CARFAX SHOCKS THE AUTO INDUSTRY | Episode 986
About this episode
A recent report from CarFax reveals a shocking 14% year-over-year increase in odometer rollback fraud, with over 2.45 million vehicles affected. The hosts discuss the implications of this fraud, particularly how it can lead buyers to pay more for cars with higher mileage than advertised. They also delve into the reasons behind this rise, including negative equity and the prevalence of digital odometers. Additionally, the episode touches on market share trends among automakers and a significant number of recalls from Ford, raising concerns about vehicle reliability.
General Motors
"You can see here, dad market share your over your change of market shares, the yellow line on this chart general Motors market share increased"
General Motors is a big car company from the U.S. that makes cars like Chevrolet and Buick.
General Motors (GM) is an American multinational corporation that designs, manufactures, markets, and distributes vehicles and vehicle parts.
Hyundai
"You can see here, dad market share your over your change of market shares, the yellow line on this chart general Motors market share increased Toyota market share increased board market share increased Hyundai market share increased"
Hyundai is a Korean car company that makes cars like the Elantra.
Hyundai is a South Korean automaker that offers affordable, well‑equipped cars such as the Elantra and Sonata.
BMW
"You can see here, dad market share your over your change of market shares, the yellow line on this chart general Motors market share increased Toyota market share increased board market share increased Hyundai market share increased and BMW down here their market share increased"
BMW is a German car company that makes luxury cars like the 3‑Series.
BMW is a German luxury automaker known for sporty driving dynamics and high‑quality interiors.
Toyota
"You can see here, dad market share your over your change of market shares, the yellow line on this chart general Motors market share increased Toyota market share increased"
Toyota is a Japanese car company that makes popular cars like the Corolla.
Toyota is a Japanese automaker known for reliable, fuel‑efficient vehicles such as the Corolla and Camry.
Volkswagen
"look at Stalantis and Volkswagen. They're struggling mightily"
Volkswagen is a German car company that makes cars like the Golf.
Volkswagen is a German automaker known for cars like the Golf and Passat, emphasizing practicality and engineering.
Ford
"Ford is at least admitting there's a problem and they're taking care of it where there's other manufacturers that don't want to admit that they have a problem or take care of it but Ford has had"
Ford is a U.S. car company that makes trucks like the F‑150.
Ford is an American automaker famous for trucks like the F‑Series and cars such as the Mustang.
recalls
"I don't know we haven't checked recently but I think the last time we checked it was 138 recalls for the we're going to we're going to do a check today and it has gone up so stay tuned for that."
A recall means the car company says some cars have a problem and they will fix it for free.
A recall is a manufacturer‑initiated action to repair or replace defective parts in vehicles that could affect safety or performance.
blower motor
"If you're an HVAC technician and a call comes in Granger knows that you need a partner that helps you find the right product fast and hassle free. And you know that when the first problem of the day is a clanking blower motor there's no need to break a sweat."
In a car’s climate control system, the blower motor is the part that moves air so you can feel warm or cool inside the car.
The blower motor is an electric motor that pushes air through a vehicle’s heating, ventilation, and air‑conditioning (HVAC) system.
parking function
"[1107.5s] And the issue to be clear here is the parking function that could cause the car to roll away."
Parking function is the system that helps stop your car from moving when you park it on a hill.
The parking function refers to the vehicle’s automatic braking or holding system that keeps it from rolling when parked on a slope.
rollaway
"[1114.0s] Well in the case of the lightning that could possibly be the best thing that ever happened."
Rollaway means the car starts moving on its own when it’s supposed to be stopped, like on a hill.
Rollaway is when a vehicle unintentionally moves or rolls while parked, often due to a malfunctioning parking brake or related system.
Depreciation of electric vehicles
"Provided you have gap for those of you that want some more context for my dad is saying that is because the F-150 lightning and electric vehicles in general depreciate rapidly."
EVs can lose a lot of their price quickly, especially when newer models come out. This means if you buy one and then sell it later, you might get back less money than you paid.
Electric vehicles (EVs) often lose value faster than comparable gasoline cars, especially when new models are released or battery technology improves. This rapid depreciation can leave owners owing more on their loans than the car’s market value.
Vehicle recall for high-speed part failure
"there was another one where at high speeds parts could come up a vehicle so this has been you know it's been fun speed I mean is it like 100 miles an hour 120 miles an hour 200 miles an hour where is it like I don't know 60 65 miles an hour."
Sometimes car makers have to tell owners to fix or replace parts because they might break when the car goes fast. This is called a recall.
A recall is a safety action taken by manufacturers to fix or replace parts that could fail under certain conditions, such as high speeds. The mentioned recall involves parts potentially coming loose when the vehicle reaches high velocities.
Mazda 3 hatchback
"...a Mazda three hatchback which is if I'm not mistaken relatively inexpensive to begin with."
It’s a small, practical car that comes with a rear door that opens upward, giving you extra cargo space.
The Mazda 3 hatchback is a compact car produced by the Japanese automaker Mazda, known for its sporty handling and efficient engines.
VIN search
"...VIN search so anytime you find a vehicle regardless of where it is on the interwebs"
You can enter the car’s unique 17‑character code to find out its specs, history, and pricing details.
A VIN search lets you look up detailed information about a vehicle using its Vehicle Identification Number.
invoice cost
"...invoice cost on this vehicle thirty two thousand dollars"
It’s the price the dealer actually paid for the car from the manufacturer.
Invoice cost is the amount a dealer pays to the manufacturer for the vehicle, often used as a baseline for negotiations.
O.T.D.
"Tons of people over there too from it braiden we've got a vine here what is a great O.T.D. price for this vehicle"
O.T.D. means "out‑the‑door" price – the full amount you pay, including taxes and fees, to get the car out of the dealership. It’s what you actually spend when buying a car.
O.T.D. stands for "out‑the‑door" price, which includes the vehicle’s base cost plus taxes, fees, and any additional options or accessories. It represents the total amount a buyer pays to take the car home.
5-year/60,000-mile warranty
"So twenty you know in a warranty a five year sixty thousand mile warranty is that from the date you buy it or is"
A 5‑year/60,000‑mile warranty means the manufacturer will fix any factory problems for five years or until you hit 60,000 miles, whichever comes first. It’s a basic protection plan for new cars.
A 5‑year or 60,000‑mile warranty covers repairs for manufacturer defects within that period. It’s a standard new‑vehicle warranty, but its value depends on the car’s condition and mileage.
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