#737 - 🚗 Way Way More

TOGETHER WITH

Monday!

Welcome back to another week in the best industry in the world. Today we have info on Tesla’s delayed robotaxis, Toyota’s new hybrid, the KiaBoyz new tech, Stellantis losing brands to China, Ford borrowing a design from Polestar, and Red Bull’s $7.5M car.

But first, we’d love to invite you to LinkedIn, where we’re honoring some of retail auto’s community leaders for embodying the More Than Cars vibe.

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

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BUSINESS

One: Tesla, Toyota, Hyundai, and Kia

When I was a kid everybody got really into yo-yos for a whole year. I never got one and worried life itself was leaving me behind. In actuality, it was one of many trends that happened and then vanished.

Most news is written sensationally, so each trend seems like the beginning of the whole future. But really, more things will fade than persist.

So, let's read and stay informed, but never give ourselves over to the voice that says we may get left behind if we don't have the right yo-yo.

Ya feel me?

-Chris

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Tesla Taxi Delayed

Tesla has postponed the reveal of its robotaxi from August to October to allow more time for prototype development. Elon Musk envisions a future with fully autonomous, purpose-built robotaxis, potentially named "Cybercab." However, Tesla's autonomous technology remains unproven, and it is facing significant regulatory and legal challenges.

Competitors like Waymo and Cruise are ahead with operational autonomous vehicles. Following the announcement of the delay, Tesla shares dropped 8%, ending an 11-day rally. Previous promises by Musk about full autonomy and robotaxis have not materialized, and Tesla's existing systems require driver supervision.

Toyota: Corolla Hybrid, Updated GR86, and The Olympics

• Corolla Hybrid: Toyota announced the Toyota Corolla Hybrid, praised for its efficiency and affordability, features a 1.8-liter inline-four hybrid engine, a straightforward interior, and excellent fuel economy. Will it live up to its namesake? Time will tell.

• 2025 GR86: They also announced the updated 2025 GR86, which includes enhanced shock absorbers, power steering, and throttle control, along with a new Hakone Special Edition featuring unique aesthetics and performance upgrades. Affordable sports car? The morning commute will never be the same.

• Mirai Controversy: Scientists have criticized the use of Toyota's hydrogen-powered Mirai in the Paris Olympics, urging a switch to battery electric vehicles due to the environmental impact of hydrogen derived from fossil fuels.

Hyundai Investors/KiaBoyz

• Hyundai: Despite demands and protests, Hyundai has ruled out special share allocations for Indian workers in its upcoming $3B IPO. The company plans discussions to address concerns but has not provided details on timing or participants.

• Kia: Kia surpassed Hyundai in U.S. electric vehicle sales in Q2 2024, driven by the new EV9. Kia sold over 29,000 EVs in the first half of 2024 and now holds 5.4% of the U.S. EV market, compared to Hyundai's 5.1%.

  
  Additionally, KIABOYZ in Cleveland are using devices to intercept key fob signals, making it easier to steal cars, particularly affecting Kia and older car models. They upgraded their stealing tech faster than Kia upgraded it’s anti-stealing tech…

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MORE THAN CARS MOMENTS

Way More

You’ve heard us talk about “Loving people more than we love cars” a lot since we first heard Liza Borches say it. Now, we are three episodes into a docu-series highlighting the people, teams, and stores living the More Than Cars mindset.

Head over to this LinkedIn post and tell us who comes to mind when you think about loving people more.

BUSINESS CONT’D

Two: Stellantis, Ford/Polestar, and Red Bull

Stellantis Gains AI, but Sheds Brands

• SoundHound AI Partnership: SoundHound AI's voice technology, integrated with ChatGPT, is now live in Stellantis-owned brands like Peugeot, Opel, and Vauxhall across 11 European markets, with further expansion planned. This collaboration marks a significant innovation in the automotive sector.

• Defunct Brands: Italy's government is considering taking over defunct Stellantis brands, Innocenti and Autobianchi, to offer them to Chinese companies for manufacturing in Italy. This move aims to boost Italy's auto industry. Stellantis, currently in talks with the government to increase Italian production, has not been informed of these plans.

Ford-Star?

Ford Capri EV: Ford unveiled the all-electric Capri EV, featuring up to 390 miles of range and sports car-like performance. Built on Volkswagen's MEB platform, the Capri EV offers impressive features such as fast charging and advanced driver assist functions, aiming to revive the iconic Capri brand with modern technology and design.

Polestar Reaction: Polestar's CEO, Thomas Ingenlath, noted the Capri EV's striking resemblance to the Polestar 2, highlighting the competitive nature of the electric vehicle market.

Polestar'sPolestar's Growth and Expansion

Polestar reported an 80% growth in global deliveries for Q2 2024, with significant expansions planned. Production of the Polestar 3 will start in South Carolina by the summer of 2024, and the Polestar 4 will begin in South Korea in 2025. Polestar also announced new market expansions and leadership changes, aiming to strengthen its position in the global EV market.

Red Bull Made A Car: It's Exactly What You’d Expect

Well, exactly what you’d expect minus real wings…

Red Bull has launched its first production car, the RB17, a 1,200-horsepower V10 hybrid hypercar designed for track days only. The RB17 promises F1-like performance with a 0-62 mph time of 5.3 seconds and a top speed of 217 mph.

Each car, priced at $7.5M, offers a bespoke experience for 50 lucky customers, including personalized driver development and customization options. This bold venture reflects Red Bull's commitment to power, speed, and innovation, mirroring its energetic spirit.

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Imagine a new person has just been put under your care for training. Hit reply and tell us the first thing you teach them.

Quick Hits

• Despite some indicators, wholesale prices increased in June, meaning inflation is still elevated. 😢 

• The new Captain American movie trailer introduces Red Hulk. 🇺🇸 

• Federal regulators have grounded the Falcon 9 rocket following a failed mission. 🚀 

History

• 1914: Dodge Brothers make their last Ford part. 🔧 

• 1954: America's first jet airliner, the Boeing 707, takes off from Renton, Washington on its maiden flight. 🛩️ 

• 2003: AOL Time Warner disbands Netscape. The Mozilla Foundation is established on the same day. 🌐 

Thanks for reading, friend! Regardless of the volatility in the world right now, we’re determined to focus on the positives. We just want to keep lifting up our community and spreading the love. We hope you’ll join us.