Ford Takes Another Swing, New Car Sales Bump, Home Depot Goes EM by 2028

Paul Daly: 0:00What's New Wednesday? Everybody coming in hot rocking the mint green. What do you got? What do you got the black the white on black? Oh, collaboration is critical. Talking about for taking another swing new car sales bump at Home Depot going em by 2021. No, not Evie. They stopped me. Let you we'll leave that one hanging. Good morning, Adrian. Good morning, the people on the livestream O'Brien are taking a beat for the first comment on the live stream. If you didn't know and you're listening to the podcast, we actually live stream the show every day on LinkedIn, Facebook and Twitter, Twitter, Twitter, YouTube. Yeah. So you can you can watch or listen or if you just watch the live stream, you should go to the podcast platform and just hit Subscribe on Apple, like share

‍Unknown: 0:47

all of the make leave

Paul Daly: 0:48

us a review all those things that people always say you make a difference. We got a review and

Kyle Mountsier: 0:53

we get four reviews today, just four new reviews that we can form. It's just take

Paul Daly: 0:59

them a podcast as the review spot that podcast hit a lot to us. It really would and it actually helps us to so you can you can help us to Oh man. So we've been releasing so much content in the last couple days. And we have a like full on convoy of content behind us. We're like look at all these cars backed up. Right? Like, we just got to, I feel like it's a merge lane. Right? It's like Berto do a convoy of con content. That's pretty much what it is. And just think of like a traffic merge like that's what the content is right now or like you got a main session. We don't even have the breakouts even like locked and loaded yet but there's way more of those. We got podcasts a soda concessions. Alright, let's give them a quick content rundown first of all, thanks to our collaborating, co presenting sponsor stream and cars for making a soda con possible. Amazing. I also want to thank effective for making the podcast stage possible, because we have a lot of content coming up for that. So basically, we have really some mainstage content yesterday, some really great panels, the future of auto retail. Future of EVs was an amazing panel to today we have what do we got? Oh, in the future. VBS is the one we released just now. It's the recent one, right? Oh,

Unknown: 2:11

it's so good. So yeah, balancing EVs in a constantly Yeah, with I'm sure. Douglas, Jennifer Newman, John Foley. And they just

Paul Daly: 2:20

you might as well just follow us on LinkedIn and hit the notifications button. So you know, when the new stuff and we if you were at a soda calm, we're probably pushing these out through the app as well. App adoption at the event was high. super high. Yeah, there's like a lot of people. I don't know. So we got that a soda. I don't know what to say. I'm like, I feel bad for releasing so much content on people. I know. But if we did

Unknown: 2:43

tell us to do one thing. We're like, I'm sorry.

Paul Daly: 2:46

I know. It tells you one thing. leave a review. Hey, go review. A soda con sessions. I'm going to start listening to these on my way home today. So soda con sessions

Unknown: 2:58

today. I love I love it because I never get to listen, I never listened to the podcasts that we do, because you're a part of making them right. But these are podcasts that you and Michael Cirillo, and Jordan Cox all did. And then I did a few we each took like four or five. I listened to one with Tony Lucas and Jordan Cox yesterday. So good. That heart of Tony Lucas, he wears it literally on his sleeve. Or

Paul Daly: 3:25

he doesn't have sleeves sometimes. Sometimes he doesn't. Sometimes he doesn't have Ceaser wears it on his arm. Adam Ross this or that? And Ross's comment, this is great. You need to tell people to do just one thing, or they won't do anything. He's so right. We're marketers, right? And we're constantly telling all the sales managers and the people like No, no one call to action, maybe like a secondary maybe if you're lucky. And here we are, like do this and this and this. And this. I don't know how what's the one thing we would ask people to do today?

Unknown: 3:55

Go subscribe to the asoto channel, on YouTube on Apple Music or, or, or on Spotify. That way, that's like 90% of our content in podcasts you get if you subscribe to the entire channel. Oh, I like

Paul Daly: 4:10

that. That's a great call to action. Cool. Just one little announcement next week. We're just going to breeze by it for a second. We're releasing episode two of more than cars though much anticipated in episode two. We'll talk about that more tomorrow. We've talked about enough but now it's time for you Aw, update. There we go. Ford has presented this feels like a positive one. Ford has presented its seven Lucky number seven proposal to the UAW offering higher pay raises and faster wage progression for new hires. So temporary workers pay is set to increase by 26% to $21 an hour and most full time workers could see and we quote more than 20% pay raise over four years. Their last offer was 20%. So now they're saying hey, we're going more than 20% the details haven't been released specifics company also committed to cutting The time it takes for new hires to reach the top tier of pay for two by more than half last time it was by half. Now it's more than half. So the proposal also promises no job losses. With the opening of four evey battery plants and insurance product commitments for every UAW representative factory. So strong, it is strong, but they also said and this isn't in the shownotes, which you can, you know, click into if you want to. They also said we're opening new battery plants. And although they promised noted job losses, they're like, We also haven't hired people for those factories, yet they get those factories we'll get to decide whether or not they're members of the Union are not. Here's a quote from Jim Farley says there's no doubt that our UAW workforce put us on their shoulders during the pandemic, and the same workers and their families were hit hard by inflation. We want to make sure our workers coming out of these negotiations with two things, a record contract, and a strong future. So we've put an offer on the table that will be costly for the company, but one that we believe still allows Ford to invest in the future,

Unknown: 6:01

then we're strong word. Let's go with him. Here's here's what I love. You know, we give, we throw Jim some shade, and we throw Jim's from love over the last year and a half. Right? We've we've been on both sides of it. But what I love is over the last let's call it a year and a half, two years, what I've seen is that he's taken the time to be at a lot of the Ford manufacturing facilities with the people that he's now communicating with through the union. Yep. And so I'm like the fact that Ford seems like they're in more of the union's graces probably is like from the Union but also the workers that are behind the Ford union the Ford mind you right yeah, it's like the brand build of the OEM to the people on the manufacturing floor started two years ago Yeah, you can't start building brand when you're in negotiations that that work

Paul Daly: 6:54

now that is the worst time like you know, when you're in the doghouse is not the time where you start buying flowers, right? It just doesn't war, or

Unknown: 7:01

when you're lacking sales isn't the time when you try and start to figure out brand.

Paul Daly: 7:07

Yeah, no way, no way at this, I think every especially the larger your organization, the more important this is we can take away just you're going to need you have less backup, you have to make decisions in business that people aren't going to be happy about right and you need if you if your intentions are really good you need to have basically the flexibility to or the headspace or the the relational collateral to be able to explain why the decision is the way it is and you can't have that if you are just in an office somewhere so like getting out walking the floor saying good morning to your people like that stuff adds up over time I call it relational capital, right because sometimes you need to spend it right you have to save it so you can spend it we How many times have we talked to executive leaders in companies like start a podcast start bringing people stuff every single day go say hi to as many people as you possibly can like brand build your executive team to the rest of your to the rest of your curious you could say it's brand build you can say it's relational equity. Like it same thing, the same thing. It's connection. It's connection it is connection. Oh right. sighs I was gonna say speaking of building. Speaking of connection. US new vehicle sales in q3 are up. Despite looming concerns over the strike. General Motors saw a 21% jump in sales benefiting from a demand in various categories. While Asian brands also experienced significant gains for its Lana's. We'll be reporting their figures soon. But GM 21% rise in sales 28% increase in evey sales from the previous quarter. And they specifically mentioned in their report, which that they have 442,586 vehicles in inventory on Tuesday to be precise, there are plenty they want to make sure people are like we got vehicles to sell us the Lantis is up one point actually saw a 1.3% decrease in sales. Toyota is up 12.2%. Kia and Hyundai are both up. And Tesla missed its q3 delivery estimates due to some planned factory upgrades they said they also happen to miss another cybertruck launch date. I don't know if anybody noticed that.

Unknown: 9:19

But we kind of slid that in the email the other day. It's not gonna happen in q3. There was one here I mean, all in all, things are still like on that upward trend still popping and I think we're gonna see if I had to guess just based on like paying attention to some of the economists paying attention to Jonathan smoke Charlie Chesbro at Cox and then what's going on like Steve Greenfield, what he's talking about how much ground stock we have what what the feel is, you know, just like there's still not a ton of ground stock, there's still a lot of energy around new vehicle purchasing. We're starting to see a little bit of a decline in in use vehicle activity, both in search volume, volume of traffic on third party inventory sites. Even like anecdotally a lot of the marketers that I know are starting to see that but the new car traffic is still very high so I still think we're gonna see a strong q4 As long as the inventory stays up there and to see these I mean 21% rise for GM at 28% increase in via in evey sales 12% for Toyota those are massive numbers in in in growth

Paul Daly: 10:24

yeah second half of the year so far yeah, it's I also saw stat just this morning yesterday that like new vehicle interest rates are close to 10%

Unknown: 10:33

Golly Whoa, and they're gonna they're gonna keep pushing them that's not

Paul Daly: 10:39

that's how Yeah, it's like that's the only because also I mean we're getting into like economics now. But the jobs report also like there are a lot of jobs available so it's like just when you think

Unknown: 10:49

like unemployment high jobs available higher interest rates

Paul Daly: 10:53

it's like your permanent for the for the quote unquote soft landing and then the planes like pulls right back up. No, no, no, no, let's get a little more altitudes to see if we can slam this thing down. I know it what a what a strange few years. I don't know. It's what all our grandkids will be studying their economy class.

Unknown: 11:09

They definitely will. This will be like a weird weird time.

Paul Daly: 11:13

Speaking of a weird time. Yeah, it especially if you like the smell. I mean,

Unknown: 11:18

let me talk about

Paul Daly: 11:19

love the smell of outdoor power equipment just running in the SAS come

Unknown: 11:23

in. We're toast, y'all just come in close. So Home Depot is aiming to have over 85% of North Americans outdoor Lawn Equipment run on rechargeable batteries by this is crazy the year 2020.

Paul Daly: 11:34

I know I wanted to hit 30 trigger, but they're like we can no trigger.

Unknown: 11:39

The retail plans to work with manufacturers to increase its selection of battery powered products or placing gas powered alternatives. The this move could reduce over 2 million metric tons of greenhouse gases annually, which is still pales in comparison to even just what motorcycles emit on an annual basis, which is over 7.5 billion metric tons in 2021. So it's still a sliver on on what the you know, that's that's 7.5 billion is cars and motorcycles, cars and motorcycles. Yeah. So you know, still a sliver in the overall like motorized greenhouse emissions. But the Home Depot is obviously leaning into where they can. Ron Jarvis, their CEO, chief sustainability officer said, by innovating residential lawn equipment away from gas powered combustible engines, we can help make our neighbors cleaner and quieter. By working with our suppliers to bring innovative and sustainable products to every aisle of our store, we can help our customers create more sustainable homes and workplaces. A lot of the move is not just around the carbon and greenhouse emissions, but also things like reduce noise, no fumes, making sure that customers don't have it. They're not wearing it on their on their clothes and the fumes that hit them. Here's the crazy. Here's the thing, though. Still similar to EVs. The electric motors are higher priced in the marketplace and just moving customers into purchasing that it's still been a hard go for companies like Home Depot and Lowe's that are trying to make this move. Paul, have I told you about my electric motor experience and

Paul Daly: 13:20

ask you electric mower? Yeah, no.

Unknown: 13:24

I own one for one week. Oh, yeah. Well, so

Paul Daly: 13:28

why did you bring it back?

Unknown: 13:29

I brought it back because it didn't cut. Well. I mean, this is only a year ago, it didn't have enough torque. It just didn't have enough torque. Yeah. Which one was it? Do you remember? It was whatever that whatever brand is blue? There's like a green. There's RYOBI is the blue one.

Paul Daly: 13:45

I mean, the green one OB Yep, was that one.

Unknown: 13:48

And I was like the one with the top battery. I was like, I gotta get the one that like really, really turns a thing, right? If I'm going to spend that I'm going to spend the extra 100 bucks and go with a nice one. Yep. And it couldn't turn the torque. And I mean, luckily I have a small yard but you couldn't go much bigger than my yard on a single battery charge. So that means you got to have two batteries. out right.

Paul Daly: 14:08

Got some great comments. Adam Ross comments the the law in California is requiring them soon. As Xavier Kleinman says didn't California ban the sale of gas powered lawnmowers by 2024

Unknown: 14:19

to be I mean, it makes sense to turning over turning this over is a lot easier. I mean, in my Home Depot and Lowe's it's probably 75% electric motors you know at this point, you just go in it's especially not just the lawn mowers but the power equipment. That's it's almost

Paul Daly: 14:34

like the interchangeable stuff I have. So I have the only electric power thing I have is DeWalt weedwacker and it runs on those big 24 volt batteries. And I have a pretty big property and it does a pretty good job. I love the fact like messing with the smaller engines like the lawn mowers aren't as bad but when you get in like weed whacker engines and blowers like those little you know Oil Gas mixes, they just end up doing weird things. Is overtime so it's nice not having to worry about it but I will say like the weedwacker itself was like 140 bucks the battery that came with the combo was 199 but if I want a second battery which sometimes I do the battery itself is like another $120 So Nathan our producer just verify they will only allow California is only allow sales of electric Lawn Equipment starting in 2024 So they got into the hot if you want your guess more you got three months,

Unknown: 15:26

three months or move to Nashville Come on now or if you're in a neighboring state,

Paul Daly: 15:31

right get a little inventory just across the board on

Unknown: 15:34

over and moving well and and I will say like my neighbor right over here to the side has a has an electric runner, I have a gas motor, just compare the lawns every single week. Very all over the place. It just does not get all of it.

Paul Daly: 15:51

I like hearing the sound of someone else mowing their lawn. It's a maze there's something about it makes me want to like just take a nap or appreciate the season. Yeah,

Unknown: 16:00

I work for me just mowing and knowing that if it's loud enough with my little mower, I can't hear anything nobody can ask that moment.

Paul Daly: 16:08

I think I'd like some commercial applications because you start to see these like writing ones and I don't know how fast they charge or anything but like in my mind I just kind of really quick picture like a commercial landscape trailer with like a big battery on it. And like pulling the big motors on charge and then putting putting like the weed whackers on the little side things and like if they all start to charge up was like that would be pretty dope. That would be cool. Pretty dope. I don't know. We're just out here to talk about live makes actually is making me want to go mow a lawn. I want to go mow the lawn and I don't know if you can mow a lawn but go do it if you can. If not get in the dealership getting your store. Take care of some people take care of some customers. We'll see you tomorrow.

‍