Malcolm Bricklin

Cars once represented a pillar of the American dream — mobility and independence. But they’ve become something of a luxury product, and customers and auto dealers are growing frustrated. The average price for a car in the U.S. is nearly $50,000, an increase of close to 30% in the past five years, according to Kelley Blue Book. Monthly payments are also near an all-time high. A record number of owners are underwater — paying more than the vehicle is worth — according to Edmunds. Despite record profits in 2023, automakers face challenges: the need to invest billions into software and electrification as well as a global landscape where Chinese and other foreign automakers can produce cars much cheaper. https://lnkd.in/gsq6HsUv #american #automakers #producing #expensive #cars #becoming #luxury #product #leading #growing #frustration #customers #autodealers #carmanufacturers #challenges #investments #software #electrification #competition #chinese #foreignautomakers #making #cheaper #lowercost #cars

Instructive for every European, from consumer to car maker, to read the highly positive review by Steve Fowler of Geely's new EV small car it has cheekily named the Panda (although Stellantis will have something to say about that). Looks like it fills the huge, glaring market gap left -astonishingly - by Western car makers, for a seriously cheap but practical 4-seat(just) BEV city car; but one capable of doing slightly longer journeys (124 mile claimed range) and up to 50mph on highway. And all that for what may well turn out in the UK almost to match the price of Citroen's £7.5k-plus, max 30mph, 2 seat, 50-mile range Ami quadricycle. In terms of European producers, next step up from Ami will be Dacia's EV Duster coming in the summer - at £15k- plus. It's time to up the game, chaps. For the many well-intentioned consumers refraining from buying Chinese on principle, the temptation to succumb is poised to become far, far harder to resist.

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ADAS AI startup Revv has raised over $20M from Left Lane Capital, Soma Capital, 1984 Ventures, and Agalé Ventures. The automotive repair industry faces an unprecedented challenge as Advanced Driver Assistance Systems (ADAS) become ubiquitous, now standard in 92% of new vehicles. These sophisticated software-dependent features, from automatic braking to adaptive cruise control, have made diagnostics and repairs significantly more complex and time-consuming for repair shops. Revv has developed an innovative platform that leverages AI and advanced large language models to optimize this workflow. Their system condenses hours of diagnostic research into seconds by aggregating data from over 60 sources, providing repair shops with clear, actionable repair packages for complex ADAS systems. Revv now works with over 2,100 repair locations, helping them report revenue increases of up to 75% after implementation through improving diagnostic accuracy and with comprehensive workflow support. The platform is hardware-agnostic and integrates with all existing shop equipment and estimation tools. https://lnkd.in/g7kqSTgx

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The EV "PREMIUM" is gone as used EV vehicle prices "crash". Check out this quick read regarding used EV versus ICE valuations. Examples include a Tesla Model 3 and BMW Group 3 series comparison. #automotive #automotiveindustry #sales #innovation #ecommerce #branding #ai #ev #electricvehicles #technology #business #leadership #disruptor

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The Titanic had a band. Perhaps Ford should launch the CEO Jim Farley Symphony Orchestra instead of rearranging the management deck chairs.   Consider these disclosures in the past 48 hours.   Anthony Lo, Ford’s chief designer, resigned after three years on the job – an eternity by Farley’s management team standards. Annie Liu, a former Tesla executive Ford lured to oversee purchasing for Ford’s electric vehicles, quit after eight months on the job. Katherine Worthen, who oversaw the supply chain for Ford’s ICE vehicles, left after 16 months.   Lo was based in Paris, indicating his commitment to Ford was always tenuous. By comparison, GM just unveiled a sprawling design studio at its real headquarters in suburban Detroit, underscoring the importance of an on-site presence for designers. Toyota’s Detroit-born North American design chief has been with the company for two decades.   Ford CFO John Lawler has been reassigned to vice chairman, supposedly to “lead on future strategy choices,” which begs the question as to what Farley’s responsibilities include, and for that matter, those of chairman Bill Ford, who last year received $20.6 million in compensation.   Ford’s comp included $732,943 for his personal use of aircraft. It’s fair to ask how much time in Detroit does Ford spend, when his personal travel cost his family company even more than the $611,174 that Farley billed. Farley’s family lives in the UK. Farley received $27 million in 2023 compensation.   Bloomberg reports that Ford lost more than $100,000 on every electric vehicle it manufactured in the first quarter, more than double its EV deficit a year ago. The company has reduced its planned EV spending by $12 billion. Ford's EV plants costs are almost entirely subsidized by U.S. and Michigan taxpayers.   Meanwhile, the NHTSA said its Office of Defects Investigation has opened an examination into the recall of 43,000 Escapes and Mexican-made Bronco Sport SUVs, noting "significant safety concerns" about Ford's repair method for leaks caused by faulty fuel injectors that can spark fires. The Detroit Free Press recently reported that Ford was working furiously to reinspect more than a quarter-million vehicles in which Ford claimed it replaced dangerous Takata air bags — but admitted those fixes were never made or were poorly installed.    EVs are the future and Ford is possibly too far behind to catch up. The company recently launched “Ford University” to train the company’s sales and service employees (see second link). The company would be wise to expand FU’s curriculum to include management courses on how to profitably build reliable and safe cars and trucks.   https://lnkd.in/gUyz7_-u   https://lnkd.in/g_BDSvbm #ford #electricvehicles #ceo #management

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Legacy automakers refused to acknowledge the disruption that EV Technologies can have on the automobile industry, and decided to fight it off, instead of embracing it. The American automobile industry had an headstart, when Tesla launched the Model S in 2012. Anyone who test drove the Tesla Model S, would have realised that EV technologies are superior to ICE, and the future for the automobile industry is ACES (Autonomous / Connected / Electric / Shared). I drove an 8 year old Tesla Model S and a FSD (Full Self Driving) Tesla Model 3 in America a couple of years ago, and was super impressed with it’s performance. Why did legacy automakers decide to debunk EV’s, instead of competing? EV Battery LFP cells were originally invented in North America, however patent licensing deals have meant that, until now, they've mostly been the preserve of Chinese-market EVs. How & Why did it happen? America’s thought leader Tony Seba published a book ‘Clean Disruption of Energy & Transportation’ in 2014 & made many presentations, why was he ignored? I visited China in 2019, and saw electric taxis & buses had replaced polluting ICE vehicles. However, Chinese EV manufacturers did not have much presence in the personal car segment. After Tesla’s factory got built in China (transfer of manufacturing knowhow), other Chinese EV manufacturers made their presence felt, and now control the market. Isn’t it too late a realisation by legacy automakers, that EV’s are disrupting their business… “Ford’s CEO Jim Farley first sounded the warning back in May, after his visit to China, but it’s been quietly happening in the background for far longer; Chinese electric vehicles, or EVs, are gobbling up the Chinese domestic market. They may even be on pace to do the same globally. In a Wall Street Journal interview, Farley described the situation as an "existential threat" to Ford, highlighting the rapid pace at which Chinese automakers are advancing in the EV race. Not a few years ago, China was a net importer of automobiles, serving as a highly lucrative destination for many international manufacturers including Japanese, German, US, and even UK companies. In 2022, however, the Chinese economy was exporting nearly as many cars by-value as it was importing. Not only that, but that market share of foreign firms selling within China was rapidly being consumed by a slew of young, nimble, and domestic challengers. It is abundantly clear that China is on-pace to continue expanding, with no clear indicator of where its zenith might be. Chinese EV manufacturers are making inroads into Europe, Asia, Africa, and even South America, with the Wall Street Journal reporting as many as 20% of auto sales in Mexico this year being of Chinese make and model.” Read more in this Autoblog article by Marco Micheletta https://lnkd.in/gVWU8h73

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Despite the predictions of many pundits, the franchised dealer distribution system remains a vital and robust component of the automotive industry. While direct models like Tesla's have garnered attention, the value of local dealers has only become more apparent. Franchised dealers are more than just points of sale; they are integral parts of their communities. They provide personalized service, create local jobs, and support regional economies. Their deep-rooted relationships with customers foster trust and long-term loyalty that cannot be replicated by impersonal direct sales models. The franchise system’s resilience lies in its adaptability and customer-centric approach. Dealers offer a comprehensive value proposition: expert knowledge, dedicated service, and a commitment to customer satisfaction. This unique combination ensures that the franchise model continues to thrive, meeting the evolving needs of today’s car buyers. As Dealers, we pride ourselves on embodying these principles, delivering exceptional service and fostering strong community ties. The franchise system is not just surviving; it’s thriving, proving its enduring value in an ever-changing market. 🚗 #AutomotiveIndustry #nada #FranchiseDealers #CommunityValue #CustomerService #JobCreation #EconomicSupport #LocalBusinesses #DealerNetwork #TrustAndLoyalty #CustomerRelationships #FranchiseSuccess #AutomotiveDistribution National Automobile Dealers Association (NADA) Scout Motors Inc. Rivian Tesla Fisker

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The Most Reliable Car Brands in the U.S. Ranked Reliability is one of the most important aspects to consider when buying a new vehicle, especially as cars become ever more technologically complex. #reliability #carbrands #JDPowers

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Ford is revamping its money-losing electric vehicle business, retreating from some plans for all-electric vehicles and instead prioritizing the development of hybrid technology, the automaker announced Wednesday. The announcement underscores the challenges facing U.S. automakers as they seek to boost sales of EVs, a crucial technology in the fight against climate change, despite flagging consumer demand, supply chain challenges and increased competition with Chinese carmakers. Ford is scuttling plans for a three-row electric SUV and spending less of its total resources on all-electric vehicles, with annual capital expenditures dedicated to pure EVs declining from about 40 % to 30 #. Still, executives said production will begin on an all-electric commercial van in 2026. The automaker also has plans for two more electric pickups and long-range SUVs. #Ford #is #repostioning #itself #on #hybrid #vehicles #with #priorization #of #development #the #technology

9,000 JOB CUTS planned by Nissan Motor Corporation. Not surprising and probably just the start. They also plan to cut production capacity and sell a chunk of its stake in Mitsubishi Motors Corporation in a bid to reverse Nissan’s slide. Errors in strategy include: ➡ Wrong product at wrong time. ➡ Pricing, relying on incentives. ➡ Unrealistic volume goals....Revised down from 5M to 3.5M! ➡ No hybrid yet in North America. ➡ NO production discipline, resulting in costly, excessive dealer inventory. ➡ Lack of leadership. Maybe merge with Stellantis to create Nissantis? PLEASE NOTE: We are currently soliciting for OEM, DEALER GROUP, SUPPLIER, SaaS contracts/other projects. Feel free to reach out to me directly. 416.993.9356 [email protected] #automotive #automotiveindustry #innovation #brand #technology #leadership #ev #electricvehicle #retail #oem #hybrid

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Consumer Reports has released its "14 Best EV Buys in 2024" list, highlighting the dominance of Korean and German automakers in the electric vehicle market. The BMW iX topped the list with a score of 84/100, followed by the Hyundai Ioniq 6 and BMW i4 tied for second place. Notably, Hyundai/Kia group and German manufacturers like BMW and Audi accounted for over two-thirds of the top-ranked EVs. The study evaluated around 50 electric vehicles based on performance, range, comfort, and quality. Interestingly, some EVs fell short of their EPA-rated range by up to 50 miles, while others exceeded their claims. This ranking demonstrates the competitiveness of South Korean and German automakers in the EV space. https://lnkd.in/gzExjZ4W #ElectricVehicles #ConsumerReports #BMWiX #HyundaiIoniq6 #KiaEV9 #EVRankings #GermanEVs #KoreanEVs #SustainableMobility #EVPerformance #AutoIndustry #CleanEnergy #FutureOfTransport #EVAdoption #BatteryRange #TeslaModelY #AudiEtron #PorscheTaycan #GlobalEVMarket #EVInnovation

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Lucid Motors said on Monday its largest shareholder, Saudi Arabia's Public Investment Fund, will inject up to $1.5 billion in cash, as the electric vehicle maker looks to add new models to its product line. The deal comes just ahead of Lucid's planned production of its much-awaited Gravity SUV later this year and keeps the EV maker sufficiently funded till the fourth quarter of 2025. "The $1.5 billion helps to solidify the relationship between PIF and Lucid further. There was some investor concern out there that should the PIF become frustrated with the company that they wouldn't provide any additional commitments," Andres Sheppard, senior equity analyst at Cantor Fitzgerald, said. "With this, the PIF's investment number now shoots to essentially $8 billion." The company also reported second-quarter revenue above analysts' estimates as price cuts helped drive higher sales of its luxury electric sedans during the April-June period. with Abhirup Roy #PIF #Lucid #saudiarabia #electricvehicles Read more on Reuters - https://lnkd.in/ghDmiuXv

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General Motors claims the #chevybolt will be the cheapest #EV in 2025. 🤷🏻‍♂️ Can they beat BYD and Kia Worldwide in a price war? #Ultium or their problematic #evbattery is back on this discussion, which is either a plus or a minus. If they can make it in volume with no warranty issues, they reduce cost by 20% vs. buying your pack from a tier like now. When you look at the legacy model, they’re 70% tier, whereas Tesla is 70% direct. That’s a substantial cost savings. NIO and GEELY mimic the Tesla path in China with castings from IDRA GROUP and less tier-made parts. This, plus China and Korea's dominance in the market, makes this goal for #GM a considerable hill to climb, but I applaud 👏 the team for trying. You led the EV market for a decade when no one cared, so hopefully, you can do the same now. Thoughts 💭?https://lnkd.in/gijdmN7X

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GM has sold over 300,000 electric vehicles in the United States in lass than a decade. There is an opinion by an EV enthusiast Mark Ostrander, who comments, "II personally think that GM has a better lineup styling-wise than Tesla. With the exception of the Tesla Cybertruck, pretty much all of their vehicles are variations of the same jellybean design. While Tesla’s technology is strong, and is the reason EVs have come as far as they have, their styling dept has a lot to be desired. It makes sense that that Tesla and GM are the leaders in the EV game though; Tesla’s aforementioned tech, and GMs work on the EV1."

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Rivian's latest production forecast and financial results are drawing attention in the EV market. Despite a wider than expected first quarter loss and a cautious 2024 production outlook, Rivian remains optimistic about its guidance. The company's shift in production strategies, including upgrades to reduce costs and introducing more affordable vehicle variants, highlights its commitment to innovation and sustainability. This is of course an interesting space as Rivian and many other OEM's navigate the evolving landscape of electric vehicles and consumer demand. #Rivian #ElectricVehicles #EVs #automotivenews #automotive #autonews

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INSIGHTFUL VIDEO: Why So Many EV Companies Fail https://lnkd.in/ePjkVw_9 The EV revolution could bring more change to the automotive industry than since its founding, and the potential impact is a tempting proposition for entrepreneurs. But this business is not for the faint of heart and nothing like starting an app or a social media company CNBC

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The linked article is representative of how auto reporters gaslight their readers about the performance of GM CEO Mary Barra. To say that GM’s EV sales are up 40% is meaningless given the paltry number of electric vehicles the automaker sells. GM in the second quarter sold a mere 21,930 EVs, compared to the 443,956 EVs Tesla delivered. Unlike GM, Tesla sells its EVs at a profit. Some folks might recall that Barra not that long ago vowed she’d be selling more EVs than Tesla by the end of next year. Moreover, GM’s Mexican-made EV Blazer has been recalled and a second stop order has been issued because of a mechanical issue with the front suspension component. GM late last year recalled and issued a stop sale order on all its EV Blazers because of disastrous software issues. GM sold only 746 BrightDrop EV delivery vans in the first half. The company told investors in November 2022 that BrightDrop would generate $1 billion in annual sales in 2023 and that it already had 25,000 orders for the vehicles. What happened to those orders? GM in the second quarter edged Toyota on total sales, but that, too, is misleading. There is a waiting list on several of Toyota’s most popular hybrid vehicles and dealers reportedly are selling them considerably above MSRP. GM is already discounting its 2025 EV Blazers. Speaking of Mexican-made vehicles, a shoutout to the Ford amigos earning poverty wages who build the Bronco Sport, which was the No. 1 ranked small SUV in J.D. Powers initial quality rankings. The Bronco Sport is built is Mexico, where the “All In On America” company also proudly builds its electric Mustang and Maverick pickups and maintains the biggest engineering team in Latin America. Ford’s UAW workers need to up their game. More than 4,000 F-150 2024 pickups have been recalled because the windshield may not have been properly bonded to the vehicle, allowing it to detach during a crash. Ford CEO Jim Farley earlier this year boasted that delaying F-150 deliveries for months allowed the company to identify some dozen defects that would have required recalls. Auto writers might want to ask Barra and Farley about the status of the adapters they promised buyers of their EVs that would be available around now to connect to Tesla’s Superchargers, but I understand the media’s reluctance to avoid questions that might prompt someone to question the respective $28 million and $27 million compensations Barra and Farley received last year. https://lnkd.in/gtDVqeDk #gm #ford #tesla #electricvehicles

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