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As we close in on Thanksgiving, Ford Dealers are extra thankful as Ford's EV dealer program changes. We also talk about Toyota's $60 million penalty for poor lending practices, as well as a viral story of a Stanley tumbler surviving a Kia car fire.
Announcements:
- BOGO sale going on now
- More Than Cars: Episodes 1-3 Mashup Premiere on Tuesday, November 21 at 7PM ET. Join the event on LinkedIn
- ASOTU CON will be May 14-17, 2024 (Tuesday-Friday) at the Live! Casino and Hotel Maryland
- Following a legal dispute in Illinois where Ford's program was challenged for violating state franchise laws. The company has made significant changes to its EV certification program for dealers, significantly cutting training costs and charger installation requirements amidst legal challenges and critical dealer feedback.
- Training costs for dealers have been cut in half and Ford has also reduced the number of Level 2 chargers required for dealers in the higher tier “Certified Elite”from five to only three, and the lower “Certified” level now only requires two.
- Ford remains committed to the EV program, stating: "It is designed to make sure that Ford and its dealers provide Illinois Ford EV customers with a segment-leading experience."
- Toyota Motor Credit Corporation is facing a $60 million penalty by the U.S. Consumer Financial Protection Bureau (CFPB) for alleged violations in refund practices on bundled products in loan contracts, impacting consumer credit reports.
- CFPB orders Toyota to pay $48 million to affected customers and a $12 million penalty.
- The issue centers on difficulties in canceling bundled products in car loan contracts and inaccurate refunds.
- Toyota's financing unit was accused of providing misleading information to consumer reporting companies about borrowers' payments
- In a remarkable incident made for Tiktok, a Stanley tumbler survived a Kia Sorento car fire, leading the company to not only replace the tumbler but also the burnt car as the owner made a video where she pried the tumbler from the charred interior and shook it to reveal that there was still ice in it
- The incident gained viral fame on TikTok, with over 80 million views, showcasing the tumbler's resilience.
- Stanley, seizing the opportunity for positive brand engagement, offered to replace both the tumbler and the car.
- The burnt Kia Sorento was part of a recall for fire risk, highlighting ongoing concerns with vehicle safety. The company encourages customers with affected vehicles to keep them parked outside.
(00:00:00) Intro
(00:01:33) More Than Cars Mashup Event
(00:03:03) BOGO Black Friday ASOTU Swag Sale
(00:04:18) Ford Tweaks Dealer EV Program
(00:08:26) Toyota fined by CFPB
(00:11:15) Stanley Tumbler survi
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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