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Today’s flyover is a target-rich environment with a wide swath of news. In order to keep it under 12 hours, we’re talking about Tesla getting kicked from the ESG index (we’ll explain), why signals are not looking good for subprime borrowers, and the new priorities in return-to-work as evidenced by Adidas.
- Tesla gets kicked out of the ESG index and isn’t happy about it
- ESG = Environmental, social, and governance and has been a growingly popular investment for those who want to (or appear to want to) keep ESG issues at the forefront of the investment strategy
- “Low carbon emissions plan, labor complaints, and compliance investigations” were cited as reasons for being left off the list while Oil company Exxon Mobile was placed in the top 10, as well as Amazon despite its substantial labor disputes, and JP Morgan which is the largest lender to the fossil fuel industry.
- Meanwhile, Musk stated “Tesla has done more for the environment than any company ever.”
- It’s all about the payments, Subprime borrowers are falling behind, yet most Americans are still above water
- subprime credit cards and personal loans over 60 days late rising faster than normal, according to credit-reporting firm Equifax Inc
- Delinquencies on subprime car loans and leases hit an all-time high in February. Numbers go back to 2007
- Pandemic stimulus is running dry in households affected most by inflation
- Still overall high credit environment
- % of subprime loans is trending back up 15.7% Q1 2022 - 15.4% 2021 - 18.9% 2020
- According to TransUnion, the avg balance of new auto loans reached $28,415 in the first quarter, up 15.2%, or $3,751, vs. a year ago. Including both new and used combined, the average monthly auto payment was $556, up 13% from last year
- Payments over the minimum on car loans was higher than normal in Q1
- Inspiring spaces are a part of return to work at Adidas new HQ
- Designed by San Francisco-based Studio O+A with LEVER Architecture, the space is graphics heavy and focuses on flexible reconfiguration. Basically bleachers stay put, everything else moves
- Lines and textures allude to the brand in the absence of the actual, iconic three-lined logo
- Collaboration is at the core of the return to work strategy
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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