AUTOMOTIVE
Used Car Prices Show Signs of Softening
With used car prices jumping 50% or more over the course of the pandemic it seems the high water mark is behind us. January saw the beginning of prices returning to normal with an average 2.1% drop for the 1-3 years old range. While the numbers are small, it is a hopeful indicator that the rest of the market is on its way down the long road back to normal.
Prices are expected to remain elevated for the rest of the year due to existing demand and the ongoing chip shortage that has stifled supply. But with reports of chip production on the mend, this small drop may become a snowball.
Telling it like it is - Good thing major news outlets now know the same thing all used car managers have known since…
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AUTOMOTIVE
EV Sales in Europe Boom
EV sales were higher than diesel models in Europe for the first time last year. While diesel sales fell 33%, Battery and Plug-in EVs saw a 66% increase in sales. The boom is being traced to the increased popularity of companies like Tesla and VW's electric model with consumers and government incentive programs, as well as tougher regulations on diesel passenger vehicles.
Gasoline vehicles held the lead but saw their numbers drop by 17% as well. As more automotive manufacturers roll out EV options and move away from traditional fuel one can expect this trend to continue.
Telling it like it is - We need to start thinking responsibly about what sort of future we are creating for Vin Diesel.
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AUTOMOTIVE
Top 30 Auto Group Donates $196k to 17 Charities
Sheehy Auto Stores announced donations to 17 charities across its service area as part of its annual campaign.
"We are pleased to continue our annual year-end tradition of giving back to nonprofit organizations throughout our local communities. Each of these charities do so much year 'round to improve the quality of life of many families and to assist those in need right in our own backyards. This is our way of giving thanks for all they do." " said Vince Sheehy, President of Sheehy Auto Stores
Telling it like it is - We dare you to name another retail industry that donates as much as Retail Automotive. We’ll wait…
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CRYPTO
Crypto-Linked Visa Hits $2.5 Billion in Its First Quarter
In a recent earnings call, Visa reported their customers used their new crypto-linked payment service to pay for $2.5 billion dollars worth of retail goods and services. This accounts for 70% of the company's crypto volume for 2021, and signals consumer value for the access the option provides.
What’s next? VIsa CEO Al Kelly shared a goal of continuing to lean into the crypto space and becoming a key partner in seeing crypto offerings continue to grow. As the payment company seeks to partner with more crypto wallet services, the number of merchants accepting such payments has already grown to almost 100 million.
Other members of the payment card industry, such as Mastercard, are seeking unique ways to engage with the crypto market as well, with crypto-based rewards capturing attention as potential entry points for folks to begin adapting crypto as part of their existing financial spending and planning.
Curious how it works? Our friends at Motley Fool have you covered.
Telling it like it is - One the one hand, crypto isn’t going anywhere, and on the other, it’s going everywhere.
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CULTURE
Former Teachers Finding Hopeful Future in Private Sector
We found your next hire! Educational services saw the sharpest rise in resignations of any industry in 2021. 2+ years into the Covid-19 pandemic, exhaustion and "burnout" are at a high among education professionals. Coupled with a higher potential for career and financial growth, many teachers are finding new beginnings in the private sector.
The Exodus: This mass shift away from the classroom started in early 2020 reaching nearly 550,00 between January and November, a 148% increase and has no clear end in sight.
Hiring managers in the IT services, sales, and software development industries are finding the former teachers well equipped to handle the information-rich, stressful, and highly demanding jobs they need to fill. Changing this exodus into a migration. To Auto??
Telling it like it is - Teachers: I don’t have any money, but I do have a very specific set of skills. Hiring Managers everywhere: You’re Hired!
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