In this video I talk about the big lawsuit against Lucid Motors aka CCIV, who are currently being sued by the Illinois automobile dealers association. I also talk about Lucid's newly released plans to bring to market a $25,000 EV AND, their worldwide expansion plans.
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The lawsuit was filed by all members of the Illinois automobile dealers association against the Illinois secretary of state, Rivian and Lucid Motors.
The allege that Lucid Motors aka CCIV and Rivian cannot sell their vehicles to the end customer as it goes against the vehicle code. And they should also not be opening showrooms or dealerships in Illinois because, again, they arent licensed to sell new vehicles.
This vehicle code seems to simply protect the motor dealers and allows them to mark up the prices of cars and rip-off the end customer, making sure the dealer gets their nice fat margin.
This is a tough one really, motor dealers employe 40,000 people in Illinois alone, what Lucid and Rivian, and even Tesla are doing, is effectively making the motor dealers redundant, putting hundreds of thousands of jobs across the US at risk.
But, at the same time, its a very dated business model! That revolves around ripping off the end customer by adding profit margin after profit margin.
Tesla actually faced a very similar case a few years ago in the state of michigan and the sale of tesla's were banned. This decision was recently overturned last year as many residents simply moved states or drove to a neighbouring state to buy a tesla.
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#CCIV #LucidMotors #ThomasJamesInvesting
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The lawsuit was filed by all members of the Illinois automobile dealers association against the Illinois secretary of state, Rivian and Lucid Motors.
The allege that Lucid Motors aka CCIV and Rivian cannot sell their vehicles to the end customer as it goes against the vehicle code. And they should also not be opening showrooms or dealerships in Illinois because, again, they arent licensed to sell new vehicles.
This vehicle code seems to simply protect the motor dealers and allows them to mark up the prices of cars and rip-off the end customer, making sure the dealer gets their nice fat margin.
This is a tough one really, motor dealers employe 40,000 people in Illinois alone, what Lucid and Rivian, and even Tesla are doing, is effectively making the motor dealers redundant, putting hundreds of thousands of jobs across the US at risk.
But, at the same time, its a very dated business model! That revolves around ripping off the end customer by adding profit margin after profit margin.
Tesla actually faced a very similar case a few years ago in the state of michigan and the sale of tesla's were banned. This decision was recently overturned last year as many residents simply moved states or drove to a neighbouring state to buy a tesla.
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Subscribe for more related content - https://youtube.com/c/ThomasJamesPropertyInvesting
My Favourite Investing Books;
Rich Dad Poor Dad - https://amzn.to/3gqVJBW
The Big Short - https://amzn.to/2ExjIB5
The Wolf of WallStreet - https://amzn.to/2PgVeyo
The Four Hour Work Week - https://amzn.to/30hr3xe
Think and Grow Rich - https://amzn.to/2XkLyHg
Intelligent Investor - https://amzn.to/2BUqEYg
The Equipment I use to make these videos;
Camera - Canon EOS M50 - https://amzn.to/3225DVx
Microphone - Rode Video Mic Go - https://amzn.to/2F4C5On
Lighting A - 2x Softboxes - https://amzn.to/331O1IW
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Small whiteboard - https://amzn.to/2R6urW5
The information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. IF stocks or companies are mentioned, Thomas MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Thomas' videos. If you need such advice, please contact a qualified accountant, solicitor, insurance agent, contractor/electrician/engineer/etc. or financial advisor.
This is not an advertisement of property for sale or not investment advice to purchase any stock mentioned in this video or any other videos and shall not be construed as anything other than an opinion for entertainment purposes only.
Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel so I can continue to provide you with free content each week!
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#CCIV #LucidMotors #ThomasJamesInvesting
If you believe Lucid motors, who have not sold a single car yet, can make a $25K car like Tesla you are hopelessly naive.
Lolol liar bait click channel .
Tom and CCIV are like bread and butter
Am I the only one who sees the irony? Car dealers sell us cars. Before you rip into them, do consider you're also a dealer – simply selling us subscriptions, brokerage accounts, Patreon, etc., throughout the video, the description, and even your pinned comment. I'm not a fan of anyone fluffing their content just to push one product or another. Try to be a little less obvious, and you might just establish a decent following one day.
To be honest I hope that affects the car dealers and they go away. All the years that I buy cars the dealers are all crooks
Illinois 😂😂😂😂😂😂😂😂
Who will win? Are you serious? I'd say it's probably the company that has multiple factories and already produces and sells half a million cars per year over 4 models.
Lawsuit will go away in 45 days. …and no; Lucid is NOT in ‘trouble’…. nice clickbait.
But doesn't Tesla sell directly to the customer? There's Tesla showrooms and Tesla's online store. And couldn't Lusid jusy it just get their dealership license
Hey man great video as always… finally subscribed … well deserved and gotta support a fellow small creator! Thanks Thomas!
Everyone is doing whatever they can to keep this stock from taking off. LMAO That's how you know it's the real deal.
next thing for lucid is to built the rocket and go to mars just like tesla, also lucid should own bitcoin too
The lawsuit will go nowhere.
You look like a college kid. TSLA had same issue not just Lucid kid. Due more diligence before posting idiotic videos. School must be still closed for you to trade in Robinhood with $1400 account from stimulus check. Did you also know that TSLA Model S had worst rating by Consumer Reports due to poor paint jobs and fitting trims due to making Model S from old Toyota factory make shift in tents? Lucid Air is made from brand new factory from scratch to build Lucid with better quality control. You wouldn't know these because you are not reading 8 hours a day. LOL
Hello thomas, Can you explain how SPAC works? and how much does CCIV own of Lucid? from what I know CCIV only owns 27% of Lucid. does that mean Investing on CCIV only gives u a 27% of lucid share price? Many thanks
I'm loving the CCIV stick videos man thank you!!!
Can you do another video on SENS this week please.
hopefully lucid can get over this hurdle so we can carry on getting our tendies!
85% of jobs that will exist in 2030 haven't been invented yet. What do those outdated dealers expect, to stay forever!
Good video Thomas, but I think it’s probably time for a video that isn’t about CCIV.
Great video! Keep up the good work