Pi Day is for EVs, We Guess

March 14, 2024
It isn’t Pi day if we don’t mention it, and we are excited to ask Michael Wood what his favorite “pie” is. Today, we are all in the EV space chatting about broadening lineups for Hyundai, VW, and Jaguar.
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Show Notes with links:

Hyundai is gearing up to expand its electric vehicle lineup with the IONIQ 9, a first-of-its-kind three-row electric SUV from the automaker. As the anticipation for its official debut builds, we've been treated to glimpses of its large, sleek design through testing footage.some text

  • The IONIQ 9, Hyundai's first three-row electric SUV, follows the success of the IONIQ 5 and 6, with the IONIQ 5 ranking as the sixth top-selling EV in the US last year.
  • Utilizing Hyundai's E-GMP platform, the IONIQ 9 promises exceptional space and performance, possibly offering more rear legroom than luxury competitors like the Cadillac Escalade.
  • Set to start production in the first half of the year, with US sales expected in mid-2025, the IONIQ 9 will be manufactured at Hyundai’s new EV Metaplant in Georgia, aiming to qualify for the $7,500 EV tax credit.
  • The brand is expected to unveil the model in June.

Volkswagen, once embroiled in the Dieselgate scandal, is now at the forefront of the electric vehicle revolution, embarking on its most ambitious product launch to date on its way to a 100% EV future.some text

  • VW's transformation into an EV powerhouse is marked by the announcement of over 30 new models across its brands, aiming for a record year in 2024.
  • "We will invest in our last-generation of ICE vehicles,” which are especially key for hybrids, board member and CFO Arno Antlitz said. Then, he said, “These investments are going to be phased out.”
  • In 2023, the VW Group saw deliveries rise 10% globally with an operating profit of €22.6 billion (about $25 billion.)

Jaguar is embracing an all-electric future with plans to exclusively produce electric vehicles by 2025, including luxury SUVs. This bold transition marks the end of the line for its internal combustion engine (ICE) models as Jaguar seeks a fresh start with a trio of new electric vehicles on a brand-new platform.some text

  • Jaguar will discontinue all current ICE and EV models, including the I-Pace, by 2024 and 3 new electric vehicles, including SUVs, will replace the existing lineup, signaling a major shift towards sustainability and innovation.
  • The introduction of a 600 bhp electric four-seat GT car, comparable to the Porsche Taycan, will kickstart Jaguar's new era, with indicative pricing around $127,000 and a range nearing 400 miles on U.S. EPA methods.
  • "The most powerful and impressive Jaguar ever produced" signals the brand's aim to compete in the high-performance electric sedan market against rivals like the Audi e-tron GT.
  • Jaguar's historical significance, from its origins in 1922 to becoming a symbol of British luxury and innovation under Tata Group's ownership, underscores the brand's enduring legacy and adaptability to future automotive trends.

Kyle Mountsier: 0:20

Good morning, Thursday, March 14, we got a whole new friend sitting over here next to me, it's Michael, Michael Wood. You might know him from another podcast, we have the wheelhouse but we're talking on Pi day isn't it they

Michael Wood: 0:35

stopped when they see me today was kind of created by all those geometry competent companies to you know, sell more geometry.

Kyle Mountsier: 0:44

Not Hallmark, definitely the geometry. They were like, they're like, We got to sell more textbooks. We're gonna make it. I don't know if that works.

Unknown: 0:56

what's your what's your what's like, you

Kyle Mountsier: 0:59

have to ask that question right on page 100%.

Michael Wood: 1:01

It was my mammals chocolate chocolate pie. Like nobody can replicate it. I don't care if you have the recipe. You don't have mammals touch.

Kyle Mountsier: 1:08

That's right. Yeah, there's something about grandma ma'am. or whatever you call her like the whatever chocolate she has, like it probably has some sort of drugs or something in it. You don't know that. There's something addictive about coming back to it, whatever it is. I my my grandma, it was It wasn't pie, but it was like chocolate chip cookies. They just tasted different than everybody else's in the world. And they were probably storebought but they were in grandma's cookie jar. Right? Man, hey, you're gonna be at at a sudo con right here, just over 60 days. We are like, like I just said just over 60 days away, the early bird pricing on that ends tomorrow. Also, if you're a sponsor, and you're looking to be there and industry partner, we've got some updated changes the expo floor is going you're going to want to contact our director of partner relationships and Marie about that, if you know her, if you're a dealer, you're gonna want to get your ticket because you're gonna want to hang out with Michael, you'll probably learn in the next 10 minutes exactly why you're gonna want to do that. Also, the Auto Collabs podcast that we have, where we do long form interviews of people that that we really dig into specific topics are personalities. We've got Greg Gulen from Reynolds and Reynolds, the CMO they're talking about a lot of the conquest opportunities, retention, it was a very very diligent podcast about exactly what the conversation was geared toward what they're seeing from all of the registrations and sales and cross sales reports that they get the access to so you're gonna want to check that out. But other than that, let's get into let's get into talking about what's going on in the world of EVs. Today it's all EVs. I said before show like I don't even know if I love this, but it is what it is. Sometimes you gotta talk about EVs. Hyundai is gearing up to expand its electrical vehicle lineup with the ionic nine recently announced early in March. But now it's been seen out in the wild. It's a first of its kind three row electric SUV from Hyundai. The anticipation for its debut is building and there's been glimpses of its design now through some testing footages I think we maybe have a photo up there of some of the the footage that we've seen that electric was able to show so here's a little bit of the details of the ionic nine. It's their first three row SUV. It skips number seven and eight coming after the ionic five and ionic six. The ionic five last year was the top selling or the six top selling Evie in the US. The ionic nine will sit on their E GMP platform that allows for a little bit more space, it will be similar to the size of almost the size of an Escalade. So really big. From the Eevee perspective. They aim to start production in the first half of this year, with sales expected to be in mid 2025. Sorry, first half of next year. And because it's going to be made in the new mega plant in Georgia should qualify for the $7,500 Evie tax credit. The full unveiling is proposed to be in June a totally different look for Hyundai.

Michael Wood: 4:39

Yeah, I mean, I think it's a pretty good looking vehicle. I mean when you sent it over this morning reading the article. I hadn't seen it yet. And I've been pretty impressed with a lot of the Hyundai units so far. Excuse me. So once a month we generally cross training at our stores and we had them bring the ionic six over to train against the ID four. And I mean, I had to say I was I was pretty impressed with vehicle. It's a beautiful, beautiful Eevee and Hyundai seems to be getting it right, you know, setting it up with the consumer with the charger, you know, kind of taking on the roadblocks to electrification, saying like, we're gonna blow them up for you and just make this nice and easy. You know, one of my sales associates at my Landover store, he actually just leased an ionic six and within a month, he had his level two charger installed at his house use the credit from the manufacturer, they get it they understand what it's going to take to get people to take the EVS. Yeah,

Kyle Mountsier: 5:29

you know, I think they've done that. Not just in EVs, but ice vehicles over the last 10 to 12 years, they've really shown what it looks like to do quality, not just pre sales, but after sales and retention. And so, yeah, I think well, one, first of all, I think that you bringing these other cars to your inventory, like if there's if there's not groups that are going, Hey, how do we get this car from this person to over here so that they can cross train on an exactly what's known, that's like, that everybody just got enough. Enough value out of this pod this morning to make sure and do that. And yeah, and then and then the other piece of like, adding the charger, because I think that's one of the biggest stressors on 100%

Michael Wood: 6:22

is my wife has a P have, it made a world of a difference. Before we had the level two charger installed at our house. It was just like driving a nice vehicle. But as soon as we got that level two charger installed, you know, it's kind of a game for her now, you know, she comes home, she's like, Oh, I've got 23% left vape. And then, you know, we started looking at the Dominion Power, we're like, alright, well, we're gonna go down at 10 o'clock and plug it in. And, you know, people look at it as like a barrier, but it's actually become kind of quite fun for both of us. I do it. And she's like, I haven't put gas in my car in like four weeks. And she still said that three quarters of the tank. But this is a person that, you know, six months ago, if you'd had a conversation with her about buying an Eevee it would have been a non starter and had a P have gave her the comfort but I think Hyundai is doing it right. You know, I started selling in the business selling Toyota's and when I had a customer that came in, and they're like, I'm looking at the sonata, I'm looking at the Camry and I'm like, Okay, go ahead, look at it. I know you're gonna come back, and you're gonna buy my Toyota, but here we are. 12 years later. I mean, look what Hyundai has done. And it's impressive. It really is.

Kyle Mountsier: 7:23

It's not a question in the YouTube chat said Do we think Hyundai breaks the ionic lineup into its own brand like Genesis seems to be following a similar pattern.

Unknown: 7:36

I see that.

Kyle Mountsier: 7:38

Yeah. I would be super hard pressed to see that. Because I think that the move is that, you know, the whole thing goes, Evie. And Ionic is just the way that they that they branch into that it's not like they're going to spin it off and keep Hyundai ice vehicles for the next 20 years.

Michael Wood: 7:55

And I think if we listened to the smartest people in the room, Toyota, I think that we're going to find that most manufacturers if they're smart, will make sure that they're offering all derivatives for their customers and not not forcing them into one choice. And if you want to buy an ice by an ice if you want a hybrid if you want to pee, however you want an Eevee you know that's the road to the future.

Kyle Mountsier: 8:16

Well, speaking of only offering one choice subway the last two stories about two manufacturers actually looking to do that first Volkswagen once all up in involved in the diesel gate scandal is now at the forefront of the Evie revolution. Looking to embark on its most ambitious product launch to date on its way to what they're considering 100% Evie future. The first announcement by the CEO at their annual summit this week was that they are going to be across its brands. So this isn't just Volkswagen but all its brands are going to be announcing 30 new models. In the year 2024. CFO are no analyst said we invest in our we will invest in our last generation of ice vehicles. Then he said these investments are going to be phased out last year at the Viga VW group saw deliveries rise 10% globally globally with an operating profit of just over$25 billion. us so it's not like they're they're struggling by any means but there's definitely a move from them to go and and take the position that 100% Av is the way to go.

Michael Wood: 9:37

I think it's a bold strategy. I think that it could end up being a maker break kind of thing for the VW brand. You know, you're putting your cards out there going all in on this, you know, but with that said it's also a really exciting time. I mean that Id buzz you can't just look at that thing without smiling and you know, that people don't even know when they can order them yet and we've already got an order list of 30 plus at my dealership so So it's gonna be a hot unit, it is really going to be a hot unit. And I think the opportunity to sell accessories on that unit as well, it's gonna be super, super fun. Because it's just a you know, that's the kind of vehicle if you think back to the original bus itself, I mean it was so accessorized and then talk about the 87 I think it's nice to see finally a legacy OEM coming out with a, a, an Eevee. That kind of looks like if you compete with a Model S. I mean, I personally am excited for the 87 and will likely take one as a demo when we get one and after we sell through the you know, the early adopter phase of that of that vehicle. But, you know, I think it's a cool looking car I really liked would be the VW has coming out, I just would love to see a P HEV. option. And maybe some hybrids, but doesn't look like it's gonna happen. Yeah, and

Kyle Mountsier: 10:47

for Volkswagen, I think like from a branding perspective, especially if they harken back to some of the legacy branding that they had. With you know, with the van with the original bus right? Is, is something that they could lean on this very like earth friendly, eco friendly branding, where they maybe lost that a little bit with you know, like the STI and stuff like that in the you know, like that. That thing was not anywhere eco friendly. So they maybe get to harken back to that with stuff like this. And obviously they're there the brands premium lines are already making moves toward Evie and we see you know, we were talking about the the Porsche Tyco on yesterday as far as like just supercar Evie. So they they've they've taken the position across their brands, not just in VW.

Unknown: 11:42

Yep, absolutely. That is a fun car if you've ever driven one.

Kyle Mountsier: 11:47

Quickly, haven't done that. But yeah, seeing as it did beat the the the the Tesla plaid, it's, it's got to be a whole lot of fun. Ah, see, we were talking about the Segway game to start and I totally missed it, it's gonna have to stop. So another brand that you know very well about, because it's one of your stores. Jaguar is embracing also an electric, an all electric future with prints plans to exclusively produce electric vehicles by 2025. We actually talked a little bit about this on the wheelhouse last week. This is a new recent announcement and comes amidst a whole host of other speculations around the Jaguar brand that I'm sure we'll get into the by 2024. There is a goal to be have three new electric vehicles, there is an introduction of a an electric four seat GT car comparable to the Porsche Ty can. And pricing is the biggest change with pricing starting in the low six figures all the way up to the mid to hundreds for what looks to be of switch to a fully high luxury brand. Additionally, and I think you've stated this and can maybe speak to it, the introduction of reduction of number of rooftops in the US and a more an a much more look at at a premium brand alongside the EB transition.

Michael Wood: 13:24

Yeah, I think what we're really seeing here with Jaguar is we're going back to our roots back to the heritage, you know, we're going to be a, we're going to be pushing the edge when it comes to the styling of the vehicle. And with that they're going to, you know, really upstream the price point, and I think it's gonna be worth every penny. I mean, I was very fortunate. Last year, my dealer principal gave me a call and he said, Hey, Mike, there's a conference over in the UK, I'm gonna need you to go to it. And of course, I begrudgingly said yes, because I had never been to Europe before. He jokingly said, he goes, this is a young man's game. He goes, it's about a three day trip. And he goes, and this isn't for me. And I said, Alright, perfect. I'll take it. But I got to go over to the retailer conference. And I you know, I personally got to see the future of Jaguar. And although I can't say too much about it, because we did sign some NDAs all I can tell you as the vehicle is absolutely beautiful. It is very sophisticated, it is elegant, it is modern, and it goes back to the lineage that is truly Jaguar, we you know, we kind of lost our way for a little while trying to become a volume luxury brand. We deserve and rightfully so should be a boutique style luxury brand. And that's kind of what they're looking for. And that's why we're looking to reduce the amount of rooftops in in the US. They did offer some things to do that last year as well. And there were some some dealers that gave up. I'm fortunate I worked for dealer who actually has the oldest Jaguar dealership in the United States, so we won't be going anywhere. We're keeping the brain Oh,

Kyle Mountsier: 14:51

yeah. Well, yeah. And I mean, you think about like the, I mean, I remember I grew up 80s 90s Like the Jaguar was like V car, right? Like if you could get in a jaguar, it was the thing. And so you know, to kind of see that lose its ether in the 2000s and 2010s. And then now hey, we're coming back. It's exciting. What you know whether or not that clientele once and all the future we'll see yet to be determined, but I, I'm guessing that they'll be attracting a net new audience with everything that they've got going

Michael Wood: 15:30

on. I think it'll take time, but I think it'll come back to being kind of like a Range Rover esque type vehicle, it'd be a status symbol. It's not going to be the daily driver. It's going to be the vehicle that they drive to the red carpet. Because when when you see these vehicles when the pictures get leaked in q3, q4 of this year, I mean, it's unreal. It's beautiful.

Kyle Mountsier: 15:49

That's amazing. Well, hey, Michael, thanks for joining us today. It was to get a little little insight into someone that's seeing this stuff on the daily. See, you're on vacation, we

Unknown: 16:00

got dogs barking in the background, no big deal. We're serving customers.

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