🥽 Virtual Reality Hits the Road

TOGETHER WITH

When is the last time you went around to every employee in your company and said ‘hi,’ welcomed them to the day, and gave them a bit of smile and encouragement? For some, yesterday. For others, a while.

Why not take advantage of that opportunity today!?

Keep Pushing Back
-Paul, Kyle, & Chris

DEALERS

5000 Steps Closer to a Degree

💰 In 2020, Shults Ford offered a $5,000 scholarship to one Steel Valley High School student, where the president and owner of Shults, Richard Bazzy, earned his own high school diploma.

✍️ Each applicant wrote a one-page essay about how the school had prepared them for success. Then, he offered the scholarship again the following year and awarded all 11 applicants with the money.

🤔 Noticing a pattern? Again last year, he awarded all 18 students who submitted an essay. Finally, this year, when 26 applications came in, Bazzy awarded them each with $5,000 to help them move toward their personal dreams of higher education.

Having not attended college, Bazzy says, if he can help people, it's his responsibility to do so. 💚

"To me, it is a disappointment that I cannot do more," he said. When asked if he will eventually limit the number of scholarships Shults Ford will provide, he answered, "If I can encourage somebody, 'If you go to school, you can get a $5,000 scholarship.' And then it motivates somebody to go to school, how can I then say there is a limit?" 🌋

Telling it like it is - Our title suggests each dollar is a step toward finishing college, which we know isn’t exactly true. It takes hard work, discipline, and often the support of a community to get through college, also 5000 x 26 is 130K, so it’s more like 130K steps closer to a diploma. 🏃

AUTOMOTIVE

Data For Your Morning

📈🏭💪

In April, a 9.3% increase in vehicle and auto part production led US manufacturing to its first up month since January. Overall manufacturing rose 1%, but if automotive is removed from the equation, it increased by just 0.4%.

☝️🔼🆙

While manufacturing, at least in the US, is regaining its legs, used car prices are still at historic highs. For example, in Q1 2023, prices dipped 6.4% compared to 2022 but remained 44% higher than in Q1 2018. In the same period, the percentage of used vehicles sold under $20K was cut in half to just 30.6% this year.

🚙🌸📉

While used retail is still elevated, in the first half of May, wholesale used-vehicle prices have dipped by 2.1% compared to April and 7.0% compared to the end of May last year. Even accounting for seasonal adjustments, wholesale prices are down year-over-year.

Telling it like it is - Data really only measures the past. Maybe tomorrow we will do a piece about fortune tellers so we can give you a glimpse of the future.

TOGETHER WITH QUANTUM5

Meet the Team

You already know people who keep the automotive world turning. Brendan O'Brien, Quantum5's Director of Community Architects, is one of those people.

In a recent Meet the Team interview, Brendan shared that Quantum5 may create game-changing training solutions for dealers, but their real power lies in their people. They don't just sell and support products - they wake up driven to make a difference for clients every day.

See how Quantum5 turbocharges employee retention and customer loyalty with continual training in all facets of the dealership now! Connect with the team and discover the difference people-power makes.

AROUND THE ASOTU-VERSE

Learn all the best ways to help your dealership stand out with strong marketing strategies on this morning’s episode of All Things Used Cars. Check it out here!

AUTOMOTIVE

Motor Morsels: Tesla, Toyota, and BMW

Tesla emerged victorious in its battle against Delaware over direct car sales after the state's Supreme Court overturned a ruling that prevented the EV maker from opening a dealership there.

The previous ruling was based on the state’s Motor Vehicle Franchising Practices Act which prevents automakers from owning dealerships. However, Delaware’s high court recognized Tesla as a unique business model, thus excluding them from the same restrictions as legacy car-makers.

The win not only allows Tesla to offer direct-to-customer sales in Delaware, but it also sets a concerning precedent for further US expansion.

Yesterday, Toyota's top scientist emphasized that battery electric vehicles (BEVs) alone cannot be the auto industry's sole solution to combat climate change due to unavoidable resource limitations.

Chief Executive of the Toyota Research Institute, Gill Prat, said that while BEVs can make a positive impact in countries with renewable infrastructure in place, in regions where coal is still prevalent, hybrid vehicles will ultimately be more effective in reducing CO2 emissions.

While the company does intend to introduce ten new BEVs by 2026, they still don’t want you to forget about all their Prius’ out there.

BMW has been on a quest for more than a decade to integrate virtual reality into their cars, but pesky motion confusion has stalled their progress—until now.

With a little help from Meta, they've finally cracked the code. By connecting their vehicles' sensors to Meta's tracking system, they’re paving the way for exciting XR (extended reality) experiences like assisting drivers in crowded parking lots and highlighting hotspots with AR glasses.

Cause, ya know, paying attention to the road gets boring.

Telling it like it is - Special treatment for Tesla, Toyota’s resource concerns, and the license plate game is old news.

TECHNOLOGY

Optimus Musk

Optimus, aka Tesla Bot, is shedding its shoddy image with some impressive new footage of multiple functioning prototypes.

Elon Musk recently provided an update on the humanoids at Tesla's annual shareholder’s meeting, revealing extraordinary capabilities like…picking up objects from one container and putting them into another container. 

*hold for applause*

Tesla intends to leverage its existing hardware and AI expertise to develop a valuable and cost-effective robot. Despite Musk's usual grand promises, it's hard to ignore the skepticism surrounding his ability to make these metal men a reality.

Presumably, Tesla will begin production on the bot sometime after the company delivers its long-awaited Cybertrucks. In other words, it’s gonna be a minute.

Telling it like it is - Anyone else think Elon missed a golden opportunity to name this thing Optimusk?

Quick Hits

• Montana becomes the first state to ban TikTok, prohibiting the app from being downloaded or operating within the state. 📵 

• Uber lifts age restrictions allowing 13 to 17-year-old passengers to ride unaccompanied by a guardian. 🧒

• iPhones will soon be able to mimic your voice with a mere 15 minutes of training. 🗣️

History

• 1884: The Ringling Brothers circus premieres. 🎪

• 1962: Marilyn Monroe sings a sultry "Happy Birthday” to JFK before 15K attendees at Madison Square Garden. 🎂 

• 1987: The first American Comedy Awards go to Johnny Carson and Betty White. 🎭 

• 2022: Mercedes confirms the sale of the world's most expensive car - a 1955 Mercedes-Benz SLR coupe for $142M. 🎩