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Today we cover some high level topics like earnings from Sonic Automotive and Amazon, all the way to ground-level action like the meteoric rise of catalytic converter theft. We also give you a few reasons to go into your day with a smile on your face, and the car biz in your heart. 

• Catalytic converters being stolen at record rates from across the country due to the value of the rare earth metals contained in them. 

  • 2020: 14,433  2019: 3,389  2018: 1,298  (2021 numbers not available yet)
  • Up 425+% from 2019 and 1100% from 2018
  • “On one day in April in Houston, AutoNation Toyota Gulf Freeway had 66 vehicles waiting to have their catalytic converters replaced after thieves stole them. Two of those vehicles were back for a second time after being targeted again.”
  • Contain a few grams of precious metals, Rhodium 1,660, Palladium 2,200, Platinum 990/oz
  • One Tundra was down for 167 days
  • Can sell for $250-1500 depending on the model
  • Legislation requiring vin stamping is being proposed to eliminate the black market
• More Q1 growth reports from the ‘publics’. Sonic Automotive reports $97.3 million in net income, an 80% YoY increase
  • Franchised dealerships, avg gross profit per retail new vehicle doubled > $6,771 
  • Avg gross profit per used vehicle also went up
  • Total F&I gross profit per retail vehicle $2,495, an all-time quarterly record.
  • Echo Park revenue up to $625.3M but high expenses led to a loss of $34.9M
  • One acquisition in the Q1, Sun Chevrolet in Chittenango, N.Y., its first franchised dealership in the state.
• Amazon’s First Quarterly Loss since 2015: $3.8B vs $8.1B profit a year ago
  • Revenue up 7%, product sales flat
  • Big hit from its 18% stake in Rivian which has lost 65% of its value so far this year
  • Ad sales grew 25%, AWS sales rose 37%
  • CEO Andy Jassy said, “The pandemic and subsequent war in Ukraine have brought unusual growth and challenges,”
  • Amazon expess operating income for current quarter to be between -$1B and +$3B
• 
  

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Join Paul J Daly and Kyle Mountsier every morning for the Automotive State of the Union podcast as they connect the dots across car dealerships, retail trends, emerging tech like AI, and cultural shifts—bringing clarity, speed, and people-first insight to automotive leaders navigating a rapidly changing industry.

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