Podcasts about carstory

It's the fourth Friday in March with one still to go as we talk about a new EV brand entering the US market. We also discuss the surprising cheapest lease in America right now, as well as a smooth stop for online retailer Vroom. Show Notes with links:There's going to be yet another new EV brand in town as Volkswagen Group's sporty, electric vehicle-focused Cupra brand is set to enter the U.S. by the end of the decade, debuting with two utility vehicles and leveraging VW Group's Mexican assembly plants for production.Cupra plans to introduce an electric Formentor crossover and a larger, unnamed electric crossover SUV to the U.S., using a new distribution model the company didn't articulateIn 2023, Cupra's sales surged by 51%, with Germany as its largest market, yet it eyes the U.S. for a bigger global footprint.Focused on "young, progressive customers," Cupra will target selected states, especially on the East and West coasts and the Sun Belt, using a novel distribution model.Current vehicles include the Tavascan, Born, Formentor, Leon, Leon Sportstourer, and AtecaCupra CEO Wayne Griffiths, emphasized readiness and market fit for their U.S. venture saying"We know it's always been a matter of being well prepared and doing it right if you go to the U.S.Hyundai's Ioniq 6 SE is now America's cheapest lease deal, offering a no-money-down lease for just $239 per month for 12k miles per yearHyundai has rolled out an unadvertised lease offer to dealers for the 2024 Ioniq 6 SE, making it available until April 1, 2024.Comparatively, the Ioniq 6 SE's effective cost of $249 a month undercuts the lease cost of vehicles like the 2024 Toyota Corolla LE in Southern California by over $100 monthly.While the offer applies to a 24-month lease with a 12,000-mile annual limit, it requires only the first month's payment upfrontCost of ownership may still have a few surprises for lessees as lessees as insurance costs for Ionic 6 might be higher than expectedIt looks like our friends at Vroom are coasting to a stop as they navigate the final lap of their ecommerce operations. Vroom's journey through the used-car retail market is drawing to a close, with the company anticipating a complete wind down by the end of Q1.Vroom has successfully sold off nearly all its used vehicle inventory as part of its strategy to wind down ecommerce operations and exit the used-car retail sector.Following the sell-off, Vroom has cleared its floorplan facility debt with Ally, boasting about $94 million in cash reserves as of February's end.The company is reducing its workforce to align with its scaled-down activities.CEO Tom Shortt expressed pride in the team's professionalism during this transition, focusing on an efficient and cost-effective wind-down process. Vroom now aims to leverage its remaining entities, United Auto Credit and CarStory, to enhance stakeholder value.Hosts: Paul J Daly and Kyle MountsierGet 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

It's Tuesday and there is a lot to discuss as Vroom announced the halt of used vehicle sales just as Cox released a new study on the car buyer's journey. We also talk about Tesla's latest full self driving version release that is based on neural nets, not human coders. In a not-so-surprise announcement, online used-vehicle retailer Vroom Inc. announced that it was ceasing e-commerce activities due to financial strains and a focus on liquidity preservation.The company which went public in 2020 made waves with its aggressive Super Bowl ads portraying auto dealers as torturing captors. The company had initially thrived during the pandemic with increased online vehicle shopping however started a consistent decline in profits that never stopped in the last two quarters reporting over $130M in lossesVroom plans to halt online used-vehicle sales, intending to liquidate its current inventory through wholesale channels and stop further vehicle acquisitions.Efforts to raise capital for ongoing operations and extend the vehicle floorplan facility were unsuccessful, leading to this strategic pivot.As part of its restructuring, Vroom will reduce its workforce by 800 employees, amounting to a 90% cut, while maintaining operations at its United Auto Credit Corp. and CarStory units which employ around 800 people. The 2023 Cox Automotive Car Buyer Journey Study has been released and highlights significant improvements in customer satisfaction for both new and used vehicle shopping, crediting shorter buying times as a key factor while drawing attention to a balanced approach of online and instore experiences. In 2023, satisfaction with car buying improved, with 79% of new-vehicle buyers highly satisfied, an all time high and notable rebound from declines in 2021 and 2022.New-car buyers spent around 11 hours and 45 minutes in their purchasing journey, a decrease from previous years, contributing to higher satisfaction While used car buyers spent over 14 hours, a one hour decrease.Notable areas of increased satisfaction include the test drive experience (82%) vehicle pick-up and delivery (79%), and sales team interaction (77%).The average household income of new-vehicle buyers was $115,000, with used-vehicle buyers averaging $96,000. Sticker shock eased a bit in 2023, with 49% of buyers reporting they payed more than expected vs 54% last yearTesla's much-anticipated FSD Beta v12 update is now rolling out to customers, potentially marking a pivotal moment in the company's pursuit of full self-driving capabilities.The v12 update introduces a significant shift, with the vehicle's controls now managed by neural networks rather than traditional, hard coded, programming, a major leap in Tesla's technology.This update replaces over 300,000 lines of explicit C++ code, which moves the entire system towards a more AI-centric approach to control the vehicle.Hosts: Paul J Daly and Kyle MountsierGet 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 ASOTU Instagram: https://www.instagram.com/automotivestateoftheunion

The auto finance industry saw multiple partnerships take hold last week. Flagship Credit Acceptance partnered with Pagaya, a fintech asset manager, to add a loan-to-value program to its financing offerings. Vroom, investing funding from its June IPO and September follow-on offering, last week entered an agreement to acquire CarStory, a digital services and analytics company for automotive retail powered by AI.

who remembers their first car? Ep 226 I take a look back at some of the cars I once had and share some funny stories about it. If you have a car story share it with us.CHECK OUT OUR NEW WEBSITE: havefaithletitbegin.comEach day I will share true inspirational stories from my life and others. We invite you to put your trust in us to deliver you a show that will inspire and fill your day with joy. We know each day we go out into the world our Faith will be tested. We will battle the storms together. Have Faith Let it Begin....Download, Subscribe, we are on all the following app platforms: Spreaker, ITunes, Podcast Player, IHeartRadio, tumblr, PlayerFM, SoundCloud, Castbox and Now we welcome Spotify!Subscribe to our YouTube channel: Have Faith Let it Begin https://www.youtube.com/channel/UC7QziAoxWccLMOezEFS8Xlg/featuredFacebook Page @HFLIB1978https://www.facebook.com/HFLIB1978P.O.Box 147 Walden NY 12586-0147

Utah finds its way in to Florida Or Not in the first day of X Ambassador tickets. Story #1 - Drunk woman ask cops to let her smoke weed before going to jailStory #2 - Guy gets out of jail and immediately breaks in to a carStory #3 - Man chokes cashier for putting chips in the same bag as canned goods

Utah finds its way in to Florida Or Not in the first day of X Ambassador tickets. Story #1 - Drunk woman ask cops to let her smoke weed before going to jailStory #2 - Guy gets out of jail and immediately breaks in to a carStory #3 - Man chokes cashier for putting chips in the same bag as canned goods

Utah finds its way in to Florida Or Not in the first day of X Ambassador tickets. Story #1 - Drunk woman ask cops to let her smoke weed before going to jailStory #2 - Guy gets out of jail and immediately breaks in to a carStory #3 - Man chokes cashier for putting chips in the same bag as canned goods

Market data can help car dealers make decisions around inventory. But they should be careful, as that data might not tell the whole story, says CarStory president and chief product officer Chad Bockius. In this episode and in CarStory's latest whitepaper, Bockius explains why.

CarStory creator Chad Bockius

John Price is the CEO of Vast.com, and before that he worked as a marketing executive at Between Markets, which sold to Inovis. He is also a Trilogoy alumni and spent 11 years as vice president of marketing and business development there. He was critical to the company’s growth from $0 to $250 million in revenue. Previously, John was a director of technical marketing at Neuron Data and an AI associate at Shell Oil. John holds a BS in Electrical Engineering from the University of Texas at Austin.