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Happy Election Day! Well, now that we’ve covered that… today we’re talking about how Stellantis listened to dealers and cut prices on some Jeep models, how Tesla has given up on the human-driven affordable EV, and how your name might start being incorrectly spelled on Starbucks cups this fall.

Show Notes with links:

• Stellantis has decided to significantly reduce prices on its 2025 Jeep Wagoneer and Grand Wagoneer models to address dealer concerns about high prices slowing inventory turnover.
  • Price cuts range from $3,000 to $7,000, depending on the model, with the base Wagoneer now starting at $61,945, while the Grand Wagoneer begins at $86,945.
  • The U.S. market has shown demand; Wagoneer sales are up 79% and Grand Wagoneer sales up 25% through September, supported by both retail and fleet sales.
  • Standard features have also been enhanced, including adaptive cruise control on the Wagoneer and a passenger display on the Grand Wagoneer.
  • Bob Broderdorf, Jeep North America chief, stated, “By lowering MSRPs as much as $7,000 and enhancing standard equipment... these vehicles have become even more compelling.”

• Tesla CEO Elon Musk has put to rest hopes for a human-driven $25,000 EV. He recently revealed that an affordable Tesla would only make sense as a fully self-driving vehicle, shelving plans for an anticipated mass-market, human-driven model.
  • Musk called the idea of a $25K human-driven EV “pointless” and “silly” without full autonomy.
  • Tesla’s updated plan now features the “Cybercab”, a two-door, two-seat autonomous vehicle priced at $25,000, planned for 2026.
  • This strategy change represents a pivot from Tesla's initial goal of building 20 million affordable, human-driven vehicles annually by 2030.
  • Tesla analyst Seth Goldstein “Tesla realized they were late to making an affordable vehicle versus their Chinese-EV peers… So, they changed their strategy rather than make a large investment to produce a new vehicle.”

• Get ready for your name to be spelled incorrectly on your coffee cup again. Starbucks CEO Brian Niccol is bringing Sharpies back into stores as part of his "Back to Starbucks" strategy, aiming to revive a personal touch that Starbucks lost during the pandemic.
  • After three quarters of declining sales, Niccol is cutting unpopular items, like the Oleato, and removing charges for non-dairy substitutes.
  • Sharpies will replace digital stickers on cups, allowing baristas to write personal notes or names, enhancing the in-store experience.
  • Niccol’s “Back to Starbucks” plan focuses on creating a warm, welcoming environment that highlights skilled, personable service.
  • “Our fourth-quarter performance makes it clear that we need to fundamentally change our strategy so we can get back to growth,” said Niccol.

Hosts: Paul J Daly and Kyle Mountsier

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