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New Normal Revenue, Steve Greenfield’s Elon Musk Hot Takes
Manage episode 424070457 series 2988189
Welcome to a brand new week as we welcome Steve Greenfield as a guest host. Today we’re covering how the publics are adapting to the “new normal" and dive into Elon Musk’s Telsa pay package.
Show Notes with links:
- The booming revenue period during the pandemic is fading, leaving dealerships to adapt to a "new normal" marked by high interest rates and rising inventories.
- Asbury Automotive Group: Acquired Larry H. Miller Dealerships and Jim Koons Automotive Cos., integrating the new F&I products across its stores. Asbury generated $14.8 billion in revenue in 2023 and expects to complete the integration by the end of the year.
- AutoNation Inc.: Focused on diversifying operations with acquisitions like RepairSmith and expanding its e-commerce parts business. The company launched autonationparts.com and remains selective with mergers and acquisitions.
- CarMax Inc.: Extended its goal to sell 2 million vehicles annually to 2030, opened five new stores, and faced challenges in the used-car market. The company reported a 5.2% drop in retail vehicle sales and a 6.6% decline in wholesale sales in fiscal 2024.
- Carvana Co.: Reported a net profit with a 17% increase in revenue, focusing on leveraging ADESA auction sites for growth. Carvana plans to convert more ADESA sites into inspection and reconditioning facilities.
- Tesla shareholders have affirmed Elon Musk’s multibillion-dollar compensation package, ensuring his position atop the world's most valuable automaker. However, Tesla faces legal challenges over the 2018 stock-option deal, now valued at $48 billion.
- Elon Musk’s stock-option deal passed in 2018, now worth $48 billion, is facing legal opposition.
- Musk celebrated with on-stage antics and ambitious visions, including billions of humanoid robots and a $30 trillion valuation for Tesla.
- Despite challenges, Tesla’s Model Y was the top-selling vehicle worldwide in 2023, marking the first time an EV led global rankings.
- ARK Invest predicts Tesla's share price will reach $2,600 by 2029, with robotaxi business driving nearly 90% of the company's value.
- "Old Elon had returned," exclaimed a Tesla shareholder, thrilled by Musk's renewed enthusiasm and bold projections.
- Comment from Automotive Ventures weekly email: Tesla’s core business is faltering, and Elon Musk’s hype has barreled past the boundaries of outright fantasy, damaging the company’s reputation and entangling it in legal battles
- Earned the comment from one user highlighted in AV email: “You are an embarrassment Steve Greenfield. Turns out you don't know much about this pay package deal. People are fools listening to you.
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
769 episodes
New Normal Revenue, Steve Greenfield’s Elon Musk Hot Takes
The Automotive Troublemaker w/ Paul J Daly and Kyle Mountsier
Manage episode 424070457 series 2988189
Welcome to a brand new week as we welcome Steve Greenfield as a guest host. Today we’re covering how the publics are adapting to the “new normal" and dive into Elon Musk’s Telsa pay package.
Show Notes with links:
- The booming revenue period during the pandemic is fading, leaving dealerships to adapt to a "new normal" marked by high interest rates and rising inventories.
- Asbury Automotive Group: Acquired Larry H. Miller Dealerships and Jim Koons Automotive Cos., integrating the new F&I products across its stores. Asbury generated $14.8 billion in revenue in 2023 and expects to complete the integration by the end of the year.
- AutoNation Inc.: Focused on diversifying operations with acquisitions like RepairSmith and expanding its e-commerce parts business. The company launched autonationparts.com and remains selective with mergers and acquisitions.
- CarMax Inc.: Extended its goal to sell 2 million vehicles annually to 2030, opened five new stores, and faced challenges in the used-car market. The company reported a 5.2% drop in retail vehicle sales and a 6.6% decline in wholesale sales in fiscal 2024.
- Carvana Co.: Reported a net profit with a 17% increase in revenue, focusing on leveraging ADESA auction sites for growth. Carvana plans to convert more ADESA sites into inspection and reconditioning facilities.
- Tesla shareholders have affirmed Elon Musk’s multibillion-dollar compensation package, ensuring his position atop the world's most valuable automaker. However, Tesla faces legal challenges over the 2018 stock-option deal, now valued at $48 billion.
- Elon Musk’s stock-option deal passed in 2018, now worth $48 billion, is facing legal opposition.
- Musk celebrated with on-stage antics and ambitious visions, including billions of humanoid robots and a $30 trillion valuation for Tesla.
- Despite challenges, Tesla’s Model Y was the top-selling vehicle worldwide in 2023, marking the first time an EV led global rankings.
- ARK Invest predicts Tesla's share price will reach $2,600 by 2029, with robotaxi business driving nearly 90% of the company's value.
- "Old Elon had returned," exclaimed a Tesla shareholder, thrilled by Musk's renewed enthusiasm and bold projections.
- Comment from Automotive Ventures weekly email: Tesla’s core business is faltering, and Elon Musk’s hype has barreled past the boundaries of outright fantasy, damaging the company’s reputation and entangling it in legal battles
- Earned the comment from one user highlighted in AV email: “You are an embarrassment Steve Greenfield. Turns out you don't know much about this pay package deal. People are fools listening to you.
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
769 episodes
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