It Is, Indeed, Wednesday

We have some fresh news for you today. It looks like Cox released some data about April. Lucid lost less than last time, Ferrari is flirting with fire from hydrogen fuel, and Nissan is making new friends in Europe.

Let's take a look.

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Wholesale Data Wanes

Despite wholesale used-vehicle prices declining in April, the automotive industry has shown resilience across most market segments.

• Manheim Used Vehicle Value Index (MUVVI) dropped to 198.4, a 14.0% year-over-year decrease.
• April's daily sales conversion rate was 59.6%.
• Retail used-vehicle sales in April decreased by 4% from March.
• Rental risk unit prices fell 12.2% year over year.
• Consumer Confidence Index declined by 5.9% in April.

Wholesale: because you can't sell half a car.

Lucid's Q1 Leap

Lucid Motors has reported a significant increase in Q1 2024 deliveries and revenue, demonstrating steady progress as it gears up to launch new electric vehicle models later this year.

• Lucid Motors Q1 2024: Delivered 1,967 Air sedans, a 13% increase from Q4 2023.
• Q1 revenue reached $172.7 million, up from $149.4 million in Q1 2023.
• Produced 1,727 BEVs in Q1, down 27% from Q4 2023.
• Net losses decreased to $680.9 million from $779.5 million year-over-year.
• Ended Q1 with $5.03 billion liquidity.

Ferrari's Hydrogen Future

Ferrari has patented a hydrogen-powered internal combustion engine, exploring an innovative approach to sustain combustion engines under stringent future emission regulations.

• Ferrari files patent for hydrogen-powered internal combustion engine.
• Hydrogen engines emit no CO2 and minimal other pollutants.
• Patent highlights challenges: less energy-dense than gasoline, requires more storage.
• Concerns about hydrogen production's carbon footprint.
• Hydrogen infrastructure limitations are similar to those faced by fuel-cell vehicles.

Nissan's Collaborative Newness

Nissan partners with ACCIONA to launch the Silence S04 electric cars and motorcycles in Europe, enhancing sustainable urban mobility with impressive vehicle ranges.

• Nissan and ACCIONA partnership introduces Silence S04 electric vehicles.
• The product range includes quadricycles and motorcycles.
• Sales start in France and Italy in June 2024 and Germany in September.
• Vehicles offer 149 km to 175 km range, with speeds up to 85 km/h.
• Features include battery swapping and removable packs for charging.

Motorbikes: because sometimes you CAN sell half a car...

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This time next week, we will be at ASOTU CON 2024 in Baltimore. An interesting thing about knowledge is we can never hold it all, and none of it exists in a vacuum.

So, each piece of news we share adds up to the total body of knowledge our community has to work with, and next week, we sit, stand, walk, or run together to put our knowledge and passion to work.

A few well-purposed days can change how things are done for months or years to come.