TTAC News Round-up: Tesla Stocks S(t)ink, Chrysler Takes Out an Ad, and Concept Car Anger
If you live in the north, you might consider taking your kids tobogganing on Tesla’s NASDAQ trend line.
That, GM wants less rentals, “Imported from Detroit” becomes “Deported from Auburn Hills,” automakers fear the Brexit, and rage grows around pointless concept cars … after the break!
Even the sun sets in paradise
Nothing lasts forever — not great romances, not even the relationship between automakers and their ad agencies.
Remember the “Imported from Detroit” ad during the 2011 Superbowl? That’s now just a Polaroid in a scrapbook for Fiat Chrysler Automobiles, according to Automotive News, now that they’ve parted ways with ad agency Wieden & Kennedy.
The two had been together since 2010, but they’ve now decided to see other people — though it seemed the split was amicable. No hard feelings.
So, what does the future hold? FCA isn’t saying.
If it’s Superbowl spots they’re looking for, snagging Betty White wouldn’t be a bad idea.
Time to dump that Tesla stock?
… Or hold on to it, praying that it will recover to 2014 levels?
Tesla is good at launching rockets into space (though not necessarily returning them to earth), but hasn’t yet managed to find a way to correct the declining value of its shares.
In case you were distracted by beauties in Geneva yesterday, Business Insider has detailed how a single tweet from Citron Research pushed Tesla’s stock down over four percent yesterday.
The tweet factored in all of the news swirling around the tech giant and predicted even lower share prices in the near future. It also served to bring that prediction to fruition.
Tesla’s stock currently sits about 100-points lower than it did in July of last year.
In the interest of both business and saving face with shareholders, a good expenditure for CEO Elon Musk right now would be paying Citron Research not to tweet.
General Motors wants a more expensive used car
Posting a slip instead of gains, General Motors’ February sales numbers weren’t anything like the its two American competitors, but those numbers don’t tell the whole story, says Automotive News.
Overall sales were down 1.5 percent, but only because GM slowed deliveries of rental vehicles in an effort to boost resale values of its products. Cancel out the rental fleet aspect and the data shows that retail sales rose seven percent, a trend GM wants to continue.
It looks like the days when you could pick up a second-hand Cavalier or Sunfire for a song are over, but doesn’t that sound like a good thing?
Don’t poke the Brexit bear, automakers warned
It might be a good idea for automakers to keep it zipped when it comes to the topic of Britain potentially leaving the European Union, an industry watcher warns in Forbes.
Trade will happen in either event, Neil Winton argues, but when executives open their mouths and stake out a particular side of the debate, it runs the risk of turning off their company’s consumers and local partners.
Still, talk has heated up in recent days about the possible ramifications of Britain leaving the EU after the June 23 vote, with reports of similar discussions occurring at this week’s Geneva Motor Show.
A poll of 700 British and German companies published in Britain’s The Guardian in mid-February found that more favored the status quo than an exit scenario.
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