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We’re firing up the new year talking about the last 2 weeks of activity, grading predictions, Chinese EV Conversations, and the Cybertruck’s first accident.
- Steve Greenfield 2023 predictions:
- Reynolds & Reynolds Acquired. - Fail 2. Tekion Acquired by Salesforce.com. - Fail 3. Carvana Acquired by Amazon. - Fail 4. AutoTech Valuations Reset. - Pass 5. Dealership Valuations Drop. - Meh 6. Dealers Focus on Cost Reduction. - Meh 7. Artificial Intelligence (AI) Goes Mainstream. - Pass 8. Next Wave of AutoTech: Process Automation. - Meh 9. Consolidation of Mobility Companies. - Meh 10. Private Equity (PE) Acquires Public Companies. - Meh 11. 2023 - The Year of the EV. - Pass
- As we have entered the new year we’re seeing predictions emerge from all of the savviest corners of the Retail Auto Industry from Steve Greenfield, to Jonathan Smoke and beyond. One of the topics that keeps popping up is the question of whether or not this is the year Chinese vehicles, specifically EVs, will disrupt the market
- Progress, environmental concerns, and national security are all discussion points as Western nations face a complex dilemma in balancing domestic EV supply chain protection with global competitiveness
- China continues to bolster its domestic EV market with significant subsidies, potentially widening the technology gap with Western manufacturers.
- Recent changes to U.S. EV tax credit rules, including the exclusion of Chinese battery components, challenge the eligibility of popular models like Tesla's Model 3 and Ford's Mustang Mach-E, limiting Chinese influence over the battery supply chain
- France and the EU are following suit, with France restricting subsidies for Chinese-made EVs and the EU considering tariff increases, highlighting a broader Western skepticism towards Chinese EVs.
- The Biden is also considering increasing tariffs on Chinese EV’s which is already at 27.5%
- In the first reported accident involving a Tesla Cybertruck and a Toyota Corolla, only minor injuries were recorded, providing a first look into the highly scrutinized vehicle's safety and design in real-world scenarios.
- A 2023 Tesla Cybertruck, involved in an accident with a 2009 Toyota Corolla in Palo Alto, California, resulted in minor injury to the Cybertruck driver, who declined medical attention.
- The accident, confirmed by the California Highway Patrol, occurred when the Corolla crossed into the Cybertruck's lane, highlighting the robustness of the Cybertruck's design. The weather was cloudy and wet
- Despite significant damage to the Corolla, the Cybertruck showed less damage, with side-curtain airbags deployed, indicating effective safety features.
- This incident, not involving autonomous driving, adds to the ongoing scrutiny of Tesla's vehicle design and safety in collision situations.
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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