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It’s Friiiiday and we have guest host Daniel Govaer to talk about the optimism of VinFast despite Q4 losses, 40k on the hood of one Toyota, and the potential to have a Dealer - Governor in West Virginia.
Show Notes with links:
New EV OEM VinFast's is confident in its path to profitability despite a widening Q4 loss, the Vietnamese EV maker eyes an ambitious sales horizon for 2024.
- Q4 losses deepened by 3.4% quarter-on-quarter, totaling $650.1 million, signaling a 1.3% increase from Q4 2022.
- Aiming to triple its sales to 100,000 units in 2024, despite missing its 50,000 target in 2023 due to slow EV adoption and pricing pressures.
- Expanding globally, including plans for new factories in North Carolina, India, and Indonesia, targeting major markets with a novel battery leasing scheme.
- "This year, we expand globally... So we are confident that we are going to achieve the guidance," states chairwoman Le Thi Thu Thuy.
Toyota is slashing $40,000 off the hydrogen powered Mirai's MSRP as Shell Hydrogen announces its departure from operating hydrogen fueling stations in California, complicating the refueling process.
- The offer, exclusive to California, includes $15,000 in complimentary fuel and zero percent financing for qualifying buyers of the 2023 Mirai Limited models.
- Inventory is showing challenges with just about two dozen Limited models remaining, highlighting the niche appeal amid infrastructure constraints.
- Toyota is also including a $15,000 hydrogen fuel card with the Mirai, amid growing concerns over the dwindling number of available hydrogen refueling stations in California.
- There is also a 0% financing incentive that could be valued at over $6500…making the total incentives on the deal worth around $60k
- Sticker price is $67,095
Is it possible that the next Governor of West Virginia could be a Dealer? Chris Miller, a Southwest Virginia auto dealer, is stepping into the political ring with a vision to overhaul the state's economy."
- Chris Miller, owning multiple dealerships across states, is running for Governor of West Virginia, aiming to leverage his business acumen for state governance.
- Miller's personal journey from battling addiction to becoming a successful business owner and now a gubernatorial candidate highlights his resilience and dedication to change.
- "At the end of the day, if I ran my businesses the way the government spends our tax dollars, I'd be broke," Miller shares, underlining his motive to enter politics.
- Chris Miller owns the Dutch Miller Auto Group, which he operates with his family. The group has 13 dealerships, including one in the Southwest Virginia town of Wytheville, along with dealerships in West Virginia, Virginia, North Carolina, and Kansas.
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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