Just Telling It
Automotive Business News 11-22-23
5 Minutes of Fresh Perspective
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A Wake-Up Call
- Ransomware Attack: Suspected involvement of Medusa group, causing system disruptions.
- Data Compromise: Sensitive data, including personal information, is potentially stolen.
- CitrixBleed Vulnerability Suspected: A flaw in Citrix NetScaler devices was possibly exploited.
- Widespread Exploitation: Including government and banking sectors.
- Why it Matters: The line between "Data management" and every other industry is getting thinner. Hackers will find the thinnest places to drill their holes.
Data is the currency of the future. Hackers are outlaws. Dealerships are trains. Not all metaphors work, but this one really tracks if you think about it.
Key Developments in Battery Technology
- Nio & Changan Auto: Joint venture for battery-swapping EVs in China, aiming to standardize batteries and boost Nio's profitability.
- Stellantis & CATL: European factory to produce affordable LFP batteries, which are less powerful but cheaper, enhancing EV accessibility.
- Volkswagen in China: Launches a wholly-owned battery pack plant, advancing in-house EV production.
- Why it Matters: More kinds of batteries mean more kinds of consumers they may appeal to.
Every time a brand sells a battery vehicle, there is a little more gas left for everybody else. It's like a pie, except it is made out of crude oil, going fast, and smog.
Special Charging Rates for EV Renters
- Exclusive Charging Rates: Special rates for Hertz EV renters who are new EVgo customers, with no fees for a year.
- Enhanced Rental Experience: Diverse EV range and affordable, accessible charging options.
- Fast Charging Network Access: High-power fast chargers up to 350kW in EVgo's network.
- Additional Benefits: Access to EVgo Rewards™ and other perks.
- Why it Matters: If somebody offered you free gas for a year, wouldn't you consider buying their car?
Fear the Greeks, even when they bear gifts = fear the subscription-based economy advocates even when the first one's free.
Electric and Hybrid Vehicles Rising
- EU Car Sales Surge: 14.6% rise in sales, with electric cars up by 36.3% and hybrids by nearly 39%.
- China's Hybrid Vehicle Boom: Cost-efficiency driving popularity, with some hybrids cheaper than gasoline cars.
- Challenge for Foreign Automakers: Toyota and Honda face competition from Chinese brands.
- Market Dynamics: US hybrids usually sell at a premium, while they can be cheaper in China.
- EV and Hybrid Competition: Impacting sales of gasoline and HEV models.
- Why it Matters: Call them what you want; US, European, and Chinese auto markets are all just a part of the global auto market. What works for a brand in one place will positively affect its strategy elsewhere.
Shoot for full electrification; even if you fall short, you'll sell a bunch of hybrids in Europe.
No More Super Bowl Ads
- End of a Trend: GM's memorable Super Bowl ads featured celebrities and models like the Chevy Silverado EV and Cadillac Lyriq.
- Strategic Shift: Aligns with GM's focus on EV profitability, delaying launches of new models like Equinox, Silverado RST, and GMC Sierra Denali EVs.
- Cost-Cutting Measures: Initiatives include a $2B fixed cost program and a "Winning with Simplicity" plan.
- Production Focus: Despite advertising cutback, GM progresses with models like the Blazer EV and Silverado EV.
- Why it Matters: GM isn't the only game in town, but they are a realllly big part of the game. What they do with their chips means something to the whole table.
The last Super Bowl ad we remember is "Wasssssup," and we all saw how that went. Great power, great responsibility, and all that.