welcome to The first episode of CBT News’ original show, The future of the automobile with Steve Greenfield, founder and CEO of Automotive Ventures, an automotive technology advisory firm that helps entrepreneurs raise capital and maximize the value of their companies.
It may not be a coincidence that this year is the New Year. This month, Las Vegas hosts the Consumer Electronics Show and Dallas hosts the National Auto Dealers Association conference.
I had the opportunity to spend a few days at CES, which turned into a de facto US auto show. Although attendance at some of the nation’s other major auto shows has dwindled, CES has more auto-related content than ever before. And at the show, you’ll find nearly all of his OEMs, suppliers, his CEOs and executives at automotive technology companies, and a significant number of investors, including bankers and his venture capitalists.
Interestingly, very few auto dealers attended CES. However, given the increasing importance of this show in the automotive sector, I think this will change.
Automotive topics at CES were mostly about new product releases, EVs, and software.
Sony and Honda have teamed up on a new EV lineup called Afeela. Frankly, I wasn’t that thrilled with the exterior design of this car. However, there are high expectations for the interior experience promoted by Sony.
Dodge seized the opportunity to launch a large EV Ram truck to compete with the Ford F-150 Lightning. Volkswagen has announced the launch of his new ID.7 EV. BMW also showcased a new concept car called the ‘i Vision Dee’. This includes a number of new technologies such as multicolor configurable exteriors using E Ink technology to display up to 32 colors in the same car. The outer surface is divided into 240 independently controlled E Ink segments that can generate a series of patterns in seconds.
There was a lot of news at CES when it came to electrification. Perhaps most notably, Mercedes-Benz followed Tesla’s lead by announcing that it would be working with Goldman Sachs and Chargepoint to build its own Mercedes-branded EV charging network across the country.
If you haven’t been to the Consumer Electronics Show, I recommend prioritizing your trip next year. You’ll be amazed at how his CES conference, the largest conference hosted by Las Vegas, dwarfs the NADA conference.
Now let’s move on to the National Auto Dealers Association conference in Dallas later this month for the first time since 1995.
With many industry trends accelerating, it’s sure to be an interesting show this year. In particular, the impact of EVs on dealers and his OEMs, facility upgrades needed by dealers to support EV sales and service, and ongoing debates about OEMs. direct-to-consumer and agency models, the separation of vehicle options into subscription offerings, and how that revenue is split between automakers and their dealers.
Many OEMs project tens of billions of dollars in new high-margin revenue as they charge consumers monthly for features such as additional horsepower, heated seats, and extended battery range. increase. For the most part, it has yet to be determined how these revenues will be divided between automakers and their dealers. But in many cases these negotiations are now between the Dealers Council and his OEM.
This year is also the year that dealers will start to feel longer service intervals for EV sales. And with over-the-air (OTA) updates, some of the work that would normally have to be done, updates made in the service bay can now be updated remotely via wifi-enabled software push.
The flip side of this is that there are literally hundreds of new EVs of the first generation on the market, so any recall of these EVs would be off the charts. There’s no shortage of work to do with these first-generation EV models.
For all these reasons and more, dealers need to keep up with the latest news cycles. As a result, I’m sure this year’s NADA will draw a lot of attendees as dealers look for answers to some of these open questions.
Personally, I am looking forward to returning to NADA. It’s my favorite weekend of the year. This year, we are honored to host a group of outstanding progressive dealers on the main stage Thursday at noon on his NADA Supersession called ‘The Future of Automotive Retail’. You don’t want to miss this. I expect an audience of 800 people and hear directly from the dealers who will be on stage with me about the future.
Please leave a note if you plan to attend NADA this year firstname.lastname@example.org. Great to catch up with you.
Companies to watch
Each week we focus on an exciting company in the automotive technology sector to watch. If you read my free monthly Industry Intel Report, I feature a few companies each month.
Two companies to watch today are Strategic DX and Accure Battery Intelligence.
StrategicDX believes that the most important relationship in the automotive retail industry is that between dealers and their customers, leading dealers to increased sales and meaningful customer retention.
Strategic DX deploys advanced technology called Your Dealer Experience (or YDE) that is directly related to this industry’s key mission.
I love Strategic DX because not only do their products help dealers sell more F&I products, but they also help dealers evolve beyond the “do it once” mentality to get better. It also helps create consumer experiences and build lifelong repeat customers.
For Strategic DX, visit www.strategic dx.com.
Accurate battery intelligence
Accuc Battery Intelligence transforms battery data into business intelligence.
Accuc is a trusted analytics partner for battery system developers, owners, operators, asset managers and insurers seeking immediate value from EV battery data. The company’s solutions help businesses assess the risk of battery failure, ensure reliability and maximize profitability using operational data and scalable cloud-based analytics.
Accuc Battery Intelligence uses award-winning battery analysis software built by world-class battery experts to ensure superior battery performance that is reliable and safe. Battery Intelligence software uses cloud-based analytics to monitor your entire lithium-ion battery fleet.
I love Accure Battery Intelligence because their validated, industry-leading continuous safety monitoring products can prevent catastrophic battery failures. As a fleet owner, you don’t have to worry about EV fire risks or warranties. No more uncertainty about aging batteries. It also helps minimize downtime and extend the life of each EV in your fleet.
AccuBattery Intelligence can be found at: www.accure.net.
So that’s a quick rundown of the big deals in automotive tech over the past week.
We would love to hear from automotive tech entrepreneurs working on solutions to help car dealerships. We are actively investing from our new DealerFund.
If you are a dealer looking to invest in an early stage automotive technology company that will benefit your business, please let me know.
If you’re interested in joining our investment club and investing directly in automotive tech and mobility start-ups with a small check, let us know.
And don’t forget to check out my new book, The Future of Automotive Retail, available on Amazon.
Thank you for watching The Future of Automotive’s CBT News this week. See you next week!
Did you enjoy this week’s episode of The Future of Automobiles? Send us your thoughts, comments and questions on this topic at email@example.com.