Record Auto Sales, Ford's Historic Renovation, Stamp Price Surge

The Automotive Troublemaker w/ Paul J Daly and Kyle Mountsier

Shoot us a Text.

It’s Tuesday and we’re talking about strong May sales from major brands, Ford's $950 million renovation of Michigan Central Station and star-studded grand reopening concert, as well as another sign of the times…increasing stamp prices and why it matters, or doesn’t.

• Automakers are reporting strong U.S. light-vehicle sales gains for May, with a combined 10% growth among five reporting automakers, led by Toyota, Hyundai, and Kia. With the SAAR surpassing 16M for the first time this year
  • Toyota: Sales climbed 16% to 216,611 vehicles, with a significant boost from hybrid and electric models, comprising 39% of sales.
  • Honda: May sales rose 6.4% to 127,129 vehicles, driven by crossovers like the CR-V and HR-V, despite a slip in electrified vehicle sales.
  • Hyundai: Achieved a 12% increase, with significant gains from eco-friendly models, though some top sellers like the Elantra and Tucson saw declines.
  • Kia: Increased sales by 5% to 75,156 vehicles, with the Sportage and Forte leading the gains.
  • Subaru: Reported a 7% sales increase, with the Crosstrek and Forester showing strong growth, and electric Solterra sales surging by 255%.

• Ford undertook an ambitious $950 million renovation of the historic Michigan Central Station in 2018 to create a mobility hub and attract tech-savvy employees. The project faced numerous challenges, including the pandemic and reclaiming stolen artifacts an is finally about to open its doors
  • Ford bought the 18-story train station in 2018 for $90 million to house teams working on autonomous and electric vehicle technology.
  • The six-year project involved 3,100 workers, restoring original architecture and sourcing materials from the original quarry.
  • Ford reclaimed stolen artifacts, including original clock pieces and cast-iron rosettes, often negotiating with owners to buy them back.
  • “Talent attraction is our No. 1 goal now… This Corktown area will do that,” said Bill Ford.
    
• The U.S. Postal Service has received approval to raise first-class mail stamp prices from 68 cents to 73 cents starting July 14. This hike is part of a broader strategy to address financial challenges.
  • The Postal Regulatory Commission approved the 7.8% increase in mailing service prices.
  • USPS aims to raise $44 billion in additional revenue by 2031 through its new pricing policy.
  • The agency also seeks a 25% price hike for high-volume shippers using its Parcel Select service.
  • First-class mail volume fell 6.1% in the past year, marking the lowest volume since 1968.
  • 10 years ago the price of a stamp was raised to .49

Hosts: Paul J Daly and Kyle Mountsier
Get the Daily Push Back email at https://www.asotu.com/

JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/

Read our most recent email at: https://www.asotu.com/media/push-back-email