This week we’re seeing a desire for efficiency and streamlining in the car industry, whether that’s shedding management jobs at Daimler to free up capital for new investments, or harnessing the power of blockchain technology to create efficiencies in the dealership supply chain.  

JP Morgan seeks to revolutionize dealership inventory 

The investment bank’s car wholesale division – Chase Auto – is hoping to make life easier for auto dealers by implementing blockchain technology in the vehicle supply chain. As Coindesk reports, the company has filed a patent relating to a new way for car dealerships to borrow against retail inventory. 
 

As each car produced to be sold in the US has a unique VIN number, which can be entered into a private blockchain, making it easier to track inventory and remove the need for physical in-person inventory checks. The result should be easier real-time inventory management for auto dealership owners.  
 

Christine Moy, blockchain lead at JP Morgan, said that the pilot project is set to be tested with a selection of US carmakers, but did not give any further details at this point.  

Tesla’s new Cybertruck makes headlines 

Last week, Tesla’s new futuristic pickup made headlines for the wrong reasons, when a publicity call to show the vehicle’s strength did not go as planned. Tesla’s chief designer Franz Von Holzhausen tried to demonstrate the strength of the vehicle’s ‘bulletproof’ windows by throwing steel balls at them – only to have the windows break in front of the watching crowd (and subsequently streamed around the world). 

The so-called Cybertruck’s design also raised eyebrows – with some commentators likening it to a Grand Theft Auto-style computer game design while others thought the designers had looked to the original Blade Runner movie for inspiration. The truck is currently available to pre-order, with the first models due to come off the production line in 2021. According to The Verge, the company already has over 200,000 orders. However Tesla has been plagued with delays in the past, so it remains to be seen whether the truck will be ready on time.  

Daimler to cut 10,000 jobs around the world 

Mercedes parent company Daimler has announced it is due to shed some 10,000 workers worldwide. As the BBC reports, the job cuts have been planned to help finance the company’s move into electric vehicles. The company said it was preparing for “the biggest transformation in its history” and that “Part of this programme is to reduce staff costs by around €1.4bn by the end of 2022 and, among other things, to reduce the number of management positions worldwide by 10%.” 

Daimler employs around 300,000 people across 17 countries, and the proposed cuts would represent just over 3% of the total workforce.  

Bugatti launches an even-more luxurious version of the super-luxe Chevron 

While other car companies continue to diversify into electric and hybrid models, Bugatti is content to play to its core audience with ever-more-luxurious supercars. As Cnet reports, the carmaker has just launched the new Bugatti Chiron Noire and Elegance models – upgraded versions of its opulent Chiron. The range is inspired by the Bugatti Type 57 SC Atlantic – of which only 4 were ever made, back in the 1930s.  

Everything about the finish of the new Elegance and Noire models is sleek and chic, from the solid silver Bugatti emblem to the matt carbon-fiber bodywork and titanium exhaust pipes. Under the car’s hood, the engine remains the same for both models – an 8.0-liter W16 engine with 1,500 horsepower and 1,180 pound-feet of torque. The Chiron goes from 0-60 in around 2.4 seconds.  

Prices start at €3 million for these new Chirons and you’d better act fast if you want one, only 20 of each model will be produced.  

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