or you might be there a while.
🤟 Ford Launches “Power Promise” Program
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Ford's new program aims to enhance EV sales by providing home charging installations and addressing customer concerns.
Program Launch Date: October 1, 2024.
Home Charging Station Installation: Complimentary installation of the Ford Charge Station Pro ($1,310 value).
Cash Equivalent: $2,000 for customers with existing home chargers.
Target Audience: New buyers and leasers of Ford EVs like the F-150 Lightning and Mustang Mach-E.
Support Services: 24/7 advisor service included for all EV owners.
Battery Warranty: Emphasizes an 8-year, 100,000-mile warranty for reassurance.
Market Position: Ford is currently the second-best-selling EV maker in the U.S. but faces competition and rising costs.
Oh, how convenient, a free reason to never switch from the Ford brand, free and installed inside my house. How nice and totally selfless of them.
🇪🇺 European Automotive Industry Faces Turbulent Times Amid Declining Sales and Competition
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European automakers Stellantis and Aston Martin are facing significant challenges, including declining sales, rising inventories, and increased competition, highlighting the industry's urgent need for strategic adaptation.
Stellantis
Stellantis is feeling the pinch with a staggering 16% decline in U.S. sales for the first half of 2024. The company is now offering aggressive discounts to clear out an overwhelming 330,000 unsold vehicles, including the sluggish Alfa Romeo Giulia, which has spent over 600 days on dealer lots.
Aston Martin
Aston Martin isn’t faring any better, slashing its production forecast and witnessing a dramatic 28% drop in share prices. The luxury automaker is grappling with supply chain disruptions and a slowdown in demand, particularly in the Chinese market.
The Bigger Picture
As competition from Chinese automakers intensifies and the market remains sluggish, European manufacturers like Stellantis and Aston Martin face significant challenges. They must adapt quickly to navigate these turbulent times and regain market footing.
Want to dive deeper into the challenges facing the European automotive industry? Read ASOTU's full write-up of the news from Europe here! (Read Time: 2 mins 43 secs)
🏗️ Mammoet Unveils the World’s Largest Electric Crane: The SK6000
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Mammoet has launched the SK6000, the world's largest electric crane, with a massive 6,000-ton lifting capacity, set to tackle large-scale energy projects while aiming to address supply chain challenges.
Wait, do we really need a crane that can lift 6,000 tons?
Absolutely! Because building energy projects with smaller equipment just wasn’t cutting it—who doesn’t want a crane that could probably lift a small mountain?
How tall is this crane?
A whopping 200 meters! It’s so tall that if it were a person, it would have to duck under every bridge in town.
What’s it really good for?
Tackling the growing offshore wind industry! Because clearly, we need to make sure we can lift the biggest components, or else the wind just might blow them away!
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