Building is Booming, New NADA Chair, Auto Ventures Predictions, Text to shop
Manage episode 351331162 series 2988189
It’s ‘go time’ for 2023 as we talk about the all-time boom in factory builds and say hello to the new NADA Chair. We also review the Automotive Ventures top 10 predictions of 2022 and 2023, as well as talk about a newly launched text-to-shop feature from Walmart.
- Manufacturing Boom The USA industry has seen the biggest boom in auto-factory building in decades and is being driven by car makers' shift towards EVs, with $70 billion earmarked for such projects.
- Two-thirds of this investment is going towards sites in the US South (GA, TN, KY) moving away from the Great Lakes region
- Avg of 2016-2020 was $5.52B
- The global auto industry plans to spend a total of $526 billion on EVs by 2026.
- Geoffrey Pohanka, 65, who currently serves as NADA vice chairman, will succeed Mike Alford to be the 2023 NADA Chair. Pohanka is a third-generation dealer who serves as chairman of the Pohanka Automotive Group in Capitol Heights, Md.
- “As someone who grew up in the car business and with my family’s involvement with NADA for generations, I am honored to take the reins as the next NADA chairman,” said Pohanka. “The auto industry is a rewarding and exciting business, and I’m fortunate to be a part of it. NADA has an amazing board and an amazing staff. Together, we can create a stronger environment for the industry, to help create a vibrant economy and stronger communities.”
- Auto Ventures top 10 predictions 2022 and 2023
- This years list includes:
- Tekion acquired by Salesforce
- Carvana acquired by Amazon
- Reset in both AutoTech and Dealer valuations
- Major focus on cost reduction
- Bonus: It will be the year of the EV
- This years list includes:
- After a year of beta testing, Walmart is launching a feature called "Text to Shop", which allows customers to add items to their online shopping basket via text message.
- Must be linked to the Walmart app
- Customers can switch items, review their cart, check out and schedule pickups and deliveries using text or the Walmart app
- WM applied learnings from a $50-per-month subscription service Walmart launched in 2018, Jetblack, a Text to Shop, that enabled shoppers to text message personal shoppers.
- Dave Wendland, ViP, Strategic Relations, Hamacher Resource Group used the phrase “location, location, location” to define the importance of the new feature
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