Slashing EV Prices, New Techs From Non-Techs, Speed-baseball

February 27, 2023
It’s time to wrap up February and roll into March as we talk about some major movements in EV pricing. We also talk about a newly launched tech training collab from NADA and the Urban League as well as baseball at 1.5x speed.
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  • In a time of widespread conversations about EV practicality and governmental spending, one of the conversations beginning to dominate the center of the argument is ‘affordability’ and it’s no surprise. With inflation and interest rates still rising, consumers are searching for the right fit at the right budget EV or not
  • Reuters reports that Vietnamese manufacturer, VinFast is giving a deep discount to lease pricing to its first batch of US customers in California with deliveries starting this week
  • Initially it’s VF8 crossover was listed having a lease price of $599 for 24 months, but now that has been reduced to $399
  • The company said the customers who are already taking delivery will pay only $274/mo according to messages to those potential buyers reviewed by Reuters
  • "This is our special offer to VinFast customers for the VF 8 City Edition models in order to stay competitive with other brands," VinFast said in a statement
  • Range for the VF8 is between 191 and 207 depending on the trim level
  • Tesla’s Investor day scheduled for Wednesday March 1st is creating much speculation if there will be a game changing low-cost EV announced as CEO Elon Musk is anticipated to announce the “Third Master Plan” for the company
  • In 2020 Musk said that a $25k EV "has always been our dream from the beginning of the company” however last year the vehicle, often referred to as the Model 2 had been put on hold due to lack of mastery of the new battery tech that would power the vehicle
  • In multiple interviews, Musk has said the rate of scale of the company and EV industry as a whole will be constrained by the amount of lithium that can be successfully secured by battery makers
  • Also announced today is the fact that the company’s Berlin factory has surpassed its production target of 4000 vehicles per week, 3 weeks ahead of schedule
  • NADA and the Urban League are rolling out a technician training and apprenticeship initiative in Louisiana as a precursor to a national program.
  • 20 candidates will begin the 4 week professional and life-skills training this month and will then go into local dealerships to shadow technicians and studying tech at local colleges
  • “This program creates equitable pathways for a stronger and more innovative automotive industry in our state,” says Judy Reese Morse, who heads the Urban League of Louisiana.
  • NADA says about 39,000 new service techs graduate from U.S. technical colleges

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Kyle Mountsier, Paul Daly

Paul Daly  00:30

Monday morning, not just Monday, but Monday on a week that transitioning from February to March, which is so much my favorite talking about slash TV prices, new texts from non text and speed. Baseball. Sounds like fun people. Moron, it's an oxymoron.

Kyle Mountsier  00:48

It is an oxymoron. Speed any sport except for I don't know, Ping Pong is like that's about it. That's the only diving like, done.

Paul Daly  00:59

Diving. Gonna get back up the ladder in 30 seconds, do your second dive. Now I'd watch that. I'd watch

Kyle Mountsier  01:05

this look, the energy that I feel I don't like I've been in the car industry for 13 something years now. And the energy that I feel approaching March 1 is like, I don't know, there's something within me that starts to bubble up. I don't know what it is. But if you've been on the retail side of the industry, you know that like, March is just it's gametime. It is, you know, oh,

Paul Daly  01:28

I know. I know. And there's so many questions. I mean, like, you're right. It's like this is the first quasi I mean, I won't call it a normal March. But what is normal anymore? This is the most normal feeling March we've had where we feel like we actually have like our feet in the dirt and we're like actually ready to do something, as opposed to just like SWAT off whatever's being slung at us. Right. That's the feeling is going on. We're heading into March full steam ahead. We had a so to have a major year ahead of us. We're so excited about Arlington and April, right because they've been it's almost March, which means it's almost April and at the beginning of April, April 5. The asoto tour is going to show up in Arlington, fourth and fifth we're going to show up at three different dealerships film a TV show will tell you about that in a little bit called a soda days and then we're going to have our tonight so do live tonight, which is the tonight show format that you saw at your an extravaganza. We're going to we're renting at the Arlington theater, Google it, you'll be like we're having a Minnesota event there. Yeah, we are. So just circle the calendar. You want to be in Arlington. And if you're in the Greater Dallas, Fort Worth metroplex, like

Kyle Mountsier  02:33

you need to drive in, right? Yes, the point? Absolutely. Yeah, it'll be a great night together just joining together every rank and file of the dealership and enjoying like learning energy band, the whole nine yards. Yeah,

Paul Daly  02:47

so we're gonna do that we got some news to talk about. So we're gonna try to get into the news a little bit faster. We were having a conversation pre show, getting the news a little bit faster. And by the way, if you want a summary of the news, or the best email you're going to read in automotive, and probably the best email you're going to read all day. And Will someone sent you an email telling you they have money for you? Is the soda daily email spam. Nigerian prince was giving you all this money. It's amazing. So a sign up. You just put your email in, you'll have what we promised to you to be the best email you'll ever read about the retail automotive industry or your money back. All the money speaking in the money. Oh, you want to segue into the news today? It's how confident we feel at a time of widespread conversations about Evie practicality and governmental spending. One of the conversations that is dominating the center of the argument is this affordability, conversation, inflation interest rates going up so consumers are looking for the right fit when it comes to EVs. Seems like an expensive fit. So we got a couple of stories for you today about affordability. Reuters is reporting that Vietnamese manufacturer vinfast is giving a deep discount to lease pricing for its first batch of US customers that purchased vehicles are signed up to take delivery in California with delivery starting this week. So deliveries just starting this week. And they just announced the discount after they already leased. It's pretty awesome. But I think I understand we're doing interesting what your thought is. So initially, there VF a crossover was listed at a lease price of 599 for 24 months, but now that's been reduced to 399 on the website so the website now says 399 instead of 599 however, Reuters has seen some you know customer documentation that vinfast have sent and now the ones who are taking delivery are the ones that were sent over on that really cool vinfast barge to 74 month according so it's like half off, straight half off. So and they said so. Their statement said this is our special offer to vinfast customers for the VF eight city edition models in order to to stay competitive with other brands the range for the VF eights between 191 and 207 miles so definitely definitely on the low end. Kyle, why do you think they are discounting the price of the already signed up for lease by half

Kyle Mountsier  04:58

because they can do Here's the thing, and maybe you got it, you read the full thing, you maybe you've got a different idea here, but I mean, they have a massive market overseas, they are not short on funds, they have the opportunity to go in and win the hearts of a market. They've they've already seen a lot of the market from like YouTube personalities starting to throw shade on actual vehicle. And so they have to come in hot with a discounted offer showing the love getting this earned me I mean, look, you get earned media from Reuters for discounting your price, low, right?

Paul Daly  05:39

Earned Media from a soda, Kyle is the most valuable earned media.

Kyle Mountsier  05:43

So you think about like all of those dynamics at play, and just the fact that they are not the not hurting for volume or, or anything else overseas, like this is the first entrance into the US, but they have to hit the ground running. So I think that it's just because we can and it and it makes a lot of logical sense from a marketing standpoint. Yeah,

Paul Daly  06:02

I agree with you. I think it's an attention play. Um, they're not all discounted, right? They know that, you know, the via the Evie market, a lot of people are dropping prices, they've taken a couple of knocks their range is definitely low. Yep. Right. When you talk about 191 miles of range in Syracuse in upstate New York in February, that's like enough to get to the gas station to get milk and get home to charge it again. Cold weather. So yeah, I think it's a straight attention play. They didn't commit for a long term. And obviously, it's kind of a loss leader. They're not making money on that. But they are trying to be continued to be a part of the conversation. I think it was you that said, you know, you expect, you know, they're going to increase the battery efficiency, they're going to figure that stuff out. But yeah, so an interesting play, because also the timing of it's interesting, because this Friday, we're gonna have a little bit of a much awaited announcement from Tesla, we'll see if it's a big deal or not, but Tesla's investor day is scheduled for this Wednesday, March 1, that's creating a lot of speculation. And the anticipated announcement of what they call their third master plan, can you have three master plans for basically, in 2020? Part three, this is the master Master if full plan. In 2020, Elon Musk said that, you know, a $25,000 Evie, and always been a dream from the beginning of the company. You know, people have been referring to this as the model two, there's been speculation on whether or not some designs of it were actually leaked. So I think there's a lot of conversation and motion around like, what is this? Is there a very, like an entry level, Evie about to hit the market? And we'll see if that's going to happen. You know, in multiple interviews, Elon Musk said the rate of scale of the company and Evie industry and adoption as a whole be constrained by the amount of lithium. So so we'll see. But I mean, like, if they come out swinging, if they

Kyle Mountsier  07:49

come out with earnings? Well, because here's why is because the the early the next phase of early adopters is definitely millennials to Gen Z and everything in between. And it's a much bigger group. It's a massive group with a lot of buying power that still needs buying power in that under 30,000 range like that, even though they have a lot of buying power. They're still buying vehicles on mass in the under 1000 $30,000 vehicle range. And so the accelerant that this would provide Tesla from like, a, like gaining market share would be insane, in my opinion. So we'll see if it actually drops. I mean,

Paul Daly  08:28

say they come out with a $35,000 model to after the incentives right, you're in 2005. And it's bam. Right? And vinfast By the way, to go back to the first part of the story. vinfast is not eligible for the Evie tax credit because they're not making vehicles in the US, which puts them at a much bigger disadvantage if Tesla comes out swinging today. Also in Tesla news on Reuters today, there Berlin factory just surpassed 4000 cars per week, which is three weeks ahead of schedule. So they are definitely on the hustle. Speaking of moments that are on the hustle.

Kyle Mountsier  09:01

Oh. I've been seeing this over the weekend.

Paul Daly  09:06

Yes. So the NAD. This is a story that actually is the synthesis of it was like last year at nada, actually during the panel diversity equity inclusion panel that I was able to moderate at the booth they started talking about this initiative that was coming it was like in the works here we are a year later it's rolling na da in the Urban League are rolling out a technician training and apprenticeship initiative in Louisiana as a precursor to a national program. So basically 20 candidates begin a four week Pradesh professional life skills training, and then they start shadowing texts in dealers while training at local colleges and technical schools. And and then from there, obviously, it's going to be texts and jobs. And you know, just the statement from Judy Reese Morse, who heads the Urban League of Louisiana says the program creates equitable pathways for a stronger and more innovative automotive industry in our state. So Oh, Ma Ba says Prentice

Kyle Mountsier  10:01

ship apprenticeship. And that is that's the word for me like people coming alongside because here's if anybody that anybody knows that the best technicians that work for you are the ones that shadowed your master technicians first. They are young, early early stage technicians that shadow your master technicians learn the trade and learn the dealership and they are loyalist. They are some of the best workers and they like their their work is complete. I mean, every single person that I've talked to that ever trained a technician in this way that hasn't just acquired them from a school or acquired them from from another dealership or anything, that's always the best. So this like, this is so smart. Nada said that about 39,000 new service techs graduate from us technical child, and there's just every single year, but they say that the industry needs 76,000 admissions. That means we're getting half right now half got to figure out the solution here.

Paul Daly  11:04

Well and no getting. I think what ties back to one of your first your first point Kyle is just like when you show someone opportunity that they never thought they would be able to have this. There's just the level of loyalty and gratitude and buy in that you get from that. Because let's be honest, when you can step out of a technical training school and make 80 grand a year, right? If you're good, and you're paying attention, where else does that opportunity exist in period out of college,

Kyle Mountsier  11:33

I can tell you nowhere, because this morning, I was I was this is so timely. I was running, watching the news next to the sports center that I try and get in front of. And I'm watching the news and I think it was New York bank has come out with like their top ranking jobs out of college. And the top ranking one is a chemical engineer with an average salary of get this pa $79,000.

Paul Daly  12:00

So, so what so I'll do a calzones here. So you're telling me you go to college, and you do great and you're super smart and you pay attention you graduate from the right school have the right apprenticeship and the right connections and you do it you're at the top of the list. You're making 79 grand. And if you go into automotive tech apprenticeship, you might be at 80 grand in like 18 months.

Kyle Mountsier  12:24

Let's go 00

Paul Daly  12:28

I don't know we're just reading the facts, ladies and gentlemen, just throwing it out there the facts, thinking of a transition to our last story, which is going to be a lot of fun. Speaking of getting to the end of the game faster itself.

Kyle Mountsier  12:42

Yeah, we'll just put a stop right there. Okay, this is so good. And I know we're both going to have some things on this. So I've already got a LinkedIn post, like keyed up on my LinkedIn posts on this guy.

Paul Daly  12:55

Amidst fierce competition from faster moving sports and waning attention spans Major League Baseball is getting a major league speed boost, as new rules to make the game move along are implemented in preseason. So basically, they're like these games are taking too long, we need to make them go faster, keep them more exciting. New changes are intended to cut almost half, almost an hour from game time. So it's almost a third of the immune from historic game times, they could go three hours, three and a half hours. Now they're shooting more in that two hours, two and a half hour range. New rules involved a very detailed pitch clock. Alright, it's basically I couldn't put it on the show. So 30 seconds between batters. There's 20 seconds if there's someone on base and 30 seconds if there's that, like there's all these rules and basically, the batter has to be in the box ready to take the pitch with eight seconds left on the clock. And if they're not, they get an automatic strike. And if the pitcher doesn't deliver the pitch within the pitch clock, the batter gets a ball. Did you see the

Kyle Mountsier  13:55

preseason game where the Braves lost bases loaded? No on a call site from time it was a full from what I believe it was I know it was bases loaded. full count so three into batter doesn't stop stepping in time and they lose the game.

Paul Daly  14:19

Did people notice clap due to time? Like did the crowd even know what to do? Because like I will be looking around like why do you think the anticipation wait for that? Have a Bases Loaded moment and the game right everyone's on the edge of their seat and then the umpire is just like strike three you're out Game's over everyone's

Kyle Mountsier  14:36

like what the picture of the Braves matters just like

Paul Daly  14:41

me, you know, it's gonna you know it's gonna take that you gotta go find it. So some other things that they've changed. They made the basis bigger so that it makes it easier to steal bases. Right? They want to encourage offense right, because offense is what gets people engaged. Yeah, and also, big infill shifts can't happen as much. So like, let's times have better come up in the like push all the people to one side because the stats show that better and like I mean that's kind of like part of the savvy part of the game right like if you want to risk that but so all this encouraging offense and this is going to mess up there will never ever be an argument over like who's the better batter or who's better offense or who's because it's gonna mess up all the stats all the strike if they're encouraging offense hitting it's gonna go up from here on yeah it's however there's somebody we know that may or may not have influenced this to our time limit Hold on. Hold on one second. Paul, Paul, this guy Yeah, he is I knew it I call I got a I got a baseball card and Savannah bananas banana ball has a two hour time limit fancy that they happen to be the hottest thing in baseball right now Savannah bananas, and we're gonna I don't know, we got to reach out and we got to get them to just hang

Kyle Mountsier  15:55

tight if because I don't have enough time to walk it all out here. But like there is a relationship here between MLB and Savannah bananas and online retailing and car dealerships. I'm telling you watch. There's like the like MLB is to Savannah bananas as online retailing is to dealerships. I'm telling you, it's all there. It's coming for you watch out for it.

Paul Daly  16:24

I can't think of a better way to end a Monday show than that. There's a lot of work to do. There are a lot of people to serve. There's a lot of innovating to be had wrapping up February got today tomorrow left and then we're into a new season. Get ready

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