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Is your car spying on you while naked?!

Peep-peep, this is Street Drift. The daily newsletter gives you auto industry news more often than you floss. And you don’t have to lie to your dentist about us.

So, buckle up, and let’s hit the road together!


The Greenlight: Big Tesla’s Sneaky Spy Game

Car Parts: Bits and pieces of the latest automotive news

Dashboard: Your Twin Choice of Auto Stocks- April 2023

Around the Car: First Look: Accurate Renders of Next-Gen Dacia Duster Revealed After Initial Spy Shots

GreenLight!

Big Tesla’s Sneaky Spy Game: Camera Controversy Unleashes Privacy Pandemonium

Pica Boo

Brace yourselves for some Tesla tea! Turns out their camera systems have been doing some sneaky spying. Ex-employees let it slip that from 2019-2022, they were sharing videos and images of Tesla drivers that they shouldn’t have had. Some were pretty hilarious, like a guy in his birthday suit strolling to his car, while others were straight-up shocking, like a Tesla slamming into a kid on a bike.

Tesla’s all like, “Don’t worry, it’s anonymous,” but the cameras also record vehicle location, so that’s like saying, “I promise not to peek while you change, but I’ve got X-ray vision.” Privacy, who? Big Tesla’s out here putting Big Brother to shame! 🚘😂🕵️‍♂️

Car Parts!

1- ‘Electrifying!’- Toyota plans factory overhaul for new electric vehicle platform after leadership jolt.

2- ‘Revving-riches!’- Roger Penske, Norman Braman, and Herb Chambers Among Six U.S. Auto Retailers on 2023 Forbes Billionaires List.

3- ‘Thrifty-Thrills’– Subaru reveals tougher 2023 Crosstrek Wilderness for off-road enthusiasts.

4- ‘Go Green!’– kia charges up: plans to sell one million electric vehicles annually by 2026!

5- ‘UK-Top10– Here are the top 10 best-seller cars in the UK for 2023.

Dashboard

Your Twin Choice of Auto Stocks- April 2023

  • Inflation has led consumers to prefer used cars over brand-new ones, simultaneously boosting used car sales.
  • AutoZone and Genuine Parts are two stocks that stand to benefit from this trend in auto sales.
  • Both companies are expanding their offerings as providers of automotive re-placement parts
  • AutoZone, with over 6,000 stores across the Americas, offers a wide range of products for various types of vehicles.
  • AutoZone stock is up +1% year to date, while Genuine Parts is down -6%, both trailing the S&P 500’s +7%.
  • Over the last three years, AutoZone stock has soared +186%, while Genuine Parts has climbed +142%, outperforming the benchmark.
  • AutoZone stock is trading around $2,500 per share and is only 4% away from its 52-week high. 
  • AutoZone’s forward price-to-earnings ratio (P/E) is 19.5X.
  • Genuine Parts stock is trading at $162 per share and is 14% lower than its 52-week high.
  • Genuine Parts’ forward P/E ratio is 18.4X.
  • Genuine Parts has a P/E valuation below the S&P 500’s at 18.4X but above the Automotive-Replacement Parts industry at 14.5X.
  • Genuine Parts trades 21% below its decade high of 23.4X and slightly below the median of 18.9X.
  • AutoZone has a P/E valuation just above the benchmark at 19.5X but slightly below its Automotive-Retail and Wholesale Parts industry average of 21X.
  • AutoZone trades 6% below its decade-long high of 20.7X, but 15% above the median of 16.9X

Growth Analysis: Automotive earnings are expected to rise by 9% in FY23 and 12% in FY24 with increasing earnings estimate revisions, while sales are forecasted to increase by 7% this year and rise another 4% in FY24, reaching a 53% increase from pre-pandemic levels in 201

Bottom Line: Both AutoZone and Genuine Parts have P/E valuations below the S&P 500, but above the Automotive-Replacement Parts industry average, with Genuine Parts trading 21% below its decade high and AutoZone slightly above its industry median

Around The Car

Spy Shot

drifters! Dacia’s gearing up to drop a new generation of their fan-favorite Duster SUV, and we’ve got the inside scoop (and some spicy spy shots) to whet your automotive appetite. This bad boy will be rollin’ on the Renault-Nissan Mitsubishi CMF-B architecture, which might just give us a hint of a hybrid powertrain in the mix. Let’s not forget that the Duster was Dacia’s second-best-selling model last year and Europe’s top retail SUV. Keep your eyes peeled for the sales launch of this game-changer, expected to hit the streets in early 2024. 🚗💨

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CONTACT US

ahmadibrahim@windowslive.com