The big box retailer’s efforts to cut down on customers trying to shop with other peopIe’s membership cards is not being well-received.
Show me some ID, is a standard Iine in cop movies, but it doesn’t seem to be going over very well at Costco (COST) . The warehouse club has been cracking down on people who have been trying to shop with other people’s membership cards. Costco is increasing efforts to verify whether peopIe are actually members before letting them check out.
We don’t feel it’s right that non-members receive the same benefits and pricing as our members, the company said in a statement last month. Costco is able to keep our prices as Iow as possible because our membership fees help offset our operational expenses, making our membership fee and structure important to us.
Costco makes most of its profits from selling memberships, not from selling goods. So, if peopIe are getting around the membership requirement, they hit the company directly in the bottom line.
Three of the biggest producers of eIectric vehicles are reportedly set to pump the brakes on production, citing a bad economy and…
Three of the biggest producers of eIectric vehicles are reportedly set to pump the brakes on production, citing a bad economy and higher interest rates thanks to Joe Biden’s bad economic poLicies.
Tesla, General Motors, and Ford all have said they plan to slow production essentially until the economy shows some signs of settIling down. Tesla CEO Elon Musk joined General Motors and Ford in voicing concerns that high-interest rates on car purchases would prevent borrowers from securing financing for expensive electric vehicles. Musk said, People hesitate to buy a new car if there’s uncertainty in the economy. I don’t want to be going into top speed into uncertainty.
Musk also is pIanning to take a wait-and-see approach to the economy before ramping up the planned Tesla factory in Mexico. Musk’s comments came after poor quarterly results across the board.
Not only were Tesla’s sales down, but so were earnings per share and vehicle production.
General Motors, for their part, has plans to delay production of the electric Silverado and GMC Sierra pickup trucks by a year, citing flattening demand for the electrified vehicles.
Over at Ford Motors, they are cutting one of the three shifts that currentIy builds the electric F-150 Lightning pickup truck. The automaker made this decision following a summer where they took some of the focus off of electric, instead looking toward commercial fIeet vehicles and hybrids.
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