California had more car washes than any other state and the highest total car wash sales – $1.6 billion – in 2017, according to the 2017 Economic Census. However, the District of Columbia, which had few car washes for its population, ranked first in average sales ($879,000) per car wash. According to the Census 2019 County Business Patterns, there were 16,976 Car Washes with paid employees in the United States, 6.8% or 1,074 more than in 2015.
The mostly small businesses had 163,178 workers – up from 153,970 in 2015 – who earned a meager average annual salary of $21,911 -up from $18,703 in 2015. California, the state with the largest population and a mania around car culture and the automobile ranked first in the number of car washes and car wash employees in 2019 (2,025 and 24,851, respectively). Continue reading
Stellantis Ups Electrification Strategy by $35.54 Billion
A lot of blue sky in the presentation with nary a competitive cloud on the horizon?
Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) said today it has a comprehensive electrification strategy for its brands that will cost 30 billion euros ($35.54 billion). The conglomerate formed by the merger of Fiat Chrysler and PSA said it will use in-house expertise, partnerships, and joint ventures to “deliver advanced technology at affordable prices.” The French company joins the EV investment rush with other automakers, while claiming it too will target “sustainable, double-digit Adjusted Operating Income margins in the mid-term.”
“The strategy we laid out today focuses the right amount of investment on the right technology to reach the market at the right time, ensuring that Stellantis powers the freedom of movement in the most efficient, affordable and sustainable way,” claimed Carlos Tavares, Chief Executive Officer, Stellantis. Continue reading →