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- 🥤Tesla’s Robot Fumble, Honda’s EV Future, and More: This Week’s Auto Industry Shakeups
🥤Tesla’s Robot Fumble, Honda’s EV Future, and More: This Week’s Auto Industry Shakeups
Chris Reeves
October 14, 2024
TL;DR
Tesla’s Optimus robots are still more human puppet than AI overlord, and their Cybercab? Let’s just say it’s still idling. Honda promises hands-free joyrides in 2026, while Stellantis scrambles to stop a dealer revolt. Nissan’s letting you sell power back to the grid (cha-ching!), Rivian’s rolling out a solar cover that powers everything but the truck, and Renault’s banking on hybrids to save the day. Oh, and don’t forget Mini’s electric JCW models—they’re fast, but you’ll have to wait for the U.S. release.
This Digest
🤖 Tesla’s Optimus & Cybercab: More Hype, Less Help?
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After Tesla’s We, Robot event, two big takeaways stood out—and neither was particularly impressive. Optimus robots? They needed some strategic human ‘help’ to appear more autonomous than they really are. Cybercab and Robovan? Their big announcements landed with all the excitement of a slow-moving traffic jam.
So, what went wrong?
Optimus, Tesla’s big robot hope, clearly isn’t ready to replace your barista yet, as attendees noted that they were “remote-assisted” by humans during the demo. Meanwhile, Cybercab? More like Cyber-lag. Analysts expected more progress but were left with an underwhelming and ‘toothless’ presentation.
Did Tesla’s stock feel it?
Absolutely. Tesla’s shares slid further, down 12% YTD, while Uber and Lyft surged with 9-10% gains. Turns out, a robo-taxi that doesn’t actually drive itself doesn’t inspire much confidence—or investor enthusiasm.
Will these robo-cabs hit dealerships soon?
Not likely. With a timeline for a $30,000 Cybercab stretching into the distant future, dealerships probably won’t see these models anytime this decade.
🏎️ Honda’s 0 Series: Hands-Free, But Not Heart-Free
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Honda’s 0 Series EVs promise to bring hands-free driving to the masses by 2026. With Level 3 autonomy, 300 miles of range, and a "Thin and Light" design, Honda claims it’s redefining the EV experience. Finally, an EV that’s smart, efficient, and—maybe even—fun to drive?
🚗 Stellantis Shakes Things Up—Will It Be Enough?
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With profits down, UAW frustrations, and sky-high prices, Stellantis is scrambling to fix its U.S. business. The CEO promises to exit in 2026, but the question remains—will it be too late?
Stellantis has cut its 2024 profit forecast and seen its stock drop 45% YTD.
UAW is unhappy with Stellantis' failure to uphold contract commitments, with 2023 models stacking up on dealer lots.
CEO Carlos Tavares will retire in 2026 amid a leadership shake-up, including replacing the CFO and North American COO.
Stellantis is facing pressure to lower EV prices and has under-delivered in affordable vehicle launches compared to competitors like Ford.
New Boss, Same Inventory Woes?
Dealers are watching closely as Antonio Filosa steps into his dual role as Stellantis North America COO and Jeep CEO, hoping his leadership will finally move the needle on lingering inventory issues, especially as some lots still struggle with unsold 2023 models. Will Filosa bring the much-needed “shock and awe” to clear out old stock, or will it be more of the same? Only time—and sales—will tell.
🌍 BYD Expands in Europe—But EU Tariffs Are a Headache
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BYD isn’t happy about the EU's tariffs on Chinese EVs, but they’re not slowing down. As they ramp up European manufacturing, will they absorb the tariff hit or pass it on to buyers?
BYD plans to produce almost all of its EV models in Hungary and Turkey to avoid EU tariffs.
Current tariffs include a 17% fee on top of the existing 10% for Chinese-made EVs.
BYD is expanding its dealer network in Germany to boost sales, though sales dropped in the first half of 2024.
Despite challenges, BYD aims to compete with European automakers by sourcing components locally.
🔋 Nissan's Bidirectional ChargeScape: Power Up, Cash In
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Nissan joins ChargeScape, letting EV owners earn money with bidirectional charging. Your car can now send power back to the grid and help lower emissions, all while padding your wallet. Charging smarter is officially the future, and Nissan wants you to get paid for it.
📉 GM’s Quiet Sierra EV Update: Stealth Mode or PR Stumble?
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GMC quietly rolled out the 2025 Sierra EV Denali with a $10,000 price cut—so why all the hush-hush? Let's dive into whether this was a strategic slip or a missed opportunity to flaunt a strong move.
So…why didn’t GMC shout from the rooftops about this?
Who knows? Maybe they didn’t want to steal Tesla’s thunder—or maybe they just realized ‘quiet luxury’ also applies to marketing strategy now.
Is the $10k price drop just a gimmick?
Not exactly. It’s a solid move to compete with Tesla’s Cybertruck—minus the PR circus—and brings the Sierra EV Denali closer to reality for those who weren’t ready to drop $100k for an electric truck.
Should I care about this truck if I’m not buying EVs?
Probably. This price drop signals EV competition heating up, which means good news for your dealership as manufacturers start playing nice with their margins.
🔋 Renault’s Hybrid Bet Pays Off
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Hybrids: The Savior Renault Needed
Renault is quietly succeeding where others are struggling, thanks to its low-cost hybrid technology. As demand for EVs stalls in Europe, Renault’s hybrid sales have jumped 55% in the first eight months of the year. While other automakers focus on expensive EV rollouts, Renault is holding strong in the hybrid market, positioning itself as a bridge between traditional and fully electric cars.
EV Sales Stagnate
However, Renault’s hybrid success doesn’t eliminate its EV issues. With EV sales stagnant at just 12%, Renault needs nearly 20% of sales to come from electric models to meet 2025 EU CO2 targets. Their upcoming Renault 4 and 5 launches will be crucial to bridging the gap.
🌞 Rivian's Solar Tonneau: Adventure with a Side of Solar
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Rivian’s new aftermarket solar tonneau cover isn’t exactly turning the R1T into a self-sufficient road warrior, but it will power your tools and tech while off the grid. Perfect for adventure seekers who want free energy on the go—just don’t expect it to fully charge the truck.
🛻 Mini’s New Electric JCWs: Big Power, Little Noise
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Same Look, New Power
Mini’s first-ever electric John Cooper Works (JCW) models are here, with both the hatchback and Aceman packing 255 hp under the hood. These EVs promise better acceleration and boosted power but maintain that same classic Mini style, even if the differences between the ‘real’ JCWs and lower models might be confusing for customers.
The China Connection
Here’s the kicker: neither model is coming to the U.S. anytime soon. The JCW EVs are currently manufactured exclusively in China, with plans to move production to Oxford in 2026. U.S. dealers may have to wait a bit longer before showing off these performance-oriented EVs on their lots.
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Shared Economy Meets EVs - Lynk & Co’s new 02 EV is built for the sharing economy. The idea? Buy or lease the car, then rent it out through an app to cover your payments. With hourly rates for borrowing EVs already live in Europe, this model could redefine car ownership for future generations.
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