What’s New

With the collapse of the bridge in Baltimore, a lot more than the dealership inventory is in the air right now. We are not willfully blind to that fact, but we try to offer a focused view of things so you can start your day well-informed.

We avoid opinion pieces, rage-bait, and doom-scroll vibes when we take these moments to sit with our community and look around the world we get to inhabit. Please enjoy the email and hold hope for the families affected by today’s and everyday’s news.

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The Baltimore Bridge

A cargo ship collided with the Francis Scott Key Bridge in Baltimore, leading to its collapse. The collapse resulted in the temporary closure of the Port of Baltimore, a critical hub for auto and light truck shipments, ranking as the 11th largest in the U.S.

Several major car manufacturers, including Mercedes-Benz, Volkswagen Group of America, Volvo Group, General Motors, Ford, Toyota, Nissan, and Mitsubishi, have reassured stakeholders of minimal disruptions to their operations.

Companies are adapting by rerouting shipments to other East Coast ports, with Mercedes-Benz highlighting the use of alternative distribution centers and Volkswagen noting potential trucking delays without significant impacts on vessel operations.

The full impact of the crisis on the auto industry is yet to be determined, but we will keep updates coming as they become available.

Nissan's EV Buddy System(s)

Nissan knows you gotta spend money to make money, and if you wanna make money on something that seems to be losing money for your peers, you may need to spend even more money.

• Nissan Motor commits to investing 600M Euros (about $650M) in Renault's EV unit, Ampere.
• The investment aims to bolster Nissan's position in the global EV market.
• The move signifies a deepened partnership between Nissan and Renault despite Ampere's IPO setbacks.
• Nissan is thinking about similar partnerships with Honda to best prepare for BYD and Tesla competition.

Service Lane: Ups and Downs

Service revenue is up at dealerships despite a decrease in service tickets. A recent Cox Automotive report shows some details:.

• Repair Order Volume Index: Dropped to 78.8 in February, a 4.1% decrease from January, but a 2.2% increase from February last year.
• Year-over-Year Volume Change: 12.3% decrease compared to February 2019.
• Repair Order Revenue Index: Rose to 139.9 in February, marking a 1.6% increase from January and a 4.5% increase year over year.
• Revenue Growth Since 2019: Significant 26.4% increase from February 2019, largely driven by inflation in labor and parts costs.
• Service Performance Insight: Despite a decrease in service appointments, revenue growth indicates higher costs per service and potential efficiency gains.

Diesel, Discounts, and De-Human-ing the Work Force?

Volvo's Sustainability Shift: Volvo says it has officially ended diesel production. The brand has an all-electric lineup planned by 2030.

Fisker's Financial Strategy: Facing financial challenges, Fisker slashes Ocean model prices by nearly 40% to stay competitive. The company hopes to avoid bankruptcy.

Tesla's Optimus Vision: Elon Musk unveils ambitious plans for Optimus, a low-cost humanoid robot to revolutionize labor. The Tesla AI and tech-equipped robot will cost "less than half a car," according to a recent quote by Musk.

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Volvo cutting out its diesel models doesn’t mean there is less diesel fuel around; it is simply that the fuel we have can be used for other things instead of getting people to the grocery store.

So, now there is more for important things like oil rigs, moving cargo, and of course, monster trucks.