TOGETHER WITH:
Howdy, Fam!
Battery replacement fear is still the number one reason shoppers walk away from EVs. The data says that reason doesn't hold up anymore, and we'll give you the exact line to say back when it comes up today.
Also in today's email:
The one number that ends the battery objection, plus a script to use it
Why 84-month loans have dealers watching the trade-in cycle closely
Three Ford stories worth your attention, and why Greenfield thinks four industry pressures are really just one
Oh, and stick around for the history bit at the bottom. A very familiar inbox just turned 17. 🎂
Keep Pushing Back,
—Chris with Paul, Kyle & Kristi
Reading time: 4 mins and 51 sec
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The Number One Reason Shoppers Skip EVs Doesn't Match the Data Anymore
New real-world data shows EV batteries are outlasting expectations by a wide margin.
A five-year-old Tesla Model 3 with 247,000 miles recently completed a 260-mile road trip across England without stopping to charge. Battery data firm Recurrent reports the average EV retains 95% of its original range after five years, and battery replacements on 2022-and-newer models have fallen to just 0.3%.
Despite that, battery fear remains the top reason shoppers give for avoiding EVs.
I think people ought to have a lot more confidence than they do.
If a shopper remembers one number, make it 0.3%. Equip your team with it, and the next hesitant EV shopper gets real data instead of a shrug.
Batteries either hold a charge or they don't, and right now 99.7% of them do. That's the whole conversation.
🎙️ Want the full conversation?
Listen to today's Automotive State of the Union episode for the complete discussion, additional context, and the conversations that shaped our perspective.
Where Cars, Music, and Mission Meet
A car changes more than a commute. It changes what's possible.
That's why we're proud to support our friends at Vehicles for Change and their 2026 Gala on October 17th.
For 27 years, they've helped families gain reliable transportation and opened career paths for future automotive technicians through hands-on training.
This year's event celebrates those stories while raising support for the work still ahead. If you've ever believed this industry is about people first, this is a night worth being part of.
Early bird pricing is available through July 15th—save your seat and help drive the next generation forward.
Loans Are Getting Longer, and Dealers Are Feeling It First.
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A record 24% of borrowers chose 84-month loan terms or longer in the second quarter, according to Experian. New-vehicle loans now average 70.4 months.
The concern isn't the payment. It's the cycle.
76% of dealers surveyed by AutoPayPlus called extended terms a serious threat to trade-ins
Negative equity among trade-in customers has reached its highest share since 2021
The average underwater buyer now owes nearly $7,800 more than their vehicle is worth
Longer terms lower the monthly payment today. They also change when, or whether, that customer walks back through your door.
Steve Greenfield's Midyear Check-In Points to One Squeeze, Not Four.
Four separate trends. One underlying squeeze.
Automotive Ventures founder Steve Greenfield graded his own predictions at the year's halfway point. The throughline was clear.
Affordability has split buyers into two markets
Tariffs and Chinese competition are squeezing OEMs from both directions
AI is making top employees dramatically more capable, quietly disrupting the junior talent pipeline underneath them
None of these four forces is resolving on its own. Dealers treating them as one problem are already ahead of the ones treating them separately.
A Chip Deal, a Quality Win, and a Turnaround That's Halfway Done.
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Ford's always in the news. Here are three pieces that caught our eye this week.
Micron signed a long-term chip supply deal with Ford, days after a similar agreement with GM, as memory chips become as critical to vehicle production as they are to AI data centers.
Ford was named the top mass-market brand in J.D. Power's Initial Quality Study, its first win over mainstream competitors since 2010. Porsche took the overall top spot, dethroning longtime leader Lexus.
CEO Jim Farley says the quality turnaround is about halfway done, with a full new vehicle lineup coming that he says has to launch "perfectly."
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🧠 Big Brain Energy
AI leaders are suddenly changing their tune on jobs, walking back some of the doom-and-gloom predictions from just a year ago. Someone forward this to whoever's been panicking in your group chat.
Microsoft is cutting 4,800 jobs and spinning off five Xbox studios entirely. The console wars have quietly become a console retreat.
Nvidia's next-gen AI rack system is reportedly delayed by more than a year. Even the company printing money has a supply chain.
🌀 Well, That's Odd
BYD's new flagship EV pulled in 65,000 locked-in orders in its first 30 hours on sale. For reference, that's a small city deciding to buy the same car on the same day.
A Chinese court ordered a bubble tea chain to pay Louis Vuitton $1.5 million over a logo dispute. Somewhere, a lawyer is very proud of themselves.
Geomagnetic storms are lighting up the northern lights across eight U.S. states this week. Free light show, no cover charge.
💵 Money Moves
Versant is buying golf simulator company Full Swing for $530 million. Somewhere, a guy in his garage feels very validated.
AOL and Vimeo's owner, Bending Spoons, is reportedly eyeing an $18.4 billion IPO. Yes, that AOL.
A pawn shop chain is thriving off the K-shaped economy, taking in $200 loans and $30,000 Birkin bags with equal enthusiasm. Something for everyone, apparently.
1928: The Plymouth automobile brand debuted at the Chicago Coliseum, with famous aviatrix Amelia Earhart famously driving the first model onto the stage to appeal to everyday drivers and women.
1930: Construction began on the Boulder Dam (now Hoover Dam).
2009: After spending more than five years in beta mode, Google officially took its Gmail out of beta testing.
