Used EV Price Drops, Battery Shipping Struggles, Chick-Fil-A's Digital-Practical Innovation

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It’s a Monday close to the month and we’ve got all the energy as we talk about Used EV Pricing, what it’s going to take to safely ship EVs, as well as an elevated solution to deliver digital orders by Chick-Fil-A.

• EV prices continue to plunge, causing a ripple effect across the used car sector and putting a dent in dealer profits. Analysis shows a year-on-year drop in used EV prices eight times higher than other cars, with economic uncertainties, low gas prices, and general lack of interest dampening consumer enthusiasm for EVs.
  • Analysis of 1.8 million used cars by iSeeCars showed a 3.6% year-over-year drop in June 2023 for 1 to 5 year old used cars, but used EV prices fell eight times more (29.5%) compared to the previous year.
  •  iSeeCars executive analyst Karl Brauer told Wards “Market share is very slow in states that already have a lot of the EV market share. In other words, Washington, California and Oregon are three of the highest states with EV market share and the slowest states in growing their EV market share.”
  • He continued “There is a threshold of between 7% and 10% where it starts to become very difficult to keep growing EV sales and market share. 
• A burning car carrier off the Dutch coast is being relocated away from shipping routes as part of a salvage operation. The ship was carrying 3,783 vehicles, including 498 BEVs…many more EVs than the originally reported 25
  • Mini, BMW and Mercedes-Benz confirmed they have hundreds of new vehicles among those on the ship
  • Maritime shippers are struggling to manage the fire risk associated with shipping EVs, as the lithium-ion batteries in these cars can cause hard-to-control fires. 
  • The number of ship fires increased to 209 in 2022, the highest in a decade, and a significant share of these incidents are associated with cargo containing lithium-ion batteries. 
• Chick-fil-A is further adapting to the digital world while cutting down on their drive-thru lines spilling into traffic as the fast-food giant plans to elevate customer convenience by unveiling two new restaurant designs - a raised, four-lane drive-thru concept in Atlanta and a walk-up only store in New York City next year.
  • The new drive-thru lanes run below the structure and can hold up to 75 cars as a "sophisticated food transport system" delivers meals to the ground level for distribution
  • The design includes an order-ahead lane for customers picking up mobile orders, which are prepared as the customer approaches to ensure freshness.
  • The New York City restaurant will be a walk-up only concept, designed primarily for mobile customers, and will not feature any cash registers or drink towers.

Hosts: Paul J Daly and Kyle Mountsier

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