Industry Round-Up: BMW, Stellantis, Used Pricing, and Volvo

🚗 BMW's Seat-Heat Saga

• What happened? BMW axed its controversial $18 monthly fee for heated seats.
• Customer Reaction? There is a major backlash for charging extras on pre-existing car features.
• Not the first time: Reminds folks of the failed attempt to charge for Apple's CarPlay.
• Trend alert: Other automakers are eyeing similar monetization strategies.
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⚡ Stellantis' EV Battery Mission

• Goal: Produce EV batteries that are 50% lighter by 2030.
• Why? The current batteries = too heavy! Innovation is key.
• Investment: €40 million in Turin Battery Tech Center + new facility in Windsor, Canada.
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💲 Used Vehicle Pricing Trends

• Current scoop: A 0.2% price increase from July to August 2023, per Cox Automotive.
• Comparison: Prices are still high but down 7.7% from August 2022.
• Prediction: 📉 Cox sees a return to pre-pandemic price levels by 2028.
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🔌 Volvo's Big Electric Leap

• Grand Plan: Full electric transition by 2030.
• Strategy: CORE+ initiative to boost efficiency, cut costs, and gear up the workforce.
• Job Shifts: Cutting >10% white-collar jobs in the US & Canada by October.
• The Future: Hiring spree! Looking for EV experts to propel the electrification wave.