Business Insights and Market Implications Summary

Nissan Fiscal Year 2024 Losses

• Nissan projects $5-$5.3 billion in losses for FY 2024, a significant increase from the initial $800 million estimate.
• The losses stem from mismanagement under former CEO Carlos Ghosn, slow sales, poor product performance, EV market slowdown, and a failed merger attempt with Honda.
• Despite the losses, Nissan maintains a strong cash reserve of $10.5 billion and is restructuring under new CEO Ivan Espinosa.

IndyCar Indianapolis 500 Open Test

• Rookie drivers are adjusting to high speeds at Indianapolis Motor Speedway.
• PREMA Racing's Shwartzman participated in the Rookie Orientation Program.
• Kirkwood had a strong test and expects to contend for the win, while Sato crashed during the boosted session, raising concerns about Rahal Letterman Lanigan Racing's qualifying performance.
• Castroneves lauded a "flawless" open test for Meyer Shank Racing.

Bahrain Grand Prix

• Piastri won the Bahrain Grand Prix, solidifying his status as a title contender.
• Norris finished third after a penalty hindered his start, while Russell achieved a podium with consistent performance.
• Red Bull struggled, with Verstappen finishing sixth due to car issues.
• Ferrari showed solid pace but lacked race-winning performance, while Alpine and Haas impressed in the midfield.

Mountaineer Honda

• The dealership has a 4.8-star rating and offers sales hours from 9:00am to 7:00pm, with service hours from 8:00am to 5:00pm.
• Inventory includes new and used vehicles, some with "Good Deal" pricing.
• The dealership provides online inventory browsing, information requests, test drives, and financing options.

Trump's Proposed Auto Tariffs

• A study indicates Trump's proposed 25% auto tariffs could cost U.S. automakers $107.7 billion.
• Dealerships are taking proactive measures, such as expanding inventory of untariffed models, offering incentives, and flexible financing without added costs beyond MSRP mark-ups.
• The need for government clarification on tariff application is highlighted, with potential 25% tariffs on goods from Mexico and Canada under the USMCA.
• "Price protection" discussions aim to safeguard against interim cost increases, potentially impacting repair costs and future innovation investments.

Stolen Car Bought Back

• A British man, Ewan Valentine, unknowingly bought back his stolen Honda Civic after the VIN was falsified, paying over $26,000.
• He identified his vehicle via personal items still inside, with police now investigating the incident.

Tesla Service Damage

• A Tesla owner reported a paint chip after a battery swap service, with Tesla denying responsibility.
• Other owners shared similar stories of service-related damage and long wait times, highlighting potential accountability issues in EV service.
• The incident underscores the need for owners to document their vehicle's condition before service.

Honda Canada's "Approved Pre-Owned" Program

• Honda Canada is expanding its CPO program with "Approved Pre-Owned," covering vehicles up to 10 years old.
• Benefits include a multipoint inspection, reconditioning with OEM parts, a 180 days/12,000 km powertrain warranty, CARFAX report, a 7-day/1,000 km exchange policy, and special finance rates.
• The program allows for higher mileage and older models compared to the regular CPO program.