Inventory levels are how many cars a dealership has to sell. If they have a lot of cars, it might mean they're not selling as many, which could lead to lower prices for buyers.
Destination charges are extra fees that car buyers pay to cover the cost of getting the car from the factory to the dealership. It’s like a shipping fee for your car.
The supply and demand dynamic is how the number of cars available for sale compares to how many people want to buy them. If there are more cars than buyers, prices can go down.
A buyer's market is when there are more cars available than people wanting to buy them. This usually means prices go down, making it a good time to buy a car.
EV sales are the number of electric cars sold. If fewer people are buying electric cars, it can mean changes in what people want or how much they cost.
An EV, or electric vehicle, is a car that runs on electricity instead of gasoline. This means it produces no tailpipe emissions, making it better for the environment.
Electric vehicles are cars that run on electricity instead of gasoline. They are better for the environment because they don't produce harmful emissions like traditional cars do.
The Ram 2500 is a bigger truck than the Ram 1500, made for heavy jobs like towing trailers or carrying heavy loads. It's a popular choice for people who need a tough truck.
The Ram 1500 is a big truck that you can use for carrying heavy loads or towing things like trailers. It's also designed to be comfortable and nice inside, which makes it good for everyday driving too.
This is a car dealership that sells vehicles from several brands, including Chrysler, Dodge, Jeep, and Ram. They offer a variety of cars and trucks.
Car
2025 Laramie
The Laramie is a version of the Ram truck that comes with nicer features and comforts. It's designed to make driving more enjoyable with better materials and technology.
The Dodge Ram is a tough truck that people use for work and play. It's known for being reliable and having a lot of options, so you can find one that fits your needs.
The Mazda CX-90 is a family-friendly SUV that drives more like a car, making it fun to handle. It has a nice look and comes with modern features to keep you and your passengers comfortable.
Wholesale values are the prices that dealerships pay for cars when they buy them from auctions or other dealers. These prices can change quickly based on how many cars are available.
The Jeep Grand Wagoneer is a fancy SUV that can handle rough roads and off-road adventures while also being very comfortable and packed with cool features. It's designed for families or anyone who wants a stylish vehicle that can do a bit of everything.
The used car market is where people buy and sell cars that have been owned before. Prices can change a lot depending on how popular the cars are and their condition.
Stellantis is a big car company that makes several brands of vehicles, like Jeep and Dodge. It was created when two companies combined to form a larger company.
Finance and insurance is the part of a car dealership that helps you get a loan to buy a car and offers insurance options to protect your vehicle. They help you figure out how to pay for your new car.
A market reset is when the car market changes a lot, like prices going down or fewer people wanting to buy cars. It can happen because of the economy or other big changes in how people shop for cars.
Dealer add-ons are extra things that the dealership might try to sell you when you buy a car. They can be things like special coatings or warranties that cost more money.
Dealer markup is the extra money that a car dealership adds to the price of a car. This can happen when a car is popular or hard to find, making it more expensive than the original price suggested by the manufacturer.
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Now, Dad, the big story this morning
is that all of the latest and greatest data shows
that car sales for new vehicles in particular
crashed in the month of October.
Now, October hasn't ended yet, so give it a moment here.
But we are expecting to see a seasonally adjusted sales rate
of 15.7 million vehicles based on October sales,
which is down significantly.
We had seen this number as high as $18-19 million earlier this year.
Let's level set here, Pops.
Why should anyone that tunes into a show on YouTube
called Car Sales Crash in October care
about the fact that dealers are selling fewer cars?
Why does that matter?
Well, hopefully, the reason it will matter
is because their inventory levels will build up.
We know, I think, we started the month of October
at 2.87 million new vehicles,
either on dealer lots or incoming this month.
Typically, before the pandemic,
that number was about 3.5 million.
So we were getting close to what was normal
for inventory levels prior to the pandemic a few years ago.
And what we know when inventory levels are high
is that incentives are usually high as well
in order to help assist the dealers in selling those cars.
I would say, if I remember correctly,
that incentives amounted to almost 12% of the transaction price
in those olden days.
And today, it's about 7%.
So I would think if sales slowed down and inventories build,
we should see or would hope to see manufacturers increase
their incentives along with their destination charges.
But, Dad, I would say it's partly incentives,
but it's also dealer discounts.
I really don't want to lose sight of that.
You've got a slowing sales rate with an increase in inventory.
So those are the two components of our supply and demand dynamic.
Supply side is how many cars are being produced.
Demand side is how many consumers are buying them.
The big news this morning is that sales pace is expected to slow significantly
to the tune of 3 million plus vehicles annually.
That impacts not only incentives from the manufacturer level,
but, Dad, especially I'm thinking about used cars right now.
There aren't incentives from the manufacturer,
typically on used cars.
There's negotiability.
And we've seen used car inventory pile up
we have not seen so far this year.
So I think there's a huge story here with regards to just general buyer's market.
We continue to get signs day in and day out.
Today's data is another indication that we have a buyer's market at play.
And that means good news for our viewers because if car sales crash on October,
it means there's more desperation in the air as we head into November and December.
The big story, though, in that decline of sales is that EV sales are expected
to decline 43% year over year for October.
Now, did we anticipate that with the federal incentives going away September 30th?
Yes, we did.
Did we expect EV sales to drop from a market of 8% to 5.7%?
That's a pretty significant decline.
Yes, we lost the federal incentives.
We seem to have also lost the desire of the vast majority of the public
to even consider an EV at this point.
So that's contributing to the slow down as well.
Yeah, but I want to restate here, Dad.
EVs make up a very small percentage of overall sales every single month,
less than 10% of vehicles sold are electric vehicles.
So while we've seen a huge decline there,
the declines have been all throughout the auto industry.
And I think it's important because most people that tune in here
and most people that are interested in a car are not interested in an electric vehicle.
And sure, we've seen manufacturers write off billions of dollars in losses there.
However, this is more broad.
This is more foundational, I think, for the auto industry.
It's yet another data point that demonstrates that things are slowing down.
And Dad, I think that's ultimately, like we keep talking about,
going to have an impact on negotiability.
So it doesn't matter if you're in the market for an electric vehicle
or an internal combustion engine vehicle,
you have more leverage today than you did yesterday.
You can see here Igor in the chat saying deals in October are way stronger already
with higher discounts reflecting what we're talking about here.
And let's come to Eric here, Pops asking,
do you wait to buy that new RAM?
Do you do it today or do you wait for it at the end of December?
This is an interesting conversation because as sales crash,
the market dynamics change, do you do it now or do you wait till the end of the year?
You know, I will restate something I said last week.
And that is, if you find a vehicle either new or used at a price
that you find acceptable today, then just buy the damn thing rather than waiting,
hoping perhaps maybe you save another two, three, four hundred dollars by waiting
60 more days when you very well might not save that money.
I mean, we know that all the pull ahead sales that happened earlier this year
with the advent of the tariffs and all the EV pull ahead sales that happened in August and
September, we knew at some point there was going to be a slowdown in sales in the fourth quarter.
You can't pull ahead to all those people and then suddenly replace those people with new people
because there's no new people to replace them with.
So we knew this was going to happen.
And you know, one other source I saw today thinks the seasonably adjusted sales rate
for October will be 15.1 million vehicles, not 15.7.
So it's happening.
The slowdown is happening.
It's happening.
Like there's undeniable evidence.
Yes.
It is happening.
The market, we are every day we tune in, every day you tune in and we talk about the shift is
happening right now.
Let's go to the car edge machine.
Let's go to caredge.com slash shop.
And let's look just at Rams for a quick second here to get a quick temperature check
on what market conditions are for this vehicle.
This is one of my favorite things to do on the show.
We did it yesterday with Volkswagen who's facing an 11 billion with a B,
$11 billion cash shortfall headed into next year.
And we did some local analysis of Volkswagen yesterday.
And no wonder they're facing a cash shortfall.
Their vehicles aren't selling.
We had Eric asking about a Ram dead.
The first thing I noticed when I just go to car edge, I search for Ram and I look at new vehicles
is we've got 2026s and 2025s.
There are probably also 2024 Ram 15 and 2500s for sale nationwide right now.
So if you're a real deal hunter, you could look for a new 2024 as we're about to head into 2026.
But dad, let's, I don't know, which one do you want to click on, the 2025 or the 2026?
Click on the 2025 because you would think that would be the one that would have the most incentive.
Okay. So let's do some analysis here folks.
This is in Chula Vista, California.
You can leave some suggestions for zip codes or locations in the chat.
And we'll do some more analysis today to see if those market conditions really are evolving
like we think.
This is a Ram 2020, 2025 Ram 1500 pickup, a big horn loan star, $58,985 MSRP.
Man, these things are expensive.
Dealer invoice cost on this is almost $56,000.
So a decent amount of profit built into that at a target discount.
This is just the dealer discount.
Not what you should be getting an additional incentives is anywhere from $2,200 to $3,700.
The thing I want to look at here, we'll go past the buyer's guide,
go past the window sticker, 75 days supply.
That's actually pretty low dad.
It makes sense because I think we'll go back and click on the 2026 in a moment here.
Only 21 of these vehicles for sale from local dealers within 100 miles.
There's 21 have sold in the last 45 days, excuse me, with 35 for sale.
Now this one's been sitting for 76 days and the dealer's been, I don't know,
playing around with the pricing.
Holy cow, what are they doing here?
Absolute lunacy when it comes to the price history.
Let's go all the way down though and let's take a peek at the incentives.
Wait for it, wait for it.
Oh, I don't see any incentives on this particular vehicle.
So we'll have to double check what's going on there.
But I'm not too surprised actually, dad,
to see relatively low market-based supply because it is one of those 2025s.
Yes, and you would think at least a normal dealer would be highly motivated to sell the 2025
and use that as the leverage as opposed to having to discount that 2026
that might be sitting next to it where you would say to the customer,
hey, if you're looking for a deal, the deals are on any remaining new 2024s and 2025s.
The 2026 is just hit.
I've got a year to figure out how to sell those.
So now let's take a peek at that 2026.
Now this is a 2,500 out of 1,500, but whatever.
Let's look just for illustrative purposes.
More expensive, $73,000.
Dealer costs $69,000.
Drumroll, no data.
Interesting.
Okay, so we don't have enough data on this particular vehicle.
That probably just came out.
Let's see though.
Let me see if I can find a different one.
That's another 2,500.
Another 2,500.
Let me click on this one.
Let's see if we have any.
90 grand, geez.
No, what a bummer.
We don't have any data on the 25s yet.
I guess maybe it is too recent.
Let's try 1,500s though.
I'll be curious.
We should have some data on the 1,500s.
Drumroll, please.
No data.
Interesting.
All right.
Let me try a different zip code quickly.
Try yours.
I'm just going to Arizona.
You know me.
I always like to go there.
Arizona is such a lovely place to be born and raised for the first VP.
There we go.
I jumped over to Arizona and there you go.
This is your point.
The 2026, as this is now we're looking at a 2026,
as a 2,610 days supply, one has sold the last 45 days,
yet dealers have 58 on their lot.
So to your point, Dad.
Yes.
These dealerships are trying their hardest.
Let's use Eric's zip code 40014.
So let's go there really quickly.
40014, 40014.
We're in Crestwood, Kentucky.
I've never been to Crestwood, but I'm going to assume
since Eric in that area, it's a lovely area.
Yeah.
This is the most insane data I've ever seen.
Oh my God.
This is 2026 Ram 1500 pickup, a Laramie.
Yes.
Dealers within 100 miles of Eric.
So this is Eric.
We're helping out community member Eric right here.
Dealers within 100 miles of Eric right now have 2,087 of this year make model and trim for sale.
Excuse me.
That's within 500 miles, within 500 miles.
Yet those same exact dealers over the past 45 days have only sold four.
They have over 2,000 for sale and they've sold four.
No wonder, Dad, they're giving bigger discounts on the 25s.
They're trying to get rid of their prior model year inventory.
And that's because the 26 model year inventory is relatively young.
Yes, Steve's comment here is your days on market data is invalid when the 26 models
weren't even available for sale 40 or 30 or 20 days ago.
I think it's a great comment, Steve.
I would also say that this is the reality for these dealerships.
The reality is they get batches of inventory.
I mean, let's look at this same dealership.
So this is Glen Chrysler Dodge Jeep Ram.
And yes, they've had this one.
What does it say for 10 days?
So very well, let's find a 2025 at that same dealership.
So I'll come here and I'll go to the year filter 2025 and that was Glen Chrysler.
Okay, so this is the same one, but let's find if they've got a Laramie.
These are all trades with a tungsten.
Dad, oh my God, a $92,000 one.
So it's interesting, Dad, actually at Glen Chrysler Dodge Jeep Ram,
they don't even have a 2025 Laramie.
Yeah.
You see that they only have tradesmen or this one Bighorn.
So I'll click on the one Bighorn.
74 days supply.
So this dealership, I'm going to sit on this for a second.
At this dealership has only four 2025 Ram 1500s for sale, yet they have an insane
oversupply of 2026s already.
That's crazy.
Well, a 64 year supply of Ram 1500s.
Yeah, but that's an anomaly.
I know, of course.
Really a 64 year supply.
But that means that they will be turning their attention to the 2026s.
Those will be the only trucks they have to sell.
They'll be turning their attention to the 2026s.
They realize that they don't make anything if they don't sell anything.
So they'll do what it takes to sell those 2026s moving forward,
especially if they've got a 64 year supply in that area.
Can we also take a second, Deb?
So there's not that many.
There are 249, 2024, 2025 Ram 1500 pickup trucks for sale within Eric's area.
One of those is a $92,000 one.
This is just the most basacquardness of, you know, this is just absolutely crazy.
So you can see space here.
Sometimes with Ram, you can actually get better pricing on the brand new ones
than the old stock ones because they have so many of the brand new ones.
But Deb, just like a $92,000 pickup truck.
This is like, this is the epitome of that craziness of just jack up prices.
I think tungsten is supposed to be pretty hard, isn't it?
But I just, for the life of me, why does anybody need a $92,000 pickup truck?
I mean, what does that $92,000 pickup truck do that those $52,000 pickup trucks don't do?
I guess, is the ride a little better?
Is the interior a little nicer?
Is it $40,000 at nicer?
Is it the Rolls Royce or Bentley of Ram pickup trucks?
It is just, you know, I look at some of those prices and it just makes me wonder
what the hell the big shots at Stalantis were thinking.
Well, and then when you really think about it, you realize that many of those who were thinking
that, well, a $92,000 tungsten pickup truck is something we need.
Well, those people are no longer with the company because they've been replaced with
different people who realize that maybe $92,000 pickups is not what they need.
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The Harlem Globetrotters 100-Year Tour.
Celebrate 100 years of high-flying dunks, 100 years of showstopping moves,
and 100 years of changing the game.
Bring the whole family and be part of the legacy.
This game is once in a century.
Be there at American Airlines Center on February 15th.
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Hey, more power to people who buy those products and enjoy those products.
That being said, I think that exemplifies some of the, to quote a famous economist,
irrational exuberance of what was going on in the car market.
And now, to come full circle here, again, the leading indicators show
that we've got a slowdown of vehicle sales in the United States.
That comes from Cox Automotive at the same exact time, the same exact breath.
Inventory levels are the highest they've been this year,
both in terms of new vehicles and used vehicles.
You pair those two things together, you pair it around, you add the trifecta,
which is we are in the fourth quarter, folks.
This is when the manufacturers and when the dealers feel the most pressure.
We're at the end of October.
We're seeing insane deals right now, dad, at the end of October.
If I may, just for a second here, I want to give a shout out to our team.
You go to caredge.com, click on that car buying service.
If you scroll on down here, you can actually see the recent deals
that our teams have been able to complete on behalf of our community members.
You can see the specific deals that folks are getting.
Look at these savings numbers.
They're not small, folks.
I mean, we're talking about on a Honda, $4,700 in savings.
So I encourage everyone to come here and spend some time.
Holy crap, crap, that on a CX-90.
On a Mazda CX-90 between dealer discount and manufacturing,
since it's $12,000 off, we are finally in the throes of a true buyer's market.
And I encourage everyone to use that leverage when they navigate their car buying process.
This has shifted materially and that trifecta, supply, demand, and timing,
has set up for a really interesting end of the year for those that have been waiting patiently
to make a smart move.
Yes.
No, absolutely.
And I said it earlier in the show, every pundit, every pronosticator has said
that the fourth quarter, we are going to see a significant slowdown in sales.
Why?
Because there was a huge pull ahead in March, April, and May for regular vehicles.
There was a huge pull ahead for EVs in July, August, and September.
And so everybody anticipated with high prices, high MSRPs, because we know that the average MSRP
today on cars sold now exceeds $50,000, that it has become unaffordable for many, many people.
So the market is correcting itself based on high prices, high interest rates, and well,
not quite the same desire of buyers that we had seen earlier in the year.
So we knew it was common.
And it is happening on the used car side as well.
You can see here from Igor, happening on the wholesale side, wholesale dealer auctions
for used cars.
We've got vehicles selling below their Mannheim market report, which is kind of the
parameter for what a vehicle should be worth on the wholesale market, which is an important
dynamic within all of this, which is your trade-in, folks, is going to be worth less
at the end of this year than it is worth today.
So if you are thinking about making a move, it is its own trifecta for a car deal.
It's the out-the-door price on the vehicle you're buying, the vehicle that you're selling,
getting the most for that, and you're financing.
And so it is three legs to this stool.
And right now, your trade-in is probably worth more than it's going to be in the next six weeks,
because we are seeing wholesale values decline.
So be smart, be pragmatic, take advantage of this moment in time to make sure that you're
maximizing your savings of the overall transaction, not just one piece of it.
The blackbook data for used vehicles on the wholesale level, the amount of change we're
seeing week over week compared to the same time historically, is significantly higher
depreciation the past couple weeks than what we had seen in the past.
So yeah, things are changing rapidly as new car sales slow used car values are going to go down
to a certain degree.
Now, have we or will we see the price corrections on used cars that we had hoped for after that
huge buildup in pricing during the pandemic?
I mean, we have seen a significant drop in the values, but it is still significantly higher
than where they had been historically prior to that.
Do I think we'll get back to that?
I don't see that happening in the future, but I do think that we could see some
additional normalization in used vehicle pricing moving forward, especially towards the end of
the year.
Definitely. One more shout out for our team of experts that are partnering with
all of our car edge concierge program customers.
I mean, just look at some of this, Dad.
Honda Passport, almost six grand off of MSRP.
We're talking about Ram earlier down in Florida.
Joe helping a customer get $10,500 off one of the heavy duty ones.
You should go back on the website, folks, and learn more about the deals that we're able to
secure on behalf of our customers.
So much good stuff going on right now.
It is certainly a buyer's market.
We will continue to ring that bell and I'm excited to finally have some good news to bring
to the table instead of all the bad doom and gloom from Rich here.
Really appreciate the kind contribution, Rich.
Rich.
Boomer just Ray.
I don't think we're in Kansas anymore.
I don't get it.
David, Dad can explain this to you.
Oh, come on.
That's a, what was the, oh, I forget the name of the movie with the wizard.
No, the Wizard of Oz.
The Wizard of Oz.
Yeah, yeah, come on.
Oh, is that from that movie?
Yes, yes.
We're not in Kansas anymore.
Yeah, no, no, we're not.
You know, I don't know where we are, but we're not in Kansas anymore.
But things are still elevated, but hopefully, hopefully, we will continue to see this return
to normalcy to a certain degree.
I can't sit here and think that we will see the type of crash in prices that a lot of people
would want to see based on the comments that we see on a daily basis.
Well, let me know when they go down 40 or 50%.
Well, if they go down 40 or 50%, it's only because the world has gone to hell on a hand
basket and I don't know how to break it to you.
If they go down 40 to 50%, it's because nobody has any money anymore.
But Dad, I want to throw a big wave of caution when we do these broad strokes comments.
Vehicles like the Jeep Grand Wagoneer, who the manufacturer model year over model year have
decreased the MSRP by over 20%, those are vehicles that you will see their prices,
especially on the used car market or lingering new vehicles that are not of the future model year.
Those prices will drop 30, 40%.
So generally speaking, do not anticipate car prices are going to fall in half.
Definitely not.
And everything is make and model specific.
That's why we've spent so much time building all the resources
that are make and model and location specific.
Because what's happening in Bismarck North Dakota will be very different than what's
happening in Miami and Dade County, Florida.
But there are definitely some outliers here.
And you can see some vehicles like the Jeep Grand Wagoneer.
That will have these absolutely absurd price decreases year over year.
Yeah, but that's only because Stalantis.
It's an anomaly, but I think it's important to call out that like,
we have seen some like legit.
My point was, if I need to defend my point for a moment that we're expecting the market as a whole
to crash 40 to 50% in MSRP's, if that were to happen across the board,
it wouldn't matter because none of us would have any money anymore.
Okay, that would be the only reason you would see prices go down like that.
The vast majority of us, you know, if you had $10,000,
suddenly that $10,000 has worked $10.
Okay, Argentina, ladies and gentlemen.
So that was my point.
Let's look at one more piece of data.
We've referenced this chart quite a few times recently.
And this will be the final comment around the car sales crash of October 2025.
This is your average car dealership profit per vehicle sold.
New cars in white, used cars in blue, dark blue, finance and insurance.
So folks, that's when you get your financing through a dealership.
That's when they say the extended warranty, all that fun stuff in the light blue.
And the chart tells a very clear story.
Profit per vehicle sold is down.
And so again, as we look at all of the data, we are in the midst of a market reset.
We are in the midst of a power dynamic reset where the power really lies in the hands of consumers.
And the more knowledgeable you are, the more informed you are, the more empowered you are,
the better deal you will be able to secure.
And so I think it's worth pulling up this chart in conjunction with everything else
we've talked about today to continue to reinforce how things have shifted and changed
in the car.
And I will repeat what I said yesterday.
Even in the worst of times, as the customer, you've always had the leverage.
And that leverage is in that two letter word, no.
If a salesperson has invested time with you at a dealership, okay,
and they've invested an hour, an hour and a half, two hours, two and a half hours,
whatever it is, they don't want you to leave until you can figure out how to make a car deal
because they can't get that time back and apply it to a different deal.
So just remember, even when it seems like you don't have any leverage,
the two letter word no gives you the leverage.
They can't sell anything if you don't buy anything.
But I want to be very clear.
I'm going to be the caveat, the devil and the angel here.
If you're in the market for a Lexus GX550, for example, you don't have leverage, folks.
You do not.
Your leverage can be if the dealership's saying, hey, the price is MSRP plus $10,000 in dealer
add-ons.
Yes, you absolutely have leverage.
But look at the difference when we click into this particular vehicle.
MSRP is $86,367.
Dealer makes a boatload of money when they sell it at MSRP.
There's a 28 days supply and that's likely overstated because many of these are pre-sold
before they even hit the dealers lot.
So you can say no.
You absolutely can't say no, but you need to know what the barometer is for success.
You say no on a Lexus GX550 deal when the dealer says it's MSRP plus 10 grand.
You say no when it's MSRP plus 5 grand.
You say no when it's MSRP plus 2 grand.
You say yes when it's MSRP.
And so I think that's what's so important in all of this and what I'm so proud of that
is that we have made information that helps people have realistic expectations for what
they should pay to buy a newer used car better than ever before.
You can leverage and know when to say no or obviously use our car buying service, use our
agent.
We know when to say no.
We can do it on your behalf.
It's good stuff, baby.
The key is realistic expectations.
I can't tell you how many times I would deal with a customer that had unrealistic expectations.
I remember one customer telling me that I had to sell the car at the price he wanted to pay for
because, well, he's the customer and the customer is always right.
I said until this very moment, yes.
Dad, let's come here to the chat from Seaboot Brew.
Thank you.
Appreciate the kind contribution.
I am planning buying a new vehicle in December.
What is the concierge service cost?
I feel so bad.
We redesigned this page and we took the damn price off of it.
So that's on me.
We'll get that updated.
Typically, it's a $999 one-time charge.
It's $300 off.
So it's $699 average customer savings of 2,200 bucks.
Feeling really good about that.
We've helped over 10,000 people with this service.
Again, learn more about it.
You can book a free consultation call with our team as well.
Then you can meet the folks behind the scenes that actually work on all of this.
So please take advantage of that and see Brew.
If you end up signing up, let us know.
We'll donate back the five buckaroos.
We appreciate your interest and support.
Dad, why don't we call the show for today?
We'll be back tomorrow with more.
You have to know, not until you mention.
So go ahead.
Car Edge.
This is my LinkedIn.
If you're not following me over on LinkedIn, I'd appreciate it if you do
so that we can instill FOMO in the auto industry.
Dad, our team, we were cited in The Economist.
And what got me so excited about this is the title of the article
was the end of the ripoff economy.
And in an article titled, The End of the Ripoff Economy,
they're talking about how Car Edge is helping to get better prices for vehicles,
referencing our AI.
But in general, we've been doing this for six years.
Car Edge is on a crusade to end the ripoff economy.
I could not be more proud of this.
I think The Economist is one of the most prestigious publications out there.
So a tremendous moment for you and me.
And of course, for the more broadly for our team and our company.
What an awesome moment this morning.
Yes, that was wonderful to see.
And fully organic, you know,
just woke up and got an alert that Car Edge was in The Economist.
That's one of those humbling feelings.
It is.
This must be similar to the early 1900s when cars were first really starting to take off in America.
But prior to that, everybody had horses and much like horse poop, which was everywhere.
Apparently, we are like horse poop in the early 1900s,
because we are everywhere these days in the media.
We have been found and discovered, and it will only increase our reach
and bring about the changes in retail automotive that are necessary at a much quicker pace.
And let's be very clear, Dad, it is all thanks to who?
All of our followers out there and all of our customers out there.
None of this happens if it's just me and my dad in an echo chamber for six years talking to each other.
You know, if these weren't live streams and these were just phone calls, none of this happens.
So the fact that people tune in, the fact that people support our mission,
the fact that people support us as individuals,
I think that we've been chosen as the righteous leaders to try and bring transparency and to
end the ripoff economy and what a privilege to be able to do it.
So thank you to everyone who supports us, who shares our materials,
who continues to bring awareness to the car edge brand and to Ray and Zach Shefska.
We are humble stewards of this mission to try and make things better.
Humbly grateful.
Absolutely.
All right, Pops, let's do it all again tomorrow.
I will comment.
Tomorrow.
What's tomorrow?
It's Wednesday.
Wednesday, October.
I think I'm available, yes.
I will comment.
I'm going to put you full screen for a second here.
If you were not wearing your turquoise undershirt,
I think you would blend into your blinds today.
Yeah, maybe, yeah, yeah.
I guess your shirt's a little more green than the blinds.
Well, you know, on the computer, it looks turquoise.
Your shirt or your overshort or your undershirt?
My t-shirt looks turquoise.
My t-shirt definitely looks turquoise.
My shirt looks green.
Yeah, I thought it was a little more beige-y.
No, the colors are not represented well on my computer screen.
I will just say.
You look good, though.
I want to just be clear.
You look good.
Well, thank you, you know, for...
I have a haircut, too, Dad.
You want to make any comments about my haircut?
I didn't even notice.
Oh, my goodness.
Those, I think, are the best kind of haircuts
when you can't even notice that you've got a haircut.
So it was your two women that did your hair?
Yep, the hair shop here in DC.
It's two sisters.
Fantastic.
They do a great job.
Anyway, okay, we're back tomorrow, folks.
I love you, Dad.
I love you, too, handsome.
Have a great day.
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About this episode
October saw a significant decline in new vehicle sales, with projections suggesting a seasonally adjusted rate of just 15.7 million units, down from 18-19 million earlier this year. The hosts discuss how this slowdown could lead to increased inventory and better deals for buyers, particularly as EV sales plummet by 43% year-over-year. They emphasize the importance of leveraging this buyer's market, highlighting the potential for greater discounts and incentives as dealerships face mounting pressure to sell. The episode also touches on the implications for used car values and the overall market dynamics.
Today on CarEdge Live, Ray and Zach discuss the latest info on October car sales. Tune in to learn more! Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com
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