{"version":"1.0.0","episode":{"title":"Feb. 23, 2026 | Auto industry gets reprieve from new tariffs; AlixPartners' Dan Hearsch","url":"http://getcarcurious.com/episodes/feb-23-2026-auto-industry-gets-reprieve-from-new-tariffs-alixpartners-dan-hearsch","audioUrl":"https://dts.podtrac.com/redirect.mp3/www.buzzsprout.com/2447022/episodes/18733107-feb-23-2026-auto-industry-gets-reprieve-from-new-tariffs-alixpartners-dan-hearsch.mp3","description":"President Donald Trump issues new 15 percent global tariff but exempts vehicles and auto parts. Stellantis prepares to report its first annual loss driven by €22 billion ($25.9 billon) in write-downs. Plus, AlixPartners’ Dan Hearsch explains why the auto industry ranks as the world’s most disrupted sector."},"annotations":[{"startTime":8.2,"endTime":13.5,"type":"concept","title":"tariff","url":"/glossary/tariffs","quote":"Today on the show, Trump's new tariff has a key carve-out for the auto industry.","canonicalId":"concept:tariffs","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"A tariff is a tax imposed by a government on imported goods, which can affect the price and competitiveness of products like cars in the domestic market.","simplifiedExplanation":"A tariff is a tax that a country puts on things coming from other countries, like cars. This can make those cars more expensive to buy."}},{"startTime":18.8,"endTime":22.7,"type":"concept","title":"dealership franchise consolidation","url":"/glossary/dealership-franchise-consolidation","quote":"a surprising trend in dealership franchise consolidation.","canonicalId":"concept:dealership-franchise-consolidation","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Dealership franchise consolidation refers to the trend where automotive dealerships are being merged or acquired, reducing the number of independent dealerships and often leading to larger dealership groups.","simplifiedExplanation":"Dealership franchise consolidation means that smaller car dealerships are joining together or being bought by bigger companies, so there are fewer separate places to buy cars."}},{"startTime":31.3,"endTime":38.5,"type":"concept","title":"automotive development cycle","url":"/glossary/automotive-development-cycle","quote":"It really emphasizes how different the automotive development cycle is than other consumer goods,","canonicalId":"concept:automotive-development-cycle","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"The automotive development cycle is the process and timeline car manufacturers follow to design, engineer, test, and launch new vehicles, which is typically much longer and more complex than for other consumer products.","simplifiedExplanation":"The automotive development cycle is how long it takes to make a new car, from the first idea to when you can buy it. It usually takes a lot longer than making other things."}},{"startTime":44.4,"endTime":49.7,"type":"term","title":"import taxes","url":"/glossary/import-taxes","quote":"President Trump has issued a new 15% global tariff after the Supreme Court ruled many of its previous import taxes are illegal.","canonicalId":"term:import-taxes","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Import taxes are duties charged on goods brought into a country from abroad, affecting the cost and pricing of those goods.","simplifiedExplanation":"Import taxes are extra costs added when things are bought from other countries, making them more expensive."}},{"startTime":55.5,"endTime":59.5,"type":"term","title":"copper","url":"/glossary/copper","quote":"Vehicles, parts, steel, aluminum, and copper are exempt.","canonicalId":"term:copper","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Copper is a metal used in cars mainly for electrical wiring and components due to its excellent conductivity.","simplifiedExplanation":"Copper is a metal used in cars to help electricity flow through wires."}},{"startTime":55.5,"endTime":59.5,"type":"term","title":"steel","url":"/glossary/steel","quote":"Vehicles, parts, steel, aluminum, and copper are exempt.","canonicalId":"term:steel","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Steel is a strong metal alloy commonly used in vehicle manufacturing for the body, frame, and many structural components.","simplifiedExplanation":"Steel is a type of metal used to make cars strong and safe."}},{"startTime":55.5,"endTime":59.5,"type":"term","title":"aluminum","url":"/glossary/aluminum","quote":"Vehicles, parts, steel, aluminum, and copper are exempt.","canonicalId":"term:aluminum","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Aluminum is a lightweight metal used in cars to reduce weight and improve fuel efficiency, often found in body panels and engine parts.","simplifiedExplanation":"Aluminum is a light metal that helps make cars lighter and use less fuel."}},{"startTime":64.3,"endTime":69.2,"type":"concept","title":"automakers","url":"/glossary/automakers","quote":"The exemption is a relief for automakers and suppliers who lobby to maintain the status quo.","canonicalId":"concept:automakers","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Automakers are companies that design, manufacture, and sell motor vehicles.","simplifiedExplanation":"Automakers are companies that make cars and trucks."}},{"startTime":64.3,"endTime":69.2,"type":"concept","title":"suppliers","url":"/glossary/suppliers","quote":"The exemption is a relief for automakers and suppliers who lobby to maintain the status quo.","canonicalId":"concept:suppliers","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Suppliers are companies that provide parts and materials to automakers for vehicle production.","simplifiedExplanation":"Suppliers are businesses that make parts used to build cars."}},{"startTime":79.2,"endTime":79.2,"type":"company","title":"Stellantis","url":"/glossary/stellantis","quote":"Stellantis is about to report its first annual loss since its 2021 formation.","canonicalId":"company:stellantis","priority":0.9,"confidence":1.0,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Stellantis is a multinational automotive manufacturing corporation formed in 2021 from the merger of Fiat Chrysler Automobiles and PSA Group. It owns multiple car brands including Jeep, Ram, Peugeot, and others.","simplifiedExplanation":"Stellantis is a big car company made when two big car companies joined together. They make lots of different cars under different brand names."}},{"startTime":85.0,"endTime":85.0,"type":"term","title":"write downs","url":"/glossary/write-downs","quote":"The result is driven by a staggering 22 billion euros in write downs.","canonicalId":"term:write-downs","priority":0.9,"confidence":1.0,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Write downs are accounting charges that reduce the value of assets on a company's balance sheet, often reflecting losses or reduced future profitability.","simplifiedExplanation":"Write downs mean a company says some things it owns are worth less money than before, so they lower the value in their records."}},{"startTime":89.9,"endTime":89.9,"type":"concept","title":"EV strategy","url":"/glossary/ev-strategy","quote":"The automaker says those charges stem from an overly ambitious EV strategy under former CEO Carlos 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costs.","canonicalId":"term:warranty-costs","priority":0.5,"confidence":1.0,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Warranty costs are expenses a company incurs to repair or replace products under warranty, reflecting product reliability and quality issues.","simplifiedExplanation":"Warranty costs are the money a company spends fixing things that break while still covered by their guarantee."}},{"startTime":145.2,"endTime":164.3,"type":"concept","title":"network consolidation","url":"/glossary/network-consolidation","quote":"Lincoln dropped 43 dealers as it continues network consolidation, and Jaguar fell below 100 stores during its transition to ultraluxury.","canonicalId":"concept:network-consolidation","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Network consolidation refers to automakers reducing the number of dealerships or franchises they work with to improve efficiency, reduce costs, and strengthen brand control 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There's kind of two things going on. One is ongoing work, particularly by Buick... So as those Buick stores leave what had been a shared space, you see more standalone GMC stores...","canonicalId":"concept:standalone-stores","priority":0.5,"confidence":0.95,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"Standalone stores refer to dealerships dedicated to a single brand, rather than sharing space with other brands. This approach allows for a focused brand experience and often aligns with strategic shifts like electrification.","simplifiedExplanation":"Standalone stores are car dealerships that only sell one kind of car brand instead of many brands in the same place."}},{"startTime":185.7,"endTime":192.4,"type":"concept","title":"all-electric plan","url":"/glossary/all-electric-plan","quote":"One is ongoing work, particularly by Buick, which is doing offering basically buyouts to dealers who don't want to go to kind of its all electric plan for the future.","canonicalId":"concept:all-electric-plan","priority":0.9,"confidence":1.0,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"An all-electric plan refers to a manufacturer's strategy to transition their vehicle lineup entirely to electric vehicles, eliminating internal combustion engines over time.","simplifiedExplanation":"An all-electric plan means the car company wants to make only cars that run on electricity instead of gas or diesel."}},{"startTime":196.9,"endTime":203.0,"type":"brand","title":"GMC","url":"/glossary/gmc","quote":"So as those Buick stores leave what had been a shared space, you see more standalone GMC stores, but what a bit of Buick GMC is now just a GMC by itself.","canonicalId":"brand:gmc","priority":0.9,"confidence":1.0,"source":"hybrid-fuzzy+gpt-4.1-mini","data":{"explanation":"GMC is a division of General Motors that specializes in trucks, SUVs, and commercial vehicles. 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