Shoot us a Text.
Let’s kick off the last week of the month with guest host Daniel Govaer as we celebrate Holman’s century of automotive excellence, explore Toyota’s bold hybrid-only strategy as EV demand shifts, and dive into surprising brand loyalty trends among Gen Z.
Show Notes with links:
- Holman marks a century of automotive innovation and growth, celebrating its 100th anniversary on August 23rd. From a single Ford dealership founded by Steward C Holman in 1924 in New Jersey, Holman has evolved into one of the largest family-owned automotive services organizations worldwide.
- The company now operates over 59 dealerships across nine U.S. states and employs over 9,000 people globally, with a presence in the United Kingdom, Canada, Germany, and Mexico.
- They have expanded into various automotive services, including fleet management, commercial vehicle equipment manufacturing and powertrain distribution.
- Mindy Holman, Chair of the Board, emphasizes the company's commitment to its employees and customers. “As I reflect on this milestone, I’m incredibly grateful to our people... I know dad and granddad would be equally proud,”
- Toyota is doubling down on hybrids, with plans to potentially convert most of its Toyota and Lexus lineup to hybrid-only models. This bold move challenges the industry's push toward full electrification.
- Toyota may phase out gasoline-only models in the US, starting with the Camry and RAV4.
- The company aims for 50% of its U.S. sales to be hybrids by next year.
- Hybrids offer Toyota an edge in meeting strict U.S. emissions regulations.
- Toyota’s hybrid sales surged 66% through June 2023, far outpacing its EV sales.
- Chairman Akio Toyoda has emphasized a "multi-pathway" strategy, including hybrids, EVs, and hydrogen.
- "Going forward, we plan to evaluate, carline by carline, whether going all-hybrid makes sense," said David Christ, Head of Sales and Marketing for Toyota in North America.
- Despite common perceptions, Gen Z is proving to be highly loyal to brands. A recent survey by Medallia Market Research reveals that 61% of Gen Z shoppers consider themselves “forever customers,” outpacing Millennials (57%) and Boomers (43%).
- Most customers find loyalty after a positive interaction with the brand.
- Price is the top factor for respondents becoming "forever customers," followed by product quality.
- However, the majority of customers refuse to shop at a retailer after a bad experience.
- “We’re witnessing a shift in brand loyalty dynamics, particularly among younger consumers,” says Medallia.
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.
Get the Daily Push Back email at https://www.asotu.com/
JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/
