Top 150 Breakdown, Hasta-la-vista-cheap-Tesla, Blackout Bump

The Automotive Troublemaker w/ Paul J Daly and Kyle Mountsier

Welcome to quite an eventful Monday as we not only take a first look at the Automotive News Top 150 Dealer list, but also dig into a he-said-she-said about Tesla’s affordable vehicle, as well as a quick primer on today’s eclipse frenzy.

It’s finally released, from the AN article: “The Automotive News top 150 dealership groups collectively sold 3,764,272 new vehicles in 2023, representing a 24.1 percent share of the industry's total retail sales of 15,614,328. In 2022, the groups on the list sold 23.3 percent of the industry's retail sales, or 3,231,490 of the industry's 13,865,803 vehicles sold.

• Represented at ASOTU CON so far:
  • 1. Lithia 2. Autonation 4. Group 1 16. Ourisman 26. Walser 59. DGDG 84. Sam Pack 87. CMA

Is Tesla's $25k car dead? Amidst escalating competition from budget-friendly Chinese EVs, Tesla is reportedly canceling its long-awaited affordable car project, pivoting the focus towards the development of autonomous robotaxis.

• Tesla abandons plans for a $25,000 vehicle, a key part of Elon Musk's vision for mainstream EV adoption, in favor of focusing on self-driving robotaxis.
• The decision marks a significant shift from Tesla's initial strategy to use luxury model profits to fund more accessible EVs for the average consumer.
• Despite Musk's dismissal of Reuters' report as "lying," Tesla shares fell 3.6% at market close, with a brief recovery following Musk's announcement of a Tesla Robotaxi unveil on August 8.
• Tesla's decision was informed by discussions in a large employee meeting in late February, communications from an unnamed program manager about halting the affordable car project, and a fourth individual optimistic about the strategy pivot. These were backed by messages and company communications seen by Reuters, highlighting internal deliberations and directions

Business is booming across a swath of the US thanks to today's total solar eclipse

• Today's total solar eclipse, visible across North America, is likened to a celestial blackout event, promising an early afternoon spectacle from Texas to Maine, not to be repeated in the US until 2044.
• The eclipse is anticipated to boost the US economy by $6 billion, with millions treating the event as a major holiday, rivaling the financial impacts of major events like Taylor Swift’s Eras Tour and the Super Bowl, as cities along the path of totality prepare for an influx of visitors and businesses roll out themed promotions.
• Notably:
  • Indianapolis is preparing for 500,000 visitors—more than 7x the attendance of the Super Bowl it hosted in 2012.
  • Niagara Falls expects to host up to 1 million people for the eclipse. It typically gets 14 million visitors…throughout the entire year
  • Companies are rolling out eclipse-themed promotions, such as Delta’s two flights that track the path of totality.

Hosts: Paul J Daly and Kyle Mountsier
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