Sales Chutes and Ladders, Gender Gap in EV Purchasing, GenZ Getting Their Hands Dirty

The Automotive Troublemaker w/ Paul J Daly and Kyle Mountsier

Q1 numbers are rolling in and the reports are mixed…go figure. This Wednesday we are also looking at some cultural broad strokes, including the stark gender gap in EV purchase behavior and GenZ returning to college-less skilled trades.

General Motors' sales dipped in Q1, contrasting with Toyota and Honda's robust gains, signaling shifting market dynamics.

• General Motors' sales in the U.S. faced a downturn in Q1, with only the Buick brand showing an upward trend. GM cited lower fleet shipments as a reason for the decline, though retail volumes saw a 6% rise.
• Toyota and Honda experienced significant sales growth, driven by strong demand for hybrids and an increasing inventory.
  • Toyota's sales leapt 22% in March, with substantial increases across car and light-truck categories.
  • Honda reported a 15% increase in volume at the Honda division, with car sales outpacing light-truck sales.
• Inventory sits at 1.7M new vehicles, up 39% from 2023, while avg incentives per vehicle increased 67% YoY to $2800, according to JD Power.
• New car avg prices are down to $44,186, with only 16% of vehicles in March selling over MSRP, down from 31% in March 2023.

Despite the growing appeal of electric vehicles (EVs), a noticeable gap exists in their adoption among women, driven by design and safety related concerns including range anxiety and designs for taller people. Kate Harrison, co-founder of MoveEV, is working to highlight the need for the industry to address these disparities and create more inclusive experiences.

• Range anxiety, safety concerns at remote charging stations, and the high initial cost of EVs deter women, alongside a lack of awareness about EV benefits.
• Initial designs like the 2017 Tesla Model S seemed tailored for taller individuals, posing comfort issues for women, unlike the more accommodating 2024 Model Y.
• Men comprise 67% of EV buyers, with only 34% of women considering an EV for their next vehicle, pointing towards a significant gender gap in EV adoption.
• Harrison emphasizes the cost-saving and environmental benefits of EVs, urging for greater female participation to not miss out on these advantages.

The allure of the skilled trades is capturing the interest of Gen Z, marking a pivotal shift from traditional college pathways as competitive salaries and the incorporation of technology are making trades like construction, welding, HVAC, and automotive increasingly attractive.

• As college enrollments decline, vocational training programs see a 16% increase, with construction trades and HVAC programs gaining popularity.
• The median pay for new hires in construction trades rose to $48,089 last year, outpacing the $39,520 earnings of professional services roles, showcasing the competitive earning potential in skilled trades.
• While nearly 80% of young respondents in a survey faced parental pressure to pursue college, the same group sees greater job security in the skilled trades.

Hosts: Paul J Daly and Kyle Mountsier
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