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Welcome to Wednesday as we talk about JD Powers new EV report that talks about expectations for broad adoption sooner than you think. We also cover the very efficient hacking of a Tesla Model 3, as well as Apple letting payers not pay right now.
- ASOTU investor and friend David Long, Executive GM of the San Francisco area Hansel Auto Group calls EV demand ‘insatiable’ as JD Power released their latest E-Vision Intelligence Report
- In the report, JD Power predicts 3 in 4 consumers will be able to choose a viable EV option by 2026 due to falling prices and robust selection of vehicles.
- The $26k Chevy bold is cited as one example of price parity with gasoline models indicating EV’s aren’t just for upscale buyers anymore
- About 8.5 percent of new-vehicle sales and leases were EVs in the first two months of this year, a record high and almost double the share from a year ago, J.D. Power said.
- David Long continues that with EVs, "there's so many questions about charging and things that they really want to hear another human being tell them and show them," Long said.
- "We've had to become really, really good at being able to provide customers with information," he said. "The more we can communicate to our consumers, the more comfortable they will be [and] the easier it will be for them to make that decision to transition from ICE to EV."
- Tesla's cybersecurity team has a little work ahead of them as French firm Synacktiv easily hacked a Model 3 at a security conference, gaining access to the system in under 2 minutes and winning themselves $350,000 and a brand new Tesla.
- The hack was a full compromise as the hackers were capable of opening the Tesla's trunk and doors while it was in motion
- And of course, the team replaced the Tesla logo on the infotainment system with their own.
- The hacks were confirmed by a Tesla security response team in Vancouver to monitor the process and the company is expected to fix the bugs via the vehicle's self-updating system, according to a Security Week report.
- Apple is getting into the buy now pay later game letting select Apple Pay users swallow the full purchase price of online items one bite at a time. It’s called ‘Apple Pay Later’
- Users will have the ability to apply for loans of $50 to $1,000 and repay them over four payments without interest or fees
- The Pay Later program is managed by a new subsidiary, Apple Financing LLC, which is responsible for credit assessment and lending, but the company partnered with Mastercard Installments to enable the service.
Join Paul J Daly and Kyle Mountsier every morning for the Automotive State of the Union podcast as they connect the dots across car dealerships, retail trends, emerging tech like AI, and cultural shifts—bringing clarity, speed, and people-first insight to automotive leaders navigating a rapidly changing industry.
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