#698 - 🚗 What's Really Real?

TOGETHER WITH

Howdy, Friend,

Let’s not get so invested in learning from our mistakes that we forget: learning is pretty dope.

Learn from everything. We really can’t afford to not. And if we could, why would we want to?

Keep Pushing Back
-Paul, Kyle, Chris & Kristi

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BUSINESS

News and Metaphors

Sometimes metaphors are hard to follow, but sometimes they help things click. We will let you decide which is which in the metaphors we used below.

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Fiat, Hyundai, and Ford: New Directions

The car world is full of metaphors. For instance, you could say Fiat is throwing it in reverse, Hyundai is activating "sport mode," and Ford is offering free deluxe carwashes. But then again, the only perfect metaphor is the actual thing, so let's look at the news from these companies.

• Fiat is reintroducing a combustion engine to the 500 model in 2026, despite its initial launch as an electric-only vehicle. This move is a broader trend as automakers adjust plans amid cooling EV demand.

• Hyundai is doubling down on EV investments despite a slowdown in EV sales. Part of the investment will go to a $7.6 billion manufacturing facility in Georgia. Hyundai continues to focus on models like the Ioniq 5 and Ioniq 6 and will soon have access to Tesla's Supercharger network.

• Ford has upgraded its F-150 Lightning trucks with new technology and lower prices. It is also expanding its hybrid lineup, responding to consumer preferences for hybrids due to charging infrastructure challenges.

VinFast Slows Down (Again)

We'd all love to see a world where the US auto industry and the industry abroad partnered for mutual success and the benefit of US car buyers, like gardeners and bees. But for now, the competitiveness of everything has us wondering: would you rather get a box of Chinese bees in the mail every day or have a Vietnamese bee hive in your laundry room?

VinFast is considering delaying its $4 billion factory in North Carolina due to slow US sales and financial challenges.

What kind of delay are we talking about?
The factory was initially set to open in 2024, but operations have already been pushed to 2025. Another delay is possible.

Does this mean anything at all for US dealers?
This delay could reduce the expected influx of VinFast EVs, impacting dealers' inventories and sales plans.

Don't they have factories back home?
The factory is crucial for VinFast to leverage US EV subsidies and was praised by President Biden for creating over 7,000 jobs.

The EV Slowdown: What's Really Real?

The EV conversation is a lot like badminton: It seems to go back and forth a lot, but without the ferocity of Tennis (you need a gas engine for that).

While some headlines suggest a waning interest in electric vehicles, the reality shows a more nuanced picture. Brands like Hyundai, BMW, Kia, and Cadillac have reported significant growth in their EV sales. Conversely, due to its heavy reliance on the Model 3 and Model Y, Tesla's recent sales slump has contributed to the broader narrative of a slowdown. This has led some automakers to reassess their EV strategies, often shifting focus to hybrid models.

Political polarization also influences the EV market's dynamics. Most EV opposition stems from political beliefs and concerns over China's dominance in the EV supply chain. Despite these hurdles, the EV market remains on a growth trajectory, with several automakers poised to achieve substantial sales milestones in 2024. 

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Like throwing water balloons at joggers, that was fun for me, and I hope you enjoyed it too.

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MORE THAN CARS MOMENTS

Stars and Stripes

Our pals at Walser Automotive Group recently took to LinkedIn to praise the inspiring efforts of their newly formed veteran resource group, and we just had to share.

Last Friday, the dedicated “Veterans at Walser” team rolled up their sleeves to prep American flags alongside the nonprofit organization Flags For Fort Snelling. Their mission? To ensure that every grave at Fort Snelling National Cemetery was adorned with red, white, and blue for Memorial Day.

This annual tradition is a true labor of love as volunteers work to remember the 229,000 service members resting at Fort Snelling with fresh flags, creating a powerful visual reminder of the true costs of freedom.

It’s so heartwarming to see companies like Walser Auto prioritizing veterans, community, and compassion. It’s a refreshing reminder that some values, like paying tribute to those who paved the way before us, never go out of style. And that's something worth celebrating every day.

AROUND THE ASOTU-VERSE

Quick Hits

• In March, 30% of US energy consumption was produced by renewables. ☀️

• The National Samsung Electronics Union, Samsung's largest workers' organization, has plans to stage a walkout next week. 🪧

• The legality of the TikTok ban is set to be argued before the U.S. Court of Appeals this September. ⚖️

History

• 1806: Future U.S. President Andrew Jackson kills Charles Dickinson in a duel after Dickinson accused Jackson's wife of bigamy. ⚔️

• 1868: "Decoration Day," later re-named Memorial Day, is first observed in the United States. 🎖️

• 1967: Daredevil Robert "Evel" Knievel's motorcycle jumps 16 automobiles in Gardena, California. 🏍️

Thanks for reading, friend! It’s always a pleasure to research, read, and share the stuff happening in our corner of the world, so please hit REPLY and let me know what you’re reading anytime. -Chris