{"version":"1.0.0","episode":{"title":"EDMUNDS Just Put the Entire Auto Industry On ALERT | Episode 1045","url":"http://getcarcurious.com/episodes/edmunds-just-put-the-entire-auto-industry-on-alert-episode-1045","audioUrl":"https://pdrl.fm/3359a6/pscrb.fm/rss/p/mgln.ai/e/1385/injector.simplecastaudio.com/14b42e71-1f9c-41b2-944f-bc8f2b3a3cb9/episodes/f7ed3538-f492-4ffc-8a80-447de07d26ff/audio/128/default.mp3?aid=rss_feed&awCollectionId=14b42e71-1f9c-41b2-944f-bc8f2b3a3cb9&awEpisodeId=f7ed3538-f492-4ffc-8a80-447de07d26ff&feed=gkrQ6WSC","description":"Today on CarEdge Live, Ray and Zach discuss the latest data from Edmunds. Tune in to learn more! Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com\nfor information about our collection and use of personal data for\nadvertising.\n"},"annotations":[{"startTime":117.7,"endTime":123.8,"type":"term","title":"depreciates per year, per mile","url":"/glossary/depreciates-per-year-per-mile","quote":"how much it depreciates per year, per mile, and other vehicles...","canonicalId":"term:depreciates-per-year-per-mile","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"“Per year” and “per mile” depreciation break down value loss by time and usage. Mileage-based depreciation is especially useful for used cars because two vehicles of the same age can have very different wear and value.","simplifiedExplanation":"They’re estimating how fast the car loses value based on time and on how much it’s been driven. That helps compare cars that are similar in age but have different mileage."}},{"startTime":123.8,"endTime":129.3,"type":"concept","title":"cross shop it","url":"/glossary/cross-shop-it","quote":"and other vehicles that have value scores as well so you can cross shop it.","canonicalId":"concept:cross-shop-it","priority":0.5,"confidence":0.8,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Cross-shopping means comparing multiple vehicles side-by-side using consistent metrics (price, value scores, depreciation, etc.). The goal is to identify which option offers the best value rather than focusing on just one listing.","simplifiedExplanation":"Cross-shopping means looking at several similar cars and comparing them. Instead of judging one listing alone, you compare the options to find the best deal."}},{"startTime":162.9,"endTime":177.5,"type":"company","title":"Edmunds","url":"/glossary/edmunds","quote":"Dad, let's jump into the Edmunds data. You ready for this? This is crazy... Average amount of finance for new vehicle purchases hits a record $43,899 in Q1 [2026]. Edmunds data shows...","canonicalId":"company:edmunds","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Edmunds is an automotive pricing and research company that publishes market data used by consumers and dealers. In this segment, the hosts cite Edmunds data to support claims about loan terms, down payments, and affordability.","simplifiedExplanation":"Edmunds is a car research site that tracks pricing and buying trends. Here they’re being used as the source for the statistics in the discussion."}},{"startTime":177.5,"endTime":182.9,"type":"concept","title":"affordability pressures","url":"/glossary/affordability-pressures","quote":"...at record levels as affordability pressures persist. We're going to jump straight to that point.","canonicalId":"concept:affordability-pressures","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Affordability pressures refer to the combined effect of higher prices, higher interest costs, and higher everyday expenses on buyers’ ability to pay. In this segment, it’s linked to longer loan terms, smaller down payments, and higher monthly payments."}},{"startTime":245.7,"endTime":273.6,"type":"concept","title":"negative equity","url":"/glossary/negative-equity","quote":"We know that a large percentage of the population has negative equity if they're trying to trade their car. The more people that have negative equity that are trying to trade their car is going to bring the average amount of money down to a lower number because those people are rolling over their negative equity...","canonicalId":"concept:negative-equity","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Negative equity happens when you owe more on your current car loan than the car is worth (often due to depreciation). The segment explains that when trading in, buyers may “roll over” that negative equity into the new loan, increasing the amount financed.","simplifiedExplanation":"Negative equity means your current car is worth less than what you still owe on it. When you trade it in, that gap can get added to the new loan, making the new payment bigger."}},{"startTime":320.9,"endTime":334.17,"type":"concept","title":"share of new car buyers committing to monthly payments of $1,000 or more","url":"/glossary/share-of-new-car-buyers-committing-to-monthly-payments-of-1-000-or-more","quote":"...look at this, Pops, $1,000 a month payments remain persistently high. The share of new car buyers committing to monthly payments of $1,000 or more accounted for 20% of all financed vehicles...","canonicalId":"concept:share-of-new-car-buyers-committing-to-monthly-payments-of-1-000-or-more","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"This metric measures how many financed new-car purchases have very high monthly payments (at or above $1,000). The segment uses it to show affordability stress is worsening, with the share rising to 20% of financed vehicles.","simplifiedExplanation":"They’re tracking how many people are signing up for car payments that are $1,000 a month or more. If that number is rising, it suggests more buyers are struggling to afford new cars."}},{"startTime":334.37,"endTime":341.0,"type":"term","title":"auto loans","url":"/glossary/auto-loans","quote":"Think about that for a second. One out of every five auto loans is going to be $1,000 or more per month just for the car payment.","canonicalId":"term:auto-loans","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"The discussion is about how people finance car purchases with loans. Loan size and interest rates determine the monthly payment, which strongly affects affordability.","simplifiedExplanation":"An auto loan is money you borrow to buy a car, and you pay it back over time. The monthly payment depends on how big the loan is and how long you take to pay it off."}},{"startTime":389.1,"endTime":398.8,"type":"term","title":"automobile insurance","url":"/glossary/automobile-insurance","quote":"Just for the car loan, you haven't factored in the cost of automobile insurance. You haven't factored in any maintenance.","canonicalId":"term:automobile-insurance","priority":0.5,"confidence":0.8,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Automobile insurance is the policy cost that protects you financially in crashes, theft, and other losses. Insurance premiums can vary widely by driver, location, and vehicle.","simplifiedExplanation":"Car insurance is what you pay to protect yourself if something happens to the car. The price depends on things like who’s driving and what car you have."}},{"startTime":567.9,"endTime":577.0,"type":"term","title":"84 months","url":"/glossary/84-months","quote":"What percentage of new car loans has this guy given out to people that were 84 months or longer for his customers? What do you think, dad?","canonicalId":"term:84-months","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"“84 months” is a common long-term auto loan length—7 years. Longer terms generally lower the monthly payment but increase the total interest cost and can increase the risk of being upside down on the loan if the car’s value drops.","simplifiedExplanation":"“84 months” means the loan is paid back over 7 years. Longer loans can make the monthly payment smaller, but you usually pay more overall."}},{"startTime":762.0,"endTime":767.3,"type":"concept","title":"84 plus month car notes","url":"/glossary/84-plus-month-car-notes","quote":"The number of people who are taking on 84 plus month car notes is absolutely crazy and at the same time to your point that one of the other drivers that increases the amount that you're paying back in interest would be the amount of money that you put down and your interest rate.","canonicalId":"concept:84-plus-month-car-notes","priority":0.5,"confidence":0.84,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"“84 plus month car notes” means auto loans with terms of 84 months or longer. The episode frames this as a sign of affordability pressure, since very long terms can dramatically increase total interest paid.","simplifiedExplanation":"That phrase means car loans lasting 7 years or more. Longer loans can make payments seem smaller, but they often cost a lot more in interest."}},{"startTime":807.0,"endTime":810.51,"type":"concept","title":"principal","url":"/glossary/principal","quote":"So you've seen a dip in the amount of money people are putting down, which increases the amount of principal that you're paying off.","canonicalId":"concept:principal","priority":0.5,"confidence":0.86,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Principal is the original loan amount borrowed (separate from interest). The episode explains that putting down less money increases the principal you’re financing, which then increases the interest you pay.","simplifiedExplanation":"Principal is the amount of money you borrowed in the first place. If you borrow more because you put less down, you’ll pay more interest too."}},{"startTime":810.51,"endTime":818.0,"type":"term","title":"interest rates","url":"/glossary/interest-rates","quote":"Yeah, and think about this. What do you think interest rates were in 2015? I can help you with that. They were dirt cheap.","canonicalId":"term:interest-rates","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Interest rates determine how expensive borrowing money is. In auto lending, higher rates raise the APR on car loans, which increases monthly payments and total interest paid over the life of the loan.","simplifiedExplanation":"Interest rates are the “price” of borrowing money. When they go up, car loans cost more each month and you pay more total interest."}},{"startTime":1028.0,"endTime":1032.8,"type":"company","title":"Progressive","url":"/glossary/progressive","quote":"Well, with the name your price tool from Progressive, you can get a better budgeter and potentially lower your insurance bill too.","canonicalId":"company:progressive","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Progressive is a major U.S. insurance company. In the segment, they’re referenced as offering a tool to help estimate and potentially lower an insurance bill.","simplifiedExplanation":"Progressive is an insurance company. They’re mentioned here because they have a tool that helps you figure out a budget for your car insurance."}},{"startTime":1066.5,"endTime":1072.7,"type":"brand","title":"Toyota","url":"/glossary/toyota","quote":"...showing GM Toyota Ford Honda Nissan slide as US market downshift.","canonicalId":"brand:toyota","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Toyota is a global automaker and one of the largest sellers in the U.S. The episode uses Toyota’s year-over-year sales decline to illustrate that even traditionally strong brands are feeling pressure.","simplifiedExplanation":"Toyota is one of the biggest car brands. If Toyota’s sales are dropping too, it suggests the overall market is struggling, not just a few niche brands."}},{"startTime":1066.5,"endTime":1072.7,"type":"brand","title":"GM","url":"/glossary/gm","quote":"...maybe you do have more cracks in the foundation showing GM Toyota Ford Honda Nissan slide as US market downshift.","canonicalId":"brand:gm","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"GM (General Motors) is one of the major U.S. automakers, and its sales trends are often used as a barometer for broader demand. When the segment lists GM alongside other brands, it’s highlighting how widespread the downturn is.","simplifiedExplanation":"GM is a big car company in the U.S. Mentioning GM in a sales downturn list helps show the problem isn’t limited to just one brand."}},{"startTime":1066.5,"endTime":1072.7,"type":"brand","title":"Honda","url":"/glossary/honda","quote":"...showing GM Toyota Ford Honda Nissan slide as US market downshift.","canonicalId":"brand:honda","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Honda is another major U.S. automaker whose sales trends help indicate whether the slowdown is broad-based. Including Honda in the list suggests the downturn is affecting multiple brands, not just one segment."}},{"startTime":1078.2,"endTime":1099.1,"type":"concept","title":"year over year (YoY)","url":"/glossary/year-over-year-yoy","quote":"What's fascinating about last month's sales data is the magnitude with which some of these automakers year over year for the month of March fell off of a cliff.","canonicalId":"concept:year-over-year-yoy","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"“Year over year” compares performance in the same month across two different years (e.g., March this year vs. March last year). It’s a common way to judge whether sales are truly improving or just benefiting from one-time timing effects.","simplifiedExplanation":"Year over year means “this month compared to the same month last year.” It helps you see if things are getting better or worse, not just if one month was unusual."}},{"startTime":1083.7,"endTime":1093.1,"type":"concept","title":"tariffs","url":"/glossary/tariffs","quote":"...many buyers in March of last year boosted sales numbers because they were trying to buy cars before tariffs.","canonicalId":"concept:tariffs","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Tariffs are taxes imposed on imported goods, and in auto markets they can raise vehicle and parts costs. The segment suggests some buyers pulled purchases forward to avoid higher prices, which can temporarily boost sales before the tariff impact hits.","simplifiedExplanation":"Tariffs are extra taxes on imported products. If tariffs are coming, some people buy cars early to try to avoid paying more later."}},{"startTime":1324.9,"endTime":1328.7,"type":"concept","title":"incentives from the manufacturers","url":"/glossary/incentives-from-the-manufacturers","quote":"...we're compiling the data right now for the month of April incentives from the manufacturers.","canonicalId":"concept:incentives-from-the-manufacturers","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Manufacturer incentives are discounts or financing offers (like cash rebates or low-rate loans) used to stimulate demand. Incentives can change month to month and strongly influence transaction prices and sales volumes.","simplifiedExplanation":"Incentives are deals the car company offers to make buying easier—like rebates or special financing. They can affect how many cars get sold and what people actually pay."}},{"startTime":1328.7,"endTime":1332.5,"type":"concept","title":"unsold new cars","url":"/glossary/unsold-new-cars","quote":"It's one of my favorite videos you ever did. What happens to unsold new cars? They sell.","canonicalId":"concept:unsold-new-cars","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"“Unsold new cars” refers to vehicles sitting in inventory that haven’t been purchased by consumers yet. In auto markets, unsold inventory often leads to increased incentives, promotions, or pricing adjustments to move cars.","simplifiedExplanation":"Unsold new cars are cars that are already on dealer lots but haven’t been bought. When that happens, dealers and manufacturers often start offering bigger deals to get them sold."}},{"startTime":1417.8,"endTime":1426.0,"type":"concept","title":"great recession","url":"/glossary/great-recession","quote":"You know, I remember back in 2007 or 2008, during the great recession...","canonicalId":"concept:great-recession","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"The Great Recession (2007–2009) was a major economic downturn that sharply reduced consumer spending, including on big-ticket items like cars. The episode uses it as a reference point for how automakers respond with incentives during demand shocks.","simplifiedExplanation":"This was a big economic crisis in the late 2000s. When money got tight, people bought fewer cars, so dealerships and automakers had to change how they tried to sell."}},{"startTime":1426.0,"endTime":1430.2,"type":"brand","title":"Acura","url":"/glossary/acura","quote":"I was at the Acura store and he said, well, what do you think we need to do?","canonicalId":"brand:acura","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Acura is Honda’s luxury brand, and the speaker references working at an Acura store during the Great Recession era. The anecdote is used to illustrate how incentives and dealer offers may or may not be enough to overcome consumer hesitation.","simplifiedExplanation":"Acura is Honda’s luxury brand. The host mentions an Acura dealership experience to explain how tough it can be to get people to buy during uncertain times."}},{"startTime":1496.3,"endTime":1501.9,"type":"brand","title":"Mazda","url":"/glossary/mazda","quote":"Some other brands they're not buying right now would be Mazda. Mazda sales year over year for the entire quarter, down 14.4%.","canonicalId":"brand:mazda","priority":0.5,"confidence":0.88,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Mazda is mentioned with year-over-year sales declines, suggesting the brand is struggling relative to prior periods. The point is to show that even brands known for affordable options can be hit hard when consumer confidence drops.","simplifiedExplanation":"Mazda is a car brand. The speaker is saying Mazda’s sales are down compared to last year, which helps show how widespread the slowdown is."}},{"startTime":1510.4,"endTime":1529.4,"type":"brand","title":"Nissan","url":"/glossary/nissan","quote":"...Nissan sales. Clarence struggle it. Yeah, well, I'm not going to extrapolate too much out of 200 great pipe cars being sold. Nissan, a brand that has affordable options for consumers, their sales are","canonicalId":"brand:nissan","priority":0.5,"confidence":0.86,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Nissan is mentioned with a year-over-year sales decline, including a specific group-level drop. The speaker frames Nissan as a brand with affordable options, making the weakness notable.","simplifiedExplanation":"Nissan is a major car brand. The host says Nissan’s sales are down compared to last year, even though Nissan is often seen as offering more affordable cars."}},{"startTime":1584.0,"endTime":1605.1,"type":"car","title":"Ram 1500","url":"/cars/ram/1500","image":"https://upload.wikimedia.org/wikipedia/commons/3/3a/2025_RAM_1500_REV%2C_front_NYIAS_2023.jpg","quote":"There are tons of new Ram 1500 leftovers still out there. So let's come here. We're going to do year and we're going to say up the 2025.","canonicalId":"car:ram:1500","priority":0.9,"confidence":0.93,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"The Ram 1500 is a full-size pickup truck, and it’s central to the episode’s sales discussion. The hosts are using “Ram 1500 leftovers” and inventory counts to argue that pricing and availability are driving sales momentum.","simplifiedExplanation":"The Ram 1500 is a popular pickup truck. The hosts are basically saying there are lots of unsold Ram 1500s sitting at dealers, and that affects how much dealers discount them.","imageAttribution":"Kevauto (CC BY-SA 4.0)"}},{"startTime":1688.17,"endTime":1695.0,"type":"brand","title":"Jeep","url":"/glossary/jeep","quote":"And Jeep had been on a five year major decline in sales because they went up market too quickly.","canonicalId":"brand:jeep","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Jeep is a Stellantis-owned brand known for SUVs and trucks, and it’s often discussed in terms of pricing strategy and sales momentum. In this segment, Jeep’s “up market too quickly” is framed as a reason for a multi-year sales decline.","simplifiedExplanation":"Jeep is a car brand that makes mostly SUVs and trucks. The host is saying Jeep priced its vehicles higher than many buyers were willing to pay, which hurt sales over time."}},{"startTime":1753.8,"endTime":1760.0,"type":"brand","title":"VW","quote":"And then VW, we're just starting to get data from them. I think it's going to come in significantly worse once VW and Audi numbers come in.","canonicalId":"brand:vw","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"VW refers to Volkswagen, which sells vehicles in the U.S. under both VW and Audi brands. The host suggests Volkswagen’s numbers will look worse once Audi and VW data are fully in.","simplifiedExplanation":"VW is short for Volkswagen, a big automaker. The host is saying Volkswagen’s sales results are expected to decline more once the full data comes in."}},{"startTime":1760.0,"endTime":1773.6,"type":"brand","title":"Audi","url":"/glossary/audi","quote":"We know Audi. They're the proud possessor of some of the slow selling vehicles in the United States of America right now.","canonicalId":"brand:audi","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"Audi is Volkswagen Group’s premium brand, and it’s mentioned here in the context of slow-selling vehicles in the U.S. The host expects Audi’s sales to decline further year-over-year once the data is finalized.","simplifiedExplanation":"Audi is a premium car brand. The host is saying Audi has some models that aren’t selling well in the U.S., and that will likely show up in the sales numbers."}},{"startTime":1812.8,"endTime":1820.4,"type":"concept","title":"month over month","url":"/glossary/month-over-month","quote":"...the numbers were up $750 or so month over month.","canonicalId":"concept:month-over-month","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"“Month over month” (MoM) compares a metric to the previous month. The host notes the average advertised asking price increased by roughly $750 MoM, reinforcing the idea that pricing pressure is ongoing.","simplifiedExplanation":"“Month over month” means comparing this month to last month. The host is saying prices rose again recently, not just over the long term."}},{"startTime":1890.4,"endTime":1918.1,"type":"company","title":"CarEdge.com","url":"/glossary/caredge-com","quote":"Today's show, again, folks, is brought to you by CarEdge.com. We have our promotion ending... We have a car buying service. Takes care of research, dealer outreach, and even negotiations.","canonicalId":"company:caredge-com","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"CarEdge.com is the car-buying service being promoted in the episode. The host describes it as handling research, dealer outreach, and negotiations, plus a live negotiation feature.","simplifiedExplanation":"CarEdge.com is a website/service that helps you buy a car. They do things like research cars, contact dealers, and help negotiate the deal."}},{"startTime":1906.6,"endTime":1914.0,"type":"concept","title":"dealer outreach","url":"/glossary/dealer-outreach","quote":"We have a car buying service. Takes care of research, dealer outreach, and even negotiations.","canonicalId":"concept:dealer-outreach","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"“Dealer outreach” is the process of contacting multiple dealerships to request quotes and availability. In a negotiation context, it’s how buyers (or a service) generate competing offers.","simplifiedExplanation":"Dealer outreach means reaching out to dealerships to ask for a price and deal. The goal is to get multiple quotes so you can negotiate better."}},{"startTime":2016.8,"endTime":2016.8,"type":"car","title":"Toyota Camry","url":"/cars/toyota/camry","image":"https://upload.wikimedia.org/wikipedia/commons/b/bc/%28USA-Massachusetts%29_Private_Toyota_Camry_NJ-Z22UKZ_rear_2024-06-06.jpg","quote":"Yeah, we just got an OTD on a Toyota Camry and saved someone $840. That is so cool.","canonicalId":"car:toyota:camry","priority":0.9,"confidence":0.95,"source":"hybrid-fuzzy+gpt-5.4-nano","data":{"explanation":"The Toyota Camry is a mainstream midsize sedan and one of the most common “new car” benchmarks for pricing discussions. Because it’s widely sold, small differences in discounting, dealer fees, and incentives can translate into noticeable out-the-door savings.","simplifiedExplanation":"The Toyota Camry is a very popular Toyota sedan. When people talk about deals on a Camry, they’re often talking about the real final price after taxes and fees.","imageAttribution":"S5A-0043 (CC BY 2.0)"}}],"speakers":[{"id":"s1","name":"Ray","role":"host"},{"id":"s2","name":"Zach Shefska","role":"host"},{"id":"s3","name":"Bleav","role":"host"}],"transcripts":[{"url":"http://getcarcurious.com/episodes/edmunds-just-put-the-entire-auto-industry-on-alert-episode-1045/transcript.vtt","type":"text/vtt"}]}