#759 - 🚗 UAW Criticizes Trump/Musk Talks

TOGETHER WITH

Welcome back to another day of the Daily Push Back email.

Staying informed is a lot like exercise. It’s easier to do one hour 365 times a year than it would be to do 365 hours one time a year.

Enjoy!

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

_{Was this email forwarded to you? Subscribe here!
Reading time: 4 min and 32 sec}

BUSINESS

UAW Vs. Trump Vs. Harris Vs. Musk?

United Auto Workers President Shawn Fain criticized Donald Trump's ties to Elon Musk while campaigning for Kamala Harris, the Democratic Presidential candidate.

Musk endorsed Trump after the assassination attempt on the former president and reportedly planned to donate $45M monthly to a pro-Trump PAC (though both Musk and Trump later denied this).

Fain accused Trump of changing his stance on electric vehicles due to Musk's influence, calling him a "sellout."

Meanwhile, as Musk costs Trump support, Trump seems to be costing Elon a bit of strife also. A European drugstore giant Rossmann stopped purchasing Tesla vehicles, citing Musk's political support for Trump as incompatible with Tesla's environmental mission.

Battery Flambé

Experts are raising alarms about cities' preparedness for EV fires, which are notoriously difficult to extinguish and can reignite. The lagging regulatory codes increase safety risks, especially in enclosed spaces like parking garages and maintenance facilities. To mitigate these dangers, advanced fire suppression systems and proper facility designs are crucial.

On a more positive note, ChargePoint has introduced the Omni Port, a versatile DC fast charger supporting both NACS and CCS plugs. This innovation aims to eliminate plug confusion, enhancing compatibility for all EV drivers. The Omni Port will soon be integrated into public and home charging stations, marking a significant step forward in making EV charging more accessible and user-friendly.

Ford's European Sales Plummet

Ford thought ditching small cars for crossovers was smart. Now, their sales are tanking, and competitors are laughing all the way to the bank.

• Ford's sales in Europe are falling due to strategic missteps.

• The discontinuation of the Fiesta, Mondeo, and Ka resulted in a 16.9% sales drop in the EU, EFTA, and UK.

• This led to a market share decline from 4.1% to 3.3%. With the Focus set to be discontinued by 2025 and slower EV growth, Ford's new electric models may struggle to recover lost ground.

Lucid Motors' Strong Q2 Performance

Lucid Motors is making bank and proving they're tech wizards with their EVs. They also snagged a cool $1.5B to keep the magic going.

• Lucid Motors reported strong Q2 2024 financial results, earning $200.6M from 2,394 vehicle deliveries and planning to produce 9,000 vehicles by the end of 2024.

• A $1.5B investment from the Public Investment Fund (PIF) strengthens its financial stability. Lucid also achieved an efficiency milestone of 5.0 miles per kilowatt hour, reinforcing its leadership in EV technology.

Hyundai's New EV Plant in Thailand

Hyundai's betting big on Thailand with a new EV plant to take on BYD. The goal? Steal some market share and help Thailand hit its ambitious EV targets.

• Hyundai is investing $28M to build an EV assembly and battery plant in Thailand, operational by 2026, in partnership with Thonburi Automotive Assembly Plant Co. BYD, leading Thailand's EV market, sold nearly 30,000 electric cars last year and holds a 46% market share in 2024's first quarter.

• This investment aligns with Thailand's goal to become a leading EV hub in Southeast Asia. 

TOGETHER WITH MOSAIC

What’s Up With CARS?

We spoke with our talented friends at Mosaic this week to learn more about the impending CARS rule. Here are some highlights:

• FTC's New Rules: The FTC's Cars Rule is a big deal, bringing in major changes for car dealers with over 370 pages of regulations. Compliance is crucial to avoid hefty fines.

• Impact on Operations: Dealers need to revamp how they quote prices, advertise, and document sales to stay on the right side of the law.

• Get Ready: Whether the FTC wins or loses the legal battle, dealers should prepare by investing in compliance systems and training their staff for ethical sales practices.

Check out the full conversation here!

MORE THAN CARS MOMENTS

Too Many Rons

Our friend Kayla Kody shared a lovely story from the Richmond Ford Auto Group. Her father, Ron Kody, recently celebrated his 65th birthday in a unique and heartwarming way.

In a LinkedIn post about the event, Kayla mentioned one of the many benefits of being part of a family business: the opportunity to inject a little extra creativity into celebrations. For Ron's birthday, the team at Richmond Ford Auto Group's managers meeting dressed up as their “favorite Ron.” From workout Ron to outdoor Ron, wake surf Ron to professional Ron, the team showcased the many facets of Ron's personality, making the day both fun and memorable.

Kayla expressed her gratitude to her dad for his daily inspiration, noting how the team's outfits were a tribute to the diverse and inspiring individual Ron is.

Happy Birthday, Ron! Your creativity and spirit continue inspire folks. 🎂

AROUND THE ASOTU-VERSE

Coming Soon

👊 STARTING TODAY! August 9-11th — VeeCon in Los Angeles, CA.

👨‍⚖️ August 19th — Paul and Kyle judging the Automotive Amplifiers Contest with Reynolds & Reynolds in Leesburg, VA.

🌴 August 20-24th — NAMAD Conference in Miami, FL.

🍎 September 16th — The Welcome Conference in NYC.

Quick Hits

• One of those wearable AI pins has hit $1,000,000…in returns. 🤑 

• First Netflix, now Costco. The huge retail stores will begin cracking down on membership card sharing. 🚷 

• U.S. jobless claims have increased, though less than expected. 📈 

History

• 1892: Thomas Edison receives a patent for a two-way telegraph. 🔗 

• 1917: Barney Oldfield sets new speed records in the Golden Submarine. ⏩️ 

• 1945: The United States dropped its second atomic bomb in Nagasaki, Japan killing more than 70,000 people. 🇯🇵 

Thanks for reading, friend! We hope you are informed, encouraged, and feeling a bit more connected to your community through today’s content. Check out more of what we’ve got going on with the links below!