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

Cold Seats, Heavy Batteries, Dipping Prices, and Hiring Plans. 🥶
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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.

⚡ 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.

💲 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.

🔌 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.

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