General Motors is a major car company that makes many popular brands like Chevrolet and Cadillac. They are important in the car industry and have a big influence on how cars are made and sold.
Nissan is another big car company from Japan that makes many different types of cars, including electric ones. They have been struggling with profits recently, which means they are making less money than before.
An internal combustion engine is a common type of engine that makes cars go by burning fuel inside the engine. It's what most cars have used for many years before electric cars became popular.
EV adoption means more people are starting to buy electric cars instead of regular gas-powered cars. This change is happening slowly as people get used to the idea of electric vehicles.
A hybrid powertrain is a system in cars that uses both a regular engine and an electric motor. This helps the car use less fuel and be better for the environment.
The Chevrolet Silverado 1500 LTZ is a large truck that can carry heavy loads and is often used for work or towing. The LTZ version has extra features to make it more comfortable and stylish.
EVs, or electric vehicles, are cars that run on electricity instead of gas. They are better for the environment because they don't produce exhaust fumes.
ICE vehicles are cars that run on gasoline or diesel fuel, using an engine that burns fuel to create power. This is different from electric vehicles that use batteries.
Car
Chevrolet
Chevrolet is a brand of cars and trucks made by General Motors. They make many different types of vehicles, including popular ones like the Silverado pickup and the Malibu sedan.
Inventory means the cars that a dealership has on hand to sell. It's important for them to keep track of how many cars they have so they can sell them to customers.
'Supply' means how many cars are available to buy at dealerships. If there are a lot of cars, it can affect how much they cost and how easy it is to buy one.
The 2026 model year means cars that will be available for sale starting in 2026. Car companies usually announce new models a year ahead of time, so people talk about them early.
'2025 leftovers' are cars from the 2025 model year that didn't sell and are still available. Dealers often want to sell these at lower prices to make room for newer models.
Incentives are special offers from car manufacturers to help sell cars, like lower prices or better financing options. They can change from year to year.
Chevrolet pickup trucks are vehicles designed for carrying loads and towing. The 2025 models are the latest versions, featuring updated designs and technology.
A four-cylinder turbo engine is a small engine with four parts that help it run. The turbo helps it go faster and use less fuel, which is why many trucks have this kind of engine.
Average listing price is the typical price that used cars are being sold for. It helps buyers understand how much they might expect to pay for a used car.
The used car market is where people buy and sell cars that have been owned by someone else before. Prices can change based on how many cars are available and how much people want to buy them.
The 'leverage pendulum' is a way to describe how much power buyers or sellers have in a market. If prices are high, sellers have the advantage, but if prices go down, buyers can negotiate better deals.
The Hyundai Palisade is a large family car that can fit several people and their belongings comfortably. It's known for being safe and having lots of features that make driving easier and more enjoyable, which is why people are interested in the newer models.
The market area is the area where you're looking to buy a car. Sometimes, if there aren't many cars available nearby, you might need to look further away to find a better deal.
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Glorious as it is in the General Motors C-suite this morning.
Pops were going to talk about General Motors.
Their profits plummeting 57% yet the stock soaring this morning on the stock market.
Before we do, either everyone know that we are offering the first new promotion
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Now, Dad.
May I say with that promotion, there goes my year-end bonus.
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Let's move on, Pops. Let's turn our attention to General Motors.
So they announced their third quarter earnings, and year over year, their profit fell 57%.
When I saw that, I was reminded of Nissan, who actually saw their profits decline last year
for one of their quarters, 99% year over year. 57% is nothing to sneeze at.
That's a huge decline annually. That being said, you look at the stock market right now, Dad. GM
stock is up 15.2% just this morning. The market seemed to be really impressed by General Motors
capability to lose 57% of their profits. Well, when you dig in to the earnings, Dad,
the things that are pretty shocking in here are as follows. One is they have decided they are
going to postpone their transition to electric vehicles. They are doubling back down on internal
combustion engine vehicles, the vehicles that make them the most amount of money.
And, Dad, they seem to think that they're in a good position from an inventory standpoint,
which I have some questions for. We're going to go to the magic car edge machine
during today's show, but just to demonstrate what we're going to be looking at.
2026, new Chevrolet products are already on dealer lots, and they are sitting, folks,
1,125 days supply in Portland, Oregon, where new inventory is starting to hit the ground.
Old inventory 2025s, look at this, $80,000 pickup trucks, man. The 2025s, they're selling
faster 51 days supply, but it's been sitting at this dealer's lot for 187 days. So,
General Motors, Dad, betting big on internal combustion engine vehicles. However,
I'm starting to see a little bit of cracks in that foundation because the new vehicles,
the 26s, they haven't sold, or at least not quickly yet.
You know what I learned today?
What did you learn today, Pops?
You know, and I'm saying this because I want people to understand that you can learn at any age.
And here is what I learned today, that if you were going to share bad news about your earnings
with the American people and especially Wall Street, include in there how
what we see the future to be, which is brighter than we would have ever expected,
and we're increasing our guidance for total profit for the year upward.
So, let's give them the bad news first, then we'll give them some good news that we really
expect because of how we're positioned, that our profits are going to exceed what we had
originally thought. And lo and behold, after the bad news, your stock goes up 15% almost instantly.
Well, well done.
Yeah, seriously, corporate, I don't know, just being corporate, they're really good at it over at
General Motors. So, let's look at some of the details here, Dad. And then we'll look at the
inventory piece. We'll look at a few things that I think are also going to bolster GM's profitability
moving forward. So, like I said a moment ago, 57% decline in profitability.
I'm going to scroll down here, however, you can see here in GM on October 14th,
said it would take a $1.6 billion charge off against its third quarter earnings to reassess
its EV capacity. Dad, this means that General Motors, you can see it here, quote, said,
near-term EV adoption will be lower than planned. We've seen many automakers come out
and write off billions of dollars as related to their electric vehicle programs. And then you
can see here, Dad, if I scroll down a little bit lower right here, the automaker now expects a
longer runway for its profitable internal combustion vehicles as the transition to EV slows.
They're bringing more and more manufacturing back into the United States, including moving
production of the Chevrolet Blazer to Tennessee from Mexico. So, Dad, this is what you and I have
talked about for a long time, which is the EV adoption isn't going to happen. EV adoption
isn't going to happen as quickly. And these automakers will return back to their internal
combustion and hybrid powertrains, which generally should be a good thing for consumers because we
know, for example, we were looking at in Portland, Oregon, 1,125 days supply, and it would take 1,125
days to sell these, what was it, 2026 Silverado 1500 LTZ. This is an internal combustion engine
vehicle. That's why the target discount range is so high is because if they produce more of these
and they don't sell, that should create leverage for consumers. But there's General Motors strategy
right there. EVs didn't work. Now we're going to push more of those internal combustion engine
and hybrid powertrain vehicles. Well, listen, we've known for years, and we've said it for years,
that the internal combustion engine divisions of every one of these major manufacturers has been
used to underwrite the costs of producing EVs. If it wasn't for the profits that they could make on
ICE vehicles, they would have never been able to go into the EV realm. So what we're seeing is
basically a return to their roots. They know they can make money making ICE vehicles. Okay,
we've proven we can lose billions trying to get people to buy EVs. Let's cut back on the EVs.
Let's produce more internal combustion engine vehicles and let's agree that we're going to do
that for a longer term than we originally had. Well, Pops, let's move past the strategy piece
and let's talk about the implications for car buyers because you can see here the CFO of General
Motors says we've got an opportunity to maintain an approach inventory, feel disciplined on our
inventory approach. But I'm poking holes at that already. You don't have to look that far. Go to
the car edge car search and look at the 2026 new Chevrolet inventory, for example, and it's sitting
there. Well, click do yourself a favor and click on one of those vehicles and see how long it's
been sitting in dealers lots. My suspicion, and this is strictly a suspicion because we don't
normally check before the show, my suspicion is that the dealers in the Portland area all received
their initial 2026 Silverado inventory at about the same time, which was probably not that long ago.
And so the effort is to push the 2025s because folks, if you're looking for a deal,
it'll be on a 2025 because I've got a whole year to sell this 2026. So I'd be curious as to how
many days most of these pickup trucks have been sitting and then what the corresponding number
of remaining 2025s might be. Yeah, but I think that's the interesting dynamic, Dad. You're right.
The 2026s are relatively brand new on these dealer lots, but then here's a 2025. It's been sitting
there for 187 days. So deal opportunities for consumers out there as GM has to reconcile the
fact that they're trying to be more disciplined on inventory while also having a bunch of brand
new inventory that's not moving yet, but will move in the future, an older inventory that's
been sitting for in this case 187 plus days. Now, Dad, I want to thank the sponsor of today's
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Absolutely. All right, so, Dad, let's do another live experiment. That was in Portland,
Oregon. Where do you want to go this time? Go to somewhere in Texas. Texas, the last time I
checked is big truck country because as I've stated, I believe there's a must be a law on the
books that says everyone in Texas must own at least one pickup truck. All right, so let's take
a peek here, Dad. We've got 2026, 2025. So here's an example of a 2025, right? 1500. It's 102 days on
the market, 63,000. So let's open up a 2025. Let's also find a 2026, 1500. So here we go,
four days on the market, right? 33 days on the market. The 26 has been sitting there
not nearly as long. So let's look at 2026 first. This is the 2026.
Yeah, there's a 10,000-day supply because
within 100 miles of Austin, Texas in the last 45 days, only one brand new 2026. What was this?
Silverado 1500 RST has sold yet. Dealers now have 227 of them sitting on their lots,
leading into the end of this year. Now, if we look at that 2025, this is a 1500 LT.
We've got a 52-day supply. 26 have sold in the last 45 days. Dealers have 30 of them
on their lots right now, but it's been sitting for 102 days. So help us understand these dynamics,
Dad. How does this influence how a dealership wheels and deals on these types of vehicles?
It's really simple. When a customer comes in and says, I want a deal, I'm really interested
in your 2026, but I want a big discount. The salesperson is trained to say, if you're looking
for a deal, if you're looking for a discount, if you're looking for significant savings,
I've got a couple of these 2025 leftovers that we are really motivated to move.
There's where I can get you significant savings, enough savings to compensate for the fact that
we'll be getting a 2025 instead of a 2026. I wish I had a dollar for every time I said to a customer,
buy the current model and buy the previous model because I've got 12 months to sell
the current model year that just arrived. So if the important thing to you is saving money,
then we need to look at the previous model year, not the current model year. Now,
if what's most important to you is the most up-to-date technology and you have to have the
greatest newest that just came out, I can sell it to you. I'm just not going to be able to save you
the kind of money I can on one of those previous model years. Now look at this, the incentives
from the manufacturer are different as well. In the 2025, you have 0% financing for 36 months.
You can see that right there. Well, in the 2026, it's 2.9% financing for 36 months. So General
Motors thus far is not really pushing to move their new 2026 inventory. However, that being said,
a 10,000-day supply, that will obviously go down as some of these 227 vehicles are sold
over the next couple of months, but it's still a sky-high place to start. So we will have to check
in on this in another week, another month, because that if General Motors goes into December
and their day supply is still really high of this inventory, then you would be surprised if
they don't increase their incentives to trade the metal. Here's what you should do and bookmark it
somewhere. Just for giggles, grins. See how many 2025 pickup trucks, Chevy pickup trucks, are in the
Austin area now and then a month from now towards Thanksgiving. Let's take a look and see how many
of those are still remaining.
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So we've got 655, 2025 Chevrolet pickup trucks for sale within 50 miles of Austin. And let's just
look at $257. We've got double the amount that our 26 has done.
Okay. And what do you think dealers are going to push for the next 30 days? What do you think
dealers are going to push for the next 60 days? The 25s. Okay. So I would be curious a month from
now to see how significantly lower the availability of 2025s is. And you'll probably, you might even
see the 2026s inventory increase slightly as dealers are still getting their allocations
of the 2026s arriving, but they're concentrating on selling the 2025s.
Some opportunities, though, I think out there for general motors, customers,
their stock skyrocketing, their profits plummeting. You go out there and you're looking at a prior,
excuse me, model year. The equivalent you've got here from Josh, one of our car edge concierges,
the best incentives are on the four-cylinder turbo trucks usually as well. So thank you for that,
Josh. Appreciate the inside baseball. Friendly reminder, you can work with Josh and others on
our team. Just go to caredge.com, click on car buying service. You can meet the team as well.
So I'm going to go ahead and scroll on down here once the page loads for me. It loads nice. There
we go. All that AWS stuff, that even impact, AWS even impacted my ability to get a price
on my new glasses yesterday at the optician because they couldn't get to a VSPs website.
I had to go back today. Like I said, folks, if we can help you out, caredge.com, click on car
buying service. And yes, there was an AWS outage yesterday, but thank you, Dad, for making us aware
of your trials and tribulations. All right, should we switch gears? We can go and reverse if you'd
like. All right, we've got new data from Cox Automotive. Used vehicle inventory sets new
high for 2025 as sales slow. So the beginning of today's show was all about the new car market
and what's going on with General Motors, what's causing their stock to pop and their profits to
plummet. But on the used car side of things, Dad, we have the highest level of inventory we've seen
so far in 2025, 2.26 million. So at the exact same time, we're seeing new car inventory levels hit
record highs for this year. We're seeing used car inventory levels hit record highs for this year.
That's good news for car shoppers. Now, bear in mind here, the day's supply is 48. When we look at
new car inventory, day supply inventory, it's 84. It's the inverse. So used car market is still a
lot tighter than the new car market, but generally positive sentiment here to see inventory building.
Oh, absolutely. And you can look, the average listing price of 258.25 is probably equal to
or slightly less than what it had been. But it's still way up there as far as I'm concerned. And
I believe the average miles is 70,000 plus when everything is added together. It is,
we have expected a slowdown in sales, new and used. And I think it is finally coming to fruition.
And for a couple of reasons. We are headed into holiday season. Okay. If somebody has to make
a choice between Christmas presents and a vehicle, if they don't want to get thrown out of the house,
the decision is going to be Christmas presents. People are struggling. We talked about it the
other day that the CEO of GoFundMe said that a growing percentage of people on GoFundMe
are opening accounts trying to raise money so that they can afford their groceries.
Well, if you have a hard time affording your groceries and you have to look to GoFundMe to
help you do it, that means you're going to have a hard time buying your holiday gifts. That means
an automobile, new or used, is not on the horizon for you. And I think that would be
true for a vast majority of people as we get closer to the end of the year.
So it's interesting. There is a little bit of a slowdown, but I think the story here,
Dad, is slightly different. I think this is your buying opportunity for 2025 for the used
car market. So what I want to show here is let's look. We were in Austin, Texas, and we were looking
at new Chevrolet pickup trucks. There are 1,956 of them available within 50 miles. What if I just
flipped the script here and I go used, there are 812. So there's significantly less used vehicle
inventory, but we know there's more today than there was yesterday. And it's actually, I love
some of these insights that we have here on the car edge, car search. So you can see in 2025,
it's more important than ever before to keep up with the car price trends in your market.
In Dell Valley, Texas, the average used car sells for $34,572. While the average new car,
holy cow, Dad sells for $65,000. Look at this. There's a 153 days supply for new cars in Dell
Valley, but a 177 days supply for used cars. So it seems like then maybe those high price
points on some of these used cars. I mean, look at this, 2024 Silverado 1500, 15,000 miles,
but it's still got a $53,000 price tag on it. Maybe some of these more expensive used cars
that these dealerships have been trying their best to get top dollar for will finally start
to come down here. And whether that be because to your point, Dad, people can't afford them,
they're spending their money elsewhere, they're buying Christmas gifts instead of cars.
But regardless, I think the leverage pendulum is starting to shift at least a little bit. It's
the favor of the shopper in the used car market. I don't dispute that at all. The problem is that
even as prices come down on used cars, the amount of players in the used car market has shrunk.
So that you can lower the price, but if people can't afford it even at the lower price, if they
have to make a choice, even at the lower price. I'm not trying to make this as big of a macro
thing, but you can go macro if you want to go. I'm seeing opportunity. I think that's the thing
that's coming to mind for me, Dad. Where you see opportunity, I see fewer people actually in a
position to be able to take advantage of that opportunity. And that, to me, is the bigger
issue. If you don't have a big enough slice of the public that feels as if they could take
advantage of that opportunity when it comes up, that makes it more difficult as a retailer.
For sure. But I'm imagining the people watching today's show, right?
Yes.
I'm thinking they're watching this because they want to get a sense for what's going on in the
market. I think it's really important to call out. We have the highest level of used car inventory
that we've seen all of 2025. Whether you agree or disagree with my Dad's take that there are fewer
people in the market. If you are in the market, I'm caveating everything I'm saying. I think what
my Dad's talking about has value. Whatever. I agree with it. That's fine. If you're in the market,
this is the best news we could possibly deliver right now. It's during the exact same time when
the new car market has the highest level of inventory. I hear you wanted to take it down the
doom and gloom path pops, but I'm Mr. Positivity today. This is the best possible news for used
car shoppers right now.
I'm not disagreeing with you. I don't know that I'm taking it down the doom and gloom path.
I think I'm being a realist. Realistically, yes, there are some people that can afford to take
advantage of this situation because on the used car side of things, it could slightly be turning
into somewhat of a buyer's market as opposed to a seller's market. I just feel as if there's fewer
of those people that can actually take advantage of that opportunity than what the industry would
like to see. Yeah, I totally agree. Okay. Well, I'm glad we can agree on that.
But if you're watching this damn show and you're interested in your...
If you're looking for an opportunity, yeah, there are opportunities out there. If you are one of
those people who can take advantage of that opportunity when it comes up, yeah, there will
be more opportunities for you. Absolutely. I think we're saying the same thing just slightly
differently. Good thing we can do that. Let's come here from Jenny.
Yes. Appreciate the kind contribution, Jenny. I can't find a 2025 Hyundai Palisade. Palisade,
excuse me. And the 26s are $10,000 to $15,000 more. I live in Kansas City,
Missouri, and the Pickens are slim. Love you kids and your channel. Let's see if we can help Jenny
out at all. And I will pull up from Josh here. Slim Pickens was a hell of an actor one time
when he was alive. I'm going to pull up from Josh here, pops. Let me take care of the drama
before you call in and sign up for the reminder that we do offer free consultation calls back
on the website as well. So book your consultation call back at CarEdge.com. Click on Car Buying
Service. Click Get Free Consultation, and you can either chat in schedule time, talk or have us
call you back, and we'll see if we're able to help you out. That being said, Dad, let's go to
Kansas City, Missouri. Let's go on the Magic Car Edge machine and let's see if we can see anything
for Jenny. So we were in Kansas City, Missouri, right? Yes. And we're looking for a 2025 Palisade.
Yeah, I got to get a zip code. Give me a second. All right, 64030.
And if we can somehow find one and save her enough money, she might be able to afford an
appetizer at Patrick Mahone and Travis Kelsey's new restaurant.
Open a new restaurant? Yeah, yeah, yeah. 1587 Prime, buddy. You want to go broke. That's the
place these are from my interview. All right, Jenny. So we're looking at new Hyundai Palisades
for sale. I don't have any other. Okay, so there's 189 within 50 miles of you. This may be one of
those circumstances where you're looking outside your market area. But let's see, day's on market
oldest. So there are a couple of 25 still out there. Couple of them. Wow, they're turning over
quickly. There's literally only two. Okay. Dad, is this the case where you're looking
outside your market area to find a better deal? Absolutely. If you're looking to get a current
model year before or the previous model year, and there's only two in your market area,
then you have to expand your market area. Yeah, maybe go out to 300 miles or whatever it is
because there could be a smaller Hyundai dealer outside of the Kansas City area that actually
could be sitting on some Palisades and might be motivated to get rid of them.
Yeah, there's two 2025s, for example, at Crane Hyundai of Bentonville. So head over to Arkansas.
You might be able to find yourself a better deal there and a couple more 25s as we zoom out. Yeah,
actually Crane has a bunch of 2025s. That's actually probably the first dealership I'd be
calling this is Crane dealership because it looks like they have a lot of lingering 2025s over there.
Those would be the ones that I'd be trying to work the bigger deal on.
Yeah, I mean, there's nothing that says you have to buy within the confines of your state.
You are allowed to cross state borders in order to buy automobiles.
Yeah, absolutely. Our concierge team and just Carriage community members in general do that
all the time. So it makes plenty of sense. Hey, Rich, thank you for the kind contribution.
So it's just Ray Allen-Chevresca, right? Love you guys. Is that too gay? No, Rich?
Yes, my first name is just, yes. Yes, we are just Ray.
Just Ray Allen-Chevresca. Appreciate that, Rich. We appreciate your ongoing support.
And we've got from Jenny here. I can drive to Omaha in Kansas. Yeah,
Dad, I think this is a great moment to talk about because it is becoming a buyer's market,
especially in the new car side. And again, it will die on this hill today. On the used car side,
it's the best possible news we could deliver. The fact that inventory levels are the highest
they've been all year. That's good news for shoppers. That means maybe going outside your
market area can get a better deal. So being willing to drive somewhere, fly somewhere,
pick up a car, I have it shipped to you. I mean, those can all be things that save money for you.
We have a very good friend of the program who lives in Florida. And if and when he's bought
Hyundai's, he's bought them in Mississippi, okay? It's not right around the corner,
but the savings have been so significant that it doesn't make sense to buy
in his market area. The dealer in that he deals with in Mississippi is much more amenable to
discounting the vehicle and making it worth his while. So sometimes you just have to,
you have to look a little further from home than you normally would because the savings can be
more than significant enough to make it make sense. Absolutely. Absolutely. All right, folks,
well, if we can help you out with anything, please check it out, caredge.com. We've got our
promotion run in for a limited time only, so take advantage of that 300 bucks off the car buying
service, 30% off Car Edge Pro, and so many great resources available for free when you create
an account back at caredge.com. Dad, let's call it a show. We'll be back tomorrow with more Car Edge Live.
Yeah, my plan is to be back here tomorrow at noon Eastern. I'm looking forward to hanging out with
you for for about a half an hour or so tomorrow. Sounds good to me. Pops, enjoy your afternoon.
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About this episode
General Motors is facing a significant 57% drop in profits, yet their stock surged by over 15% following the announcement. The discussion highlights GM's strategic shift back to internal combustion engines, postponing their electric vehicle transition due to lower-than-expected EV adoption rates. The hosts analyze GM's inventory issues, with new models lingering on dealer lots and older models being pushed for sales. They also touch on the broader market trends, including rising used car inventories and potential buying opportunities for consumers amidst economic challenges.
Today on CarEdge Live, Ray and Zach discuss the latest news from General Motors. Tune in to learn more. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com
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