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Welcome to a beautiful week in Retail Auto. This morning we’re talking about some less than flattering reviews of the new VF8, a partnership to leverage EV tech to put power back into the grid, as well as a pay cut for the CEO of one of the world's biggest companies.
- As Vietnamese EV automaker VinFast gears up to begin US Deliveries, the pricing and specs of their first crossover, the VF8, is already being met with a variety of consumer resistance
- FIrst is the price coming in at $56,700 for a vehicle that has a battery range of only 179 miles from a sizable 82 kw battery
- To compare Hyundai Ioniq 5 has 266 miles of range and starts just over $42k
- Other EVs, such as the Kia EV6, Volkswagen ID4, and Ford Mustang Mach-E also have higher range at lower prices
- Customers also seem to be confused about the battery leasing model which is separate from the vehicle lease and based on miles driven
- Reviews from CES test drives have been less than flattering with one YouTuber titling their video "I Drive the VinFast VF 8 for the First Time! And I Really Wish I Didn't," as they talk about looks, missing items, the UI, and a bit of a rattle with a 3 out of 10 “livable, driveable”
- In comparison, the Chevy Bolt costs about half as much and has over 200 miles of range
- Ford, GM, and…Google are teaming up promote the advancement and adoption of Virtual Power Plants (VPPs) to help take strain off power grids during peak demands and emergencies
- With permission from customers, the tech pools together 1000s of decentralized energy resources like electric vehicles or electric heaters controlled by smart thermostats.
- Switch thousands of households' batteries, like those in EVs, from charge to discharge mode or prompting electricity-using devices, such as water heaters, to back off their consumption
- RMI estimates that by 2030, VPPs could reduce U.S. peak demand by 60 gigawatts, the avg consumption of 50 million households, and by more than 200 GW by 2050
- VPPs have already improved grid reliability in such countries as Germany and Australia and in some U.S. states
- We’ve been hearing a lot about scaling back in these recent days and not to be left out, Apple CEO Tim Cook requested a 40% ish pay cut from th $98M he made in 2022
- According to an investor statement, Cook’s target salary will be about $49M as the company has seen a YoY sales decline
- $3M base, $6M cash incentive and the rest in stock awards
- Other costs: in 2017 the company made it mandatory that Cook travels by private jet for security and efficiency reasons
- Over $500k on security and over $730k in private jet fees (146 hrs at $5k/hr)
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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