Episode #1419: We’re kicking off the week with Steve Greenfield’s optimistic take on technology and AI, plus Volkswagen’s very American plan to grow its U.S. presence with a pickup truck, and EV lessees discovering their once-in-a-lifetime deals may actually have been once in a lifetime.

Show Notes with links:

• Today we want to start our news by reading Steve Greenfield’s letter from his Intel Report email this morning. It’s a great way to start the week:

  • As I prepared this week’s edition, I was reminded of the proverb “May you live in interesting times” (a saying often having less than positive implications).

  • Contrary to what you might frequently be reading in the press, we at Automotive Ventures believe that humans are much better off than they were even just 20 years ago, by almost any objective measure.

  • We are a team of technology optimists, and believe the future is bright, although changing at a faster pace than ever in the history of humankind. We are all living through an era of dramatic progress in technology in general, and AI specifically, the side effect of which is causing a lot of uncertainty, leading to tension and anxiety across many segments of the population.

  • We believe that where there’s rapid change, as we’re experiencing now, there will be opportunities to invest in entrepreneurs uniquely positioned to build businesses that benefit from it.

  • We believe that the entrepreneur is the lifeblood of capitalism and a country’s economic engine. No company would exist without the initial spark and effort of an entrepreneur. Small businesses and their founders are absolutely vital to the global economy, and the best way to simultaneously benefit the economy and generate wealth is to identify and financially back truly talented early-stage innovators.

  • As you digest the content of this week’s newsletter, let’s appreciate that we’re all living through the most exhilarating period in history, enjoy the rapid pace at which society is making progress, and prepare for an even more amazing future ahead of us.

  • I am thankful that we’re all on this journey together.

  • Steve Greenfield,  General Partner, Automotive Ventures
    
    

• Volkswagen is looking to make a much bigger dent in America, and apparently the answer is very American: build a pickup truck.

  • Former Audi sales chief Marco Schubert is expected to take over VW’s U.S. operations, replacing Kjell Gruner, as the automaker rethinks its approach to a market where it holds just 4% share.

  • VW brand chief Thomas Schaefer sees opportunity in pickups and large SUVs—high-margin segments where VW currently has little presence. Pickups alone represented nearly 20% of U.S. vehicle sales last year.

  • VW wants its first new U.S.-focused pickup on sale before the end of the decade, with plans to build it stateside. 

  • VW hasn't decided whether to go alone or find a partner. Ford is an obvious possibility: the companies already share EV technology, while VW’s Amarok pickup shares its platform with the Ford Ranger.

• EV leases were once the ultimate “why not?” deal, with tax credits and aggressive incentives putting pricey battery-powered cars into surprisingly affordable monthly payments. Now, as those leases mature, returning customers are discovering a very different market with some are finding their way back to hybrids.

  • Edmunds says average EV lease payments bottomed at $538 in July 2025, but some deals could be found for under $100/month. In June 2026, avg payments climbed to $707, versus $607 for non-EVs.

  • J.D. Power found 96% of EV owners would consider another EV, but affordability and available models are increasingly determining whether they actually do.

  • In California, hybrids captured 22.1% of new-car sales in the first half of 2026, versus 15.9% for EVs. Used EVs are another option, although prices—especially below $20,000—are beginning to rise.

  • Edmunds analyst Ivan Drury: “There is defection from that EV market… it is a mental hurdle to say, “Man, I used to be paying $200 a month. Now you guys want $500?”