A Strong EV Supply Chain, Best Lease Deals, Millennials Aging Out of Tech Jobs

Paul J Daly: 0:04

It is Monday, September 23 in upstate New York. It actually feels a little bit like fall, because it is fall today. We're talking about a strong EV supply chain, the best, least deals and millennials aging out tech jobs.

‍Kyle Mountsier: 0:20

I think it's

Unknown: 0:21

kind of ironic,

Kyle Mountsier: 0:23

yeah, well, it is ironic that that's the third story, but you got to do me like that with the whole, it's fall finally thing, if you don't know yesterday, is, like, the officials start to fall on the, you know, in the whole, like, Moon, sun, calendar thing, right? Yeah, yeah. When that, if you follow that whole thing, if you follow that whole thing, when that happens in Nashville, it's this weird thing. It's like, you know, like three weeks ago, we were like, this might be far what's happening today. This morning, I'm, I'm at the run, I'm at the gym, and on the on the thing, on the TV, the weather man is going over the weather and he and it's like this, you know, it's like, got five tiers of humidity, and it's like, not really pretty, okay, mild, somewhat uncomfortable, and then a

Unknown: 1:15

big arrow pointing to it. So it's human in Nashville today,

Kyle Mountsier: 1:19

oppressive. Is that what you got today. That's what we got. We got oppressive and 89 as far as like, yeah, no, no, no. Fall for us.

Paul J Daly: 1:30

It is not feel like that in upstate New York today, it's actually rainy for the first time in a long time. You guys have gotten rain. We have had no rain. We had a gorgeous weekend, but this morning, I can always tell how the weather is outside based on how my floors creak when I walk on them. Ah, yeah, in the summertime, they are quiet as a church mouse, like there's nothing going on. And this morning, there's a little like the temperature adjusting. I was like, Ah, I know. It's like, under 65 under 60 degrees outside, but got a little creaky up in there. I know, I know, I know, I know. It got, like, going on this week got we got a webinar coming up, two days, two days, go to asotu com, scroll. We're going to be talking about, uh, turning unresolved complaints into compliance nightmares, or how not to do that. Actually,

Kyle Mountsier: 2:16

that's because, yeah, I

Paul J Daly: 2:17

mean, it's easy to do that. The first one, it's easy. It's harder to avoid it, so make sure that you check that, put through the graphic back up. Won't Bree through it too fast. There we go. Our friends at dealer resolve. We're gonna I love the name too. It is great resolve. Let's resolve. I feel like the world will be better. Can we have political resolve? Can someone like, No, you can't have political resolve.

Kyle Mountsier: 2:43

You can't have nice things. Paul, you can't have nice things.

Paul J Daly: 2:47

Oh, please make sure. Make sure you join us. Go sign up for the webinar. That way you can get the recording, even if you can't make it live. But if you can make it live, it's so much fun because we take live questions, you can heckle us, Kyle, and I'll be there moderating the way through that, through that, I don't know what to call it. Through that event, I'm on my way, actually, to Kansas City in just a couple hours, going to vincus unleashed event. Going to be having a panel with Bob Lanham from Carnell, Katie, Mayor, and a whole bunch of other things going on at the vincue event. Going to a meet and greet the headquarters. Have you ever been there? Thank

Kyle Mountsier: 3:19

you. Haven't been there. I'm a little bit jealous. Well, I Okay, so I've been to the old headquarters, but I think they've actually moved into their new headquarters as of the beginning of September. So, oh, so I

Paul J Daly: 3:30

would get there and be totally surprised, because I was expecting that, like old school brick wall building, and I'm gonna be like, No, I

Kyle Mountsier: 3:35

think, I think they moved in September. So I went this summer and got to hang out with Danny and the crew there, so, but a really great crew. I'm going to miss it. I'm going to miss it

Paul J Daly: 3:44

for sure. Yeah. So so be there, and we have a lot of travel coming up, and a lot of things we're going to be at. We'll announce more of that in the future, and more than cars things in the future. But thanks for being here. Thanks for being a part of it. If you're not on the email, get the email at asotu com, and let's get some news. Uh, here's one that I didn't expect to read this morning, Monroe, capital is launching a $1 billion fund, wow, backed by the federal government. It is all the money backed by federal government programs to support smaller auto suppliers in their shift to supplying parts for electric vehicles, looking to keep the US competitive. The drive forward fund, as it's called, will be backed by government guaranteed lending via a Small Business Administration SBA license. The US Treasury also announced the one point, I'm sorry, a $9.1 million grant to help Michigan suppliers specifically secure EV financing. New us tariffs and EV credit rules are encouraging the shift in supply chains away from China. So this is the US has moved to kind of bolster the US side of that. Here's a quote from Monroe CEO Ted koening. He says the fund will catalyze growth and innovation within America's automotive supply chain. Yeah,

Kyle Mountsier: 4:58

period. Well. One, like, really cool to see this type of government program kind of be moved through. I will say, like, just, I think it's, I think it's important to know that this is going to start to trickle down into automotive repair facilities at some point, I'm sure. But I do love the fact that, like, the small suppliers, because those you know, I've got a buddy that works for a small supplier that supplies like, just one part to like, five auto manufacturers, right? And it's just this thing, and they all need it, but, and so they're big, but not like, they're not, like, making engines or anything, you know, yeah, and or engine blocks. It's just a small thing. And so you need these, like little suppliers to have the funds necessary to make transitions and R and D and all that. So, you know, kudos to kudos to the people that put it together, and hopefully we see innovation spurred by it.

Paul J Daly: 5:53

We got Jim ganther Just peppering the feed with hard to answer questions. Thanks, Jim. Why not shorteners, reshore supply change for ice vehicles. Okay, other question, should the government choose winners and losers? I think we all know that's a

Kyle Mountsier: 6:09

great question. It seems a little rhetorical to me, though. Got him.

Paul J Daly: 6:14

He did get him, Jim. Keep asking the questions. If we had better answers for them, we would just give you answers for them right now, but we don't, so we're gonna give you something we do have answers for it, and that is low cost leases. We've talked last week so much about affordability issues and consumer sentiment towards pricing, while September in 2024 has so many really significant lease deals on EVs for the rest of this month, making it a really good time to move people into an EV if it's a good fit for their lifestyle. Here's some of the top offers. You can get a Hyundai IONIQ five for 150 $159 a month for 24 months with 3400 or 3900 down. The ionic six is 239 a month with 3900 3999 down. You can lease a Tesla Model three for 299 a month. Or if you add in incentives, and do use their little fuel calculator that they have, would only come down to 160 a month, Kia Niro. 169 a month with the same 3999 down, 24 months and the Chevy Equinox getting on the list. 239, a month for 24 months with 3169 down. There are a few others going on there, including Vin fast. I haven't heard a lot about Vin fest 199 the VIN

Kyle Mountsier: 7:29

fast one is the shocking one. Oh, my God, it's 199 down. 199 a month, which is like back to Kia, Rio, 22,010

Paul J Daly: 7:38

like it's not I can hear all the I can hear all the commercials rolling in my head. Well, 99 down. 199 Look, these

Kyle Mountsier: 7:44

are, these are aggressive lease payments. I will say, when you're looking at a 24 month lease and putting four grand down, you're looking at just under $200 a month in raw payment, right? So you're really looking at like a 359 uh, Honda, ionic five. But even still, with zero money out zero down. Where else you getting that? Well, it's probably zero money out of pocket, plus first month's payment. So you're looking at like 400 up front.$400 a month for an ionic five is still a pretty aggressive lease payment.

Paul J Daly: 8:14

You know, with low commitment 24 months, super low

Kyle Mountsier: 8:17

commitment for 24 months, that's a really low lease payment for a 24 month lease. It's tempting, you know, we're going to continue to see incentives thrown at these, both from the federal government and from the OEMs. Dealers are asking for the incentives because they can't get these cars off the lot in some cases, although I don't think that Hyundai and Kia are struggling as some as much as some of the other manufacturers from lot debt. But so, so fun to, kind of to see this type of stuff advertised. It's, I think it's just good for the overall economy. It's like, hey, look, there are cards that you can actually afford for in the market, right?

Paul J Daly: 8:53

I get some people into the market. That's a good thing. Speaking of getting people in

Unknown: 8:58

the market, segue,

Paul J Daly: 9:00

there's, there's some nuance and texture to this. One nuance. There's some

Kyle Mountsier: 9:05

there's some pain involved too. But with tech jobs increasingly favoring younger applicants, millennials now in their 30s and 40s, welcome for your welcome your boys you know are facing growing competition from Gen Z as employers continue to celebrate youth over experiences, prioritizing their fresh perspectives, fast adaptability and culture fit. New federal data is revealing that the number of workers under 25 in the US workforce grew 9% annually from 2014 to 2022 surpassing industry averages. Get this nearly 41% of tech workers are aged 25 to 39 compared to 33% in the overall workforces, a lot more people in the 25 to 39 age gap choosing tech roles workers over 40 are increasingly sidelined despite laws to protect against ageism since 1967 Here's a quote from John. On Rizzo a part of the study, he said that Gen X built the tech industry. There's ton of value there on his and he was reflecting on his struggle to find work at 60. Actually, he's just like a regular person trying to find a job. So obviously, like Gen X built it, but Gen Z is building it right now. As far as tech is

Paul J Daly: 10:20

concerned. I'm trying to find a quote from this article that I don't know if it was in the email summary I originally saw from this or not, but it was Mark Zuckerberg at 22 years old, and saying things that would make any HR department cringe, but basically saying we're looking for people who are young and talented, right? And what he said is, is basically this. He said, everyone knows this is him. He's 40 now, by the way, but this is him at 22 we should never be judged by what we said when we were 22 ever we said, everybody knows younger people are just smarter. That said, like a true 22 year old said, like a true 22 year old, here's the thing, it's funny when, whenever you see a generation who who was kind of like making this transition now, right? And they were the ones that were being accused of being ageist, right? And they were like, throwing the flight, but now it's like that's transitioning. And I really think the critical, the critical element here is that the tech industry, AI, all these things are changing so quickly, it's just natural that the younger generation would adopt the tools and start trying them faster, just because they're not established in their ways however. We're seeing a lot of millennials who are just on the cutting edge, like they take all their current knowledge, that an experience that they have, and they're leveraging, deploying, trying, testing these tools, and it's about, by far, outpacing anything that could be done if you just have a group of, you know, young 20 somethings that are just like, full of them, bigger. So, I mean, I think this is a story that kind of probably loops around every generation.

Kyle Mountsier: 12:01

It does. It's just times, yep, well, and I think, like this is where, you know, if you look at like the like millennials, Gen X, and say, hey, look, there's, there's a lot of great process, there's a lot of great business resilience built up in those generations. And pairing that with a a perfectly device, native change, native generation, right? Like, when you think about technology change, they are native to every every year, iPhone, every year, new technologies, every six months, change in text, you know, like, like, the functional way of interacting with a device. So the ability to, kind of like, interact with change. Think of new ideas, have that type of entrepreneurial like, native to them, or even just be device native is super helpful. So when you pair those two, and I think that's what we can get when we're building teams that are cross generational, is understanding how to pair the thought processes. And this is super important in the automotive industry. When we see a lot of young, new leaders, but a lot of legacy leaders. And when you can get those two together and understand that no one's opinion is actually greater than the others, you actually get this, like, really, really holistic approach toward the problem. And if you approach the problem as the problem and not each other as a problem, that's when teams win.

Unknown: 13:19

Yo, that was

Paul J Daly: 13:21

money right there. If you approach the problem as the problem, not each other as the problem, that feels like a winning statement. Look, it's my ball. You have a lot of good things. What we're trying to say here is go pay attention to the people.

Unknown: 13:42

Do.

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