04/01/2021
No, I didn't come up with that one. Voltswagen was the actual new name (for about 24 hours) that automotive giant Volkswagen Group announced for their US subsidiary this week, in a bid to promote the company's renewed focus on electric vehicles and its new all-electric SUV.
Initially leaked as an upcoming April Fools joke, the name change was later confirmed on official VW corporate channels, before company spokesman Mark Gillies said on Tuesday that the statement was indeed an early April Foolโs Day joke. For a company found guilty of lying in a big way about emissions (Dieselgate), this was a high-risk gag and the delivery was poor.
Joke or not (we actually don't mind the name), VW Group is a lot more serious about its ambitions for electric vehicles. Last year, between the company's 12+ brands (full list of them here) the group delivered around 230,000 all-electric vehicles. That might only be around 2% of Volkswagen Group's total vehicle deliveries, but it is already almost half of Tesla's sales.
The road ahead
VW Group expects to spend โฌ35bn ($41bn) on electric mobility over the next 5 years. With 12 individual brands to manage there's a decent chance they mess something up as they transition to electric, but even accounting for some serious ex*****on risk, that kind of investment could see Volkswagen Group become the biggest EV seller in the world.
What does this have to do with REI? Well, a LOT. The world is changing and in this market if you don't change you will be a relic of the past. I truly believe that moving with the market is the way to go. Its crazy. People can't buy houses in California let alone do ACTUAL equity deals. A few and far in between does not a market make. Cash offers are routine for purchases and NOT just investments. I actually heard of a 50k over cash offer being beat by a no contingency financed offer. Its seriously crazy. But there are pockets ALL over the country that are JUST entering the expansion phase and still have their appreciation in front of them. They are affordable especially if you know how to raise funds in a dollar rich deal poor state (Read California, Oregon, Washington....etc etc etc).
See you tonight when we discuss this on the Facebook Live tonight at 6:00 p.m. FYI EVERY Wednesday in our FB Group we do a LIVE training that will teach you some aspect of REI.
https://www.facebook.com/groups/sacrealestateclub
Sincerely,
Tapan Trivedi
[email protected]
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