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Today we are talking about identifying the things we both can and can’t control as we talk about EV credits ending for Toyota, a growing number of retirees getting back into the workforce due to rising costs, and Facebook calling it quits on its podcast platform just one year after launch. 

• Toyota is the next manufacturer in line to expend their federal EV tax credit following Tesla and GM
  • $7,500 tax credit to buyers of fully or partly electric cars, but only up to 200,000 per company
  •  183,000 as of the end of 2021, according to an analysis by BloombergNEF (8,421 last quarter
  • phase-out process starts two quarters after the cap is reached, halving the incentive for the next 2 quarters 
  • Toyota, Tesla, GM are lobbying for an extension but opposed to an additional $4500 credit for unionized manufacturers. The additional amount has reached much opposition since there is already high demand and backlog for EVs
  • Take away for Auto Dealers: It’s good to pay attention to the air war, but you will always win or lose based on the ground game YOU control
• Workers over 55 are re-entering the workforce citing inflation as main cause
  • “labor force participation rate”,  over 55 rose to 38.9% in March from 38.4% in October
    • Over half a million people
  • Veronica, retired S.C. school teacher is reluctantly looking for a job as an Educational consultant
    • Has been babysitting grandchildren but that’s not providing enough money now
    • Certainly not looking for full time, but predicts she will need to work several more years
  • Bruce (64) has been retired for a year, misses work but cites costs as a primary reason to get back into his specialized field of compliance and information management
    • Likes the structure and routine of work, and realizes the extra money is becoming more of a necessity than a luxury
  • Take away for Auto Dealers: Where can you leverage this growing labor force in places that require some maturity, stability, and gratitude. 
• Facebook is rolling up it’s podcast platform a year after launch as it reevaluates audio strategy
  • Facebook spokesperson Adelaide Coronado told The Verge “We’re constantly evaluating the features we offer so we can focus on the most meaningful experiences.”
  • Take-away for Auto Dealers: be willing to fail, but fail fast and fail forward. Even the largest, most well resourced companies in the world fail often.

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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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