“Second, rising inflation and component costs, coupled with the expanded lead time needed to order parts, has significantly altered the risk reward of continuing to lean into further product development,” the executive added. “First, we tested a number of price points and we frankly haven’t seen the volume at the higher prices that would make the current product financially viable,” Vogel said, speaking last week. Open the Spotify app, and tap the Settings gear icon in the top right corner. “First, we tested a number of price points and we frankly haven’t seen the volume at the higher prices that would make the current product financially viable” If you do manage to get your hands on a free Car Thing, heres how to set it up on the Spotify mobile app: 1. The move weighed on the group’s reported gross margin for the second quarter, the company said, after incurring a one-time charge of $31 million.ĭuring last week’s earnings call, Spotify Chief Financial Officer Paul Vogel said the company’s decision to discontinue Car Thing was due to a few factors including pricing, inflationary pressures and supply chain difficulties. The company disclosed its decision to discontinue Car Thing in its most recent ( Q2 2022) earnings report on July 27. The discount could mean that the device wasn’t selling out as fast as the company had hoped. This week the company shares its Q2 2022 financials, and in doing so, breaks the news about Car Thing's demise. The device is a small-screen Bluetooth-enabled device. The device is designed for those with older cars with no Bluetooth. Spotify recently slashed the price of the product by 44% to $49.99, according to its dedicated microsite for the product. Spotify initially launched the Car Thing as a tester exclusive, and the device went up for public sale in February 2022. Car Thing From Spotify is now available in the U.S. premium subscriber who wants to buy one for 89.99. Car Thing was ideal for vehicles that don’t have Apple CarPlay or Android Auto installed, although it still required a connection to users’ Spotify app on their smartphones. Following years of planing and testing, the company’s whimsically-named Car Thing is now available to any U.S. Spotifys oddly named in-car entertainment system, 'Car Thing,' is now available to the general public after initial tests that began in 2019.The now 89.
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