AD #4221 - Used EVs Have Lowest Ownership Costs; GM’s Billion-Dollar Subscription Surge; Lisa Drake To Lead Ford Energy
About this episode
A recent study reveals that three-year-old used EVs now have the lowest lifetime ownership costs, outperforming traditional gasoline vehicles. With over 300,000 EVs coming off lease this year, they could become highly sought after. Meanwhile, GM is experiencing a surge in subscription revenue from its OnStar services, while Ford is launching a new battery division led by Lisa Drake. The episode also discusses Renault's strategic focus on the Indian market and Genesis's shift to a dealership model in Europe to boost sales.
EV
"This is underlying Daily the show dedicated to enthusiasts of the global automotive industry. A study from the University of Michigan shows that three year old used evs now offer the lowest lifetime cost of ownership across nearly every vehicle class."
An EV is a car that runs on electricity instead of gas. They are usually better for the environment and can save you money on fuel.
EV stands for electric vehicle, which is a car that is powered entirely by electricity rather than gasoline or diesel. EVs are known for being more environmentally friendly and often have lower operating costs compared to traditional vehicles.
lifetime cost of ownership
"A study from the University of Michigan shows that three year old used evs now offer the lowest lifetime cost of ownership across nearly every vehicle class, beating out new and used gasoline hybrid and plug in hybrid models."
Lifetime cost of ownership is how much money you will spend on a car from the time you buy it until you sell it. This includes things like how much you pay for gas, repairs, and insurance.
Lifetime cost of ownership refers to the total cost of owning a vehicle over its entire lifespan, including purchase price, maintenance, fuel, insurance, and depreciation. It helps consumers understand the long-term financial implications of their vehicle choices.
depreciation
"The main reason. Depreciation because evs tend to lose value faster than their IC counterparts in the first few years."
Depreciation is how much a car loses value over time. When you buy a new car, it starts losing value as soon as you drive it off the lot.
Depreciation is the reduction in the value of an asset over time, typically due to wear and tear. In the automotive context, it refers to how much a vehicle's value decreases after purchase, which can be significant in the first few years.
IC equivalent
"A three year old mid sized electric suv can save an owner roughly thirteen thousand dollars over its remaining life compared to buying its IC equivalent, with a lot of the savings coming from charging at home."
IC equivalent means cars that run on gasoline or diesel, as opposed to electric cars. It's a way to compare the two types of vehicles.
IC equivalent refers to internal combustion engine vehicles, which are traditional gasoline or diesel-powered cars. This term is often used in discussions comparing electric vehicles (EVs) to their gasoline counterparts.
SK Innovation
"...Sk Innovation reported today that it lost two point six billion dollars on its battery joint venture with Ford no doubt, other suppliers are getting Ding two, and yet Ford is not giving up on making batteries."
SK Innovation is a company from South Korea that makes batteries for electric cars. They work with car companies like Ford to help create better battery technology.
SK Innovation is a South Korean company involved in the production of batteries and other energy solutions. It has partnerships with various automakers, including Ford, to develop electric vehicle batteries and other technologies.
Ford Energy
"Last month, it announced that it was starting a new business unit to make batteries for energy storage, which public utilities and data centers need. That new business unit is called Ford Energy."
Ford Energy is a new part of Ford that makes batteries for storing energy. They help places like power companies and data centers use energy more efficiently.
Ford Energy is a new business unit created by Ford to focus on battery production for energy storage solutions. This unit aims to support public utilities and data centers with reliable energy storage options.
Renault
"Renault dropped out of the US market in nineteen eighty seven when it sold American motors to Chrysler, and it dropped out of the Chinese market in twenty twenty."
Renault is a car company from France that makes a variety of vehicles, including electric cars. They used to sell cars in the US but left the market in the late 1980s.
Renault is a French multinational automobile manufacturer known for its innovative designs and electric vehicles. It has a significant presence in Europe and has been involved in various partnerships and alliances in the automotive industry.
crossovers
"It's making India a top priority with a lineup of low cost crossovers in the pipeline. As we reported on Monday, India and the EU just signed a trade agreement that will slash Indian."
Crossovers are cars that are built like SUVs but are usually smaller and easier to drive. They have more space than regular cars and are great for families.
Crossovers are a type of vehicle that combines features of cars and SUVs, typically offering a higher driving position, more cargo space, and a more comfortable ride compared to traditional SUVs. They are popular for their versatility and family-friendly design.
Stellantis
"In an effort to boost sales, Stellantis is slashing prices in its largest European market. The automaker began cutting prices in France last year and plans to continue them in twenty twenty six."
Stellantis is a big car company that makes many different brands of cars, like Chrysler and Peugeot. It was created when two companies combined.
Stellantis is a multinational automotive manufacturing corporation formed from the merger of Fiat Chrysler Automobiles and PSA Group. It encompasses a variety of well-known automotive brands, including Chrysler, Dodge, Jeep, Peugeot, and Citroën.
Opel Corsa
"The Opel Corsa is now available for fifteen thousand nine hundred euros, the Fiat Pandina starts at only nine thousand nine hundred..."
The Opel Corsa is a small car that is easy to drive around cities. It's known for being practical and fuel-efficient.
The Opel Corsa is a popular subcompact car produced by the German automaker Opel. Known for its practicality and efficiency, it is often favored for urban driving.
Fiat Panda
"The Fiat Panda starts at only nine thousand nine hundred, and the Peugeot 208 is offered with a monthly leasing rate of only two hundred and eight euros."
The Fiat Panda is a small car made by Fiat. It's designed to be practical and is often used for driving in cities because it's easy to park and use.
The Fiat Panda is a city car produced by the Italian manufacturer Fiat. It is known for its compact size, versatility, and affordability, making it a popular choice for urban drivers.
Peugeot 208
"...the Peugeot 208 is offered with a monthly leasing rate of only two hundred and eight euros. Reuter's reports that the help regain market share in Europe and North America..."
The Peugeot 208 is a small car made by Peugeot. It's popular for its modern look and good fuel economy, making it a great choice for many drivers.
The Peugeot 208 is a supermini car produced by the French automaker Peugeot. It is known for its stylish design, efficient engines, and advanced technology features, appealing to a wide range of drivers.
OTA
"...using OTA, allowing your executives oversight throughout the process. Wireless Neovi Cloud your vehicle update solution in production and on the road..."
OTA means Over-The-Air, which is a way to update a car's software without needing to take it to a shop. It allows car makers to fix problems or add new features remotely.
OTA stands for Over-The-Air, a technology that allows software updates and data to be sent to vehicles wirelessly. This enables manufacturers to improve vehicle performance, fix bugs, and add new features without requiring physical access to the car.
Genesis
"Hondai's premium brand, Genesis, is ditching its direct sales model in Europe..."
Genesis is a brand of luxury cars made by Hyundai, similar to how Lexus is made by Toyota.
Genesis is the luxury vehicle division of the South Korean automaker Hyundai. It was established to compete with other luxury brands like BMW and Mercedes-Benz.
direct sales model
"Genesis says it's making the change because it wants to grow sales and the direct sales model is inscalable."
A direct sales model means the car company sells cars directly to buyers instead of using car dealerships.
A direct sales model allows manufacturers to sell vehicles directly to consumers without intermediaries like dealerships. This can streamline the buying process but may limit market reach.
GM
"GM is set to earn billions from its software and subscription services."
GM stands for General Motors, a big car company that makes many different types of vehicles.
General Motors (GM) is one of the largest automobile manufacturers in the world, known for brands like Chevrolet, GMC, Cadillac, and Buick. It has been increasingly focusing on software and technology in its vehicles.
deferred revenue
"...deferred revenue last year from its on Star related connected features..."
Deferred revenue is money a company gets in advance for services it hasn't provided yet, like subscriptions or future deliveries.
Deferred revenue refers to money received by a company for goods or services that have not yet been delivered. It's a common accounting practice for subscription services and prepayments.
Super Cruise
"...and super Crews hands free driving for clarity."
Super Cruise is a feature in some GM cars that lets you drive without using your hands on certain roads, making it easier for long trips.
Super Cruise is GM's advanced driver assistance system that allows for hands-free driving on certain highways. It uses a combination of cameras, sensors, and GPS to navigate.
hands-free driving
"Ford also reported that it saw big increases in hands-free driving use. Last year, customers drove about two hundred and sixty four million miles using the feature..."
Hands-free driving means you can drive a car without using your hands on the steering wheel or feet on the pedals. The car does a lot of the driving for you, which can make it easier and safer.
Hands-free driving refers to technology that allows drivers to operate their vehicles without needing to physically control the steering wheel or pedals, often utilizing advanced driver-assistance systems (ADAS). This technology enhances convenience and safety by allowing drivers to focus on other tasks while the vehicle handles driving functions.
Ford F-150
"...the F-150 accounts for about forty five percent of total use, and just like GM, those numbers will continue to grow this year."
The Ford F-150 is a popular truck that many people use for work and everyday driving. It's known for being strong and able to carry heavy loads.
The Ford F-150 is a full-size pickup truck that is part of Ford's F-Series lineup. Known for its durability and versatility, it is one of the best-selling vehicles in the United States, often used for both work and personal purposes.
Ford Expedition
"...our While Blue Cruise is available on the Explore Expedition, Mustang, Machi and the entire Lincoln lineup, th..."
The Ford Expedition is a big SUV that can carry a lot of people and stuff, making it great for families or road trips. It's known for being comfortable and having lots of space inside.
The Ford Expedition is a full-size SUV designed for families and those needing ample space and towing capacity. Known for its robust build and advanced technology features, it is often highlighted for its comfort and versatility in both urban and off-road settings.
Ford Mustang
"...ue Cruise is available on the Explore Expedition, Mustang, Machi and the entire Lincoln lineup, the F one f..."
The Ford Mustang is a popular sports car that many people love for its speed and cool looks. It's been around for a long time and is often talked about because it's a classic American car that represents fun driving.
The Ford Mustang is an iconic American muscle car known for its powerful performance and distinctive styling. Since its introduction in 1964, it has become a symbol of freedom and speed, often discussed for its impact on automotive culture and its ongoing evolution in design and technology.
Blue Cruise
"Not only is it launching the latest version with automatic lane changes, Ford is expanding Blue Cruise to four new models in Europe."
Blue Cruise is a feature from Ford that lets you drive without using your hands on the steering wheel. It helps make driving easier, especially on long trips.
Blue Cruise is Ford's hands-free driving technology that allows drivers to operate their vehicles without using their hands on the steering wheel under certain conditions. It is designed to enhance driving convenience and safety on highways.
Mercedes-Benz
"...Mercedes-Benz CEO Ola Collenius claims that US Commerce Secretary Howard Lutnick tried to get the automaker to move its headquarters from Germany to the US."
Mercedes-Benz is a luxury car brand from Germany that makes high-quality cars and trucks. They are known for their stylish designs and advanced technology.
Mercedes-Benz is a German automotive brand known for luxury vehicles, buses, and trucks. The brand is recognized for its high-quality engineering, advanced technology, and performance-oriented vehicles.
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