12 min
EVs Soar, Vetter Tweets, Bitcoin Rebounds The Automotive Troublemaker w/ Paul J Daly and Kyle Mountsier
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- Business
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Tuesday is for inviting Michael Cirillo to the pod! We are covering a counter-narrative to the EV decline rhetoric, Alex Vetter getting cheeky on X, and crypto currencies experiencing a surge.
Show Notes with links:
BloombergNEF's latest zero-emission vehicle report, unveiled at COP28 in Dubai, challenges the narrative of an EV slowdown, highlighting significant growth and future potential in the EV market.
EV sales are defying slowdown rumors, with worldwide projections to reach 14 million in 2023, a 36% increase from 2022. EV-only sellers such as Tesla and BYD are on pace to capture 7% of global sales in 2023.The U.S. market is showing remarkable growth with a projected 50% increase in EV sales this year.Emerging economies like India, Thailand, and Indonesia are rapidly adopting EVs, driven by affordable models in the US$10,000 range, and changing market dynamics.In the US, the Inflation Reduction Act has sparked $100B of investment in EV and battery manufacturing.One thing that has stalled are global commitments to phasing out ICE vehicles. Only 19% of countries have ICE phase out target dates, and the automakers committed to it only represent 32% of the market.
Starting with a cheeky tweet, Alex Vetter, CEO of Cars Commerce, casts a skeptical eye on Hyundai's Amazon deal, emphasizing his company's superior capabilities in facilitating vehicle sales. In a candid interview, he critiques the pilot project's scope and its implications for the auto industry.
Vetter's cheeky take on the deal: “@Hyundai — please dm me, we can enable ALL of your retailers vs 18 and do it with people actually buying cars, not dog food.”He stressed that car buying is a multichannel experience, doubting Amazon's ability to match the depth of research and advice provided by dedicated auto platforms.Vetter points out the PR benefits for Hyundai but is skeptical about Amazon's impact on actual car sales, highlighting the need for targeted digital platforms.He suggests that digital platforms like Cars Commerce are more efficient in reaching active car buyers, reducing the waste seen in mass-market advertising.It has been a while since we have talked about crypto, but the major currencies are seeing quite the rebound as Bitcoin jumps over $41k and Eth gets back about $2200.
Experts believe the potential drop in interest rates by the Fed are impacting the crypto outlook as well.Bitcoin is close to its next ‘halving’, a process in reducing Bitcoin miners every 4 years, which historically has led to record high values.But perhaps a bigger impact on Bitcoin’s rise is increasing confidence within the sector that additional cryptocurrency exchange-traded funds (ETFs) may be approved by the Securities and Exchange Commission (SEC) as soon as next month.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
Shoot us a Text.
Tuesday is for inviting Michael Cirillo to the pod! We are covering a counter-narrative to the EV decline rhetoric, Alex Vetter getting cheeky on X, and crypto currencies experiencing a surge.
Show Notes with links:
BloombergNEF's latest zero-emission vehicle report, unveiled at COP28 in Dubai, challenges the narrative of an EV slowdown, highlighting significant growth and future potential in the EV market.
EV sales are defying slowdown rumors, with worldwide projections to reach 14 million in 2023, a 36% increase from 2022. EV-only sellers such as Tesla and BYD are on pace to capture 7% of global sales in 2023.The U.S. market is showing remarkable growth with a projected 50% increase in EV sales this year.Emerging economies like India, Thailand, and Indonesia are rapidly adopting EVs, driven by affordable models in the US$10,000 range, and changing market dynamics.In the US, the Inflation Reduction Act has sparked $100B of investment in EV and battery manufacturing.One thing that has stalled are global commitments to phasing out ICE vehicles. Only 19% of countries have ICE phase out target dates, and the automakers committed to it only represent 32% of the market.
Starting with a cheeky tweet, Alex Vetter, CEO of Cars Commerce, casts a skeptical eye on Hyundai's Amazon deal, emphasizing his company's superior capabilities in facilitating vehicle sales. In a candid interview, he critiques the pilot project's scope and its implications for the auto industry.
Vetter's cheeky take on the deal: “@Hyundai — please dm me, we can enable ALL of your retailers vs 18 and do it with people actually buying cars, not dog food.”He stressed that car buying is a multichannel experience, doubting Amazon's ability to match the depth of research and advice provided by dedicated auto platforms.Vetter points out the PR benefits for Hyundai but is skeptical about Amazon's impact on actual car sales, highlighting the need for targeted digital platforms.He suggests that digital platforms like Cars Commerce are more efficient in reaching active car buyers, reducing the waste seen in mass-market advertising.It has been a while since we have talked about crypto, but the major currencies are seeing quite the rebound as Bitcoin jumps over $41k and Eth gets back about $2200.
Experts believe the potential drop in interest rates by the Fed are impacting the crypto outlook as well.Bitcoin is close to its next ‘halving’, a process in reducing Bitcoin miners every 4 years, which historically has led to record high values.But perhaps a bigger impact on Bitcoin’s rise is increasing confidence within the sector that additional cryptocurrency exchange-traded funds (ETFs) may be approved by the Securities and Exchange Commission (SEC) as soon as next month.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
12 min