AUTOMOTIVE
Wholesale Prices Take A TIny Dip
You know the saying, 9 steps forward, 1.3 steps back. The latest data from the Manheim Used Vehicle Index shows a 1.3% decline in wholesale used vehicle prices from May to June. Value is still up 9.7% year over year.
Telling it like it is — Manheim needs a stamp that says “down, but still up.”
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AUTOMOTIVE
Polestar Coming In Hot
Over the first half of 2022, Polestar doubled its sales and THEN added 25% to that. The Volvo spin-off company reports that over Q1 and Q2 of this year they increased sales by 125%.
Out to get ya! Polestar has been clear in its plans to be Tesla's biggest competitor. Growth like this carries some pretty clear money-where-their-mouth-is energy.
Telling it like it is — Polestar will also compete against Tesla by hiring a CEO who posts hot takes on Facebook 8 to 17 times a day.
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AUTOMOTIVE
The Future Of Energy
Every week we see new plans aimed at getting ahead in the "future energy" race. While some ideas are a flash in the pan, eventually, one will be the spark that ignites the imagination of the next era of vehicle power and beyond.
🌞 🌋BMW is exploring investments in solar, geothermal, and hydrogen energy. The company hopes to reduce its dependency on natural gas, saying an embargo on Russian gas would bring the industry to a standstill.
♻ 🌲Volkswagen is teaming up with Redwood materials to reclaim old EV battery materials for use in new productions. The company has been seriously pushing toward electrification. It has 6 plants planned where the reclaimed materials can be used.
🔋 🥼For years, several companies have been working to crack the code of longer battery life, quicker charging, and cheaper production. Several companies have moved from the lab to the factory to mass-produce battery cells with the once-only-dreamed-of qualities. OEMs will soon begin road testing what could be the answer for many of the issues facing EV adoption.
TL:DR — BMW is looking to invest in renewable energy, VW is going dumpster diving, and EVERYBODY is trying to invent the battery of the future.
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CLUBHOUSE
All Things Used Cars
What has 5 wheels, at least one battery and more disruptions than a baseball game in a hurricane?
No, it's not the Cybertruck's production woes, it's The Future of Automotive Retail.
If there is anyone qualified to speak about that topic, it's Steve Greenfield, Founder and CEO of Automotive Ventures.
This week's All Things Used Car room on Clubhouse will feature Steve Greenfield and David Long, plus you when you join the conversation.
Every week, without fail, the level of wisdom and knowledge shared during All Things Used Cars increases. Make sure you listen in on Friday at 9am EST / 6am PST. There's a reason it's the best conversation in the industry.
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TOGETHER WITH DIGITAL AIR STRIKE
Meet Your New Study Buddy…
Pop Quiz:
Of 2000+ surveyed, what percent of car buyers said online review sites helped in their dealership selection process?
A. 40% B. 12% C. 93%
Of the same buyers, what percent were asked to review the dealership after their experience?
A. Less than half B. Not enough C. All of the above
If you answered "C" both times, you are correct!
Digital Air Strike's 9th Annual Automotive Customer Experience Trends Study is now available. Packed with answers only the customer can give about their experience, the study turns gathered data into actionable insights for use in any dealership or service center setting!
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MONEY AND MARKETS
Euro And Dollar Hit Same Value
For the first time in 20 years, the Euro is valued under the US Dollar. Energy concerns stemming from Russia's invasion of Ukraine have the Eurozone bracing for recession. To combat inflation and chase off rumors of a wider impacting recession, policymakers are considering the EUs first rate hike in 11 years.
Telling it like it is — When you share this news with people, make sure they know you are not saying “gyro” because they will be heartbroken to learn that deal is too good to be true.
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CULTURE
News Viewership Is Down
Axios released data showing Americans are just not interested in the news lately. With cable media falling 19%, visits to sites down by 18%, and news company social media engagement taking a massive 50% dive, people are tuning in less than before the pandemic.
The high water mark for viewership centers on the 2020 election. Some wonder if viewers are tuning out negative media or simply switching away from more prominent mainstream media outlets.
Telling it like it is — This looks like a job for ASOTU! Like, literally, we’ve got news AND community if you know anybody who needs some.
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QUICK HITS
- NHTSA says no custom EV sounds 🙁
- Inflation hit a 40-year high in June.
- Men indicted for stealing and trying to sell original handwritten notes from the Eagle's "Hotel California"
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