{"version":"1.0.0","episode":{"title":"What Happens to the Car Market If There's a Recession? | Episode 1006","url":"http://getcarcurious.com/episodes/what-happens-to-the-car-market-if-there-s-a-recession-episode-1006","audioUrl":"https://pdrl.fm/3359a6/pscrb.fm/rss/p/mgln.ai/e/1385/injector.simplecastaudio.com/14b42e71-1f9c-41b2-944f-bc8f2b3a3cb9/episodes/cab178b7-1ba7-4c61-9a05-38f713742094/audio/128/default.mp3?aid=rss_feed&awCollectionId=14b42e71-1f9c-41b2-944f-bc8f2b3a3cb9&awEpisodeId=cab178b7-1ba7-4c61-9a05-38f713742094&feed=gkrQ6WSC","description":"Today on CarEdge Live, Ray and Zach discuss what happens to the car market if there is a recession. 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":3.2399999999999993,"endTime":12.18,"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":"... Savvy, Toyota says you can have it all, with the Camry, the Corolla, and the Corolla  Cross.","canonicalId":"car:toyota:camry","priority":0.5,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The Toyota Camry is a midsize sedan known for its reliability, comfort, and fuel efficiency. It has been a best-seller in the United States for decades, making it a staple in the automotive market and a popular choice for families and commuters alike.","simplifiedExplanation":"The Toyota Camry is a popular car that many people choose because it's comfortable and doesn't break down often. It's a good option for anyone looking for a reliable vehicle to get them from place to place.","imageAttribution":"S5A-0043 (CC BY 2.0)"}},{"startTime":3.2399999999999993,"endTime":12.18,"type":"car","title":"Toyota Corolla","url":"/cars/toyota/corolla","image":"https://upload.wikimedia.org/wikipedia/commons/c/c6/1969_Toyota_Corolla_1200.jpg","quote":"...ota says you can have it all, with the Camry, the Corolla, and the Corolla  Cross.","canonicalId":"car:toyota:corolla","priority":0.5,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The Toyota Corolla is a compact car that has gained a reputation for its affordability, fuel efficiency, and dependability. It is one of the best-selling cars in the world, appealing to a wide range of drivers, from first-time car buyers to those seeking a practical daily driver.","simplifiedExplanation":"The Toyota Corolla is a small car that many people like because it's easy to drive and saves money on gas. It's a great choice for anyone who wants a reliable vehicle without spending too much.","imageAttribution":"TTTNIS (CC0)"}},{"startTime":444.6,"endTime":448.1,"type":"concept","title":"used car sales","url":"/glossary/used-car-sales","quote":"Was it also on the used car side that significant or was it more just on the new car side that you saw the impact?","canonicalId":"concept:used-car-sales","priority":0.5,"confidence":0.8,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Used car sales refer to the market for pre-owned vehicles, which can be significantly affected by economic conditions. During economic downturns, consumers often opt for used cars instead of new ones due to lower prices and financial constraints.","simplifiedExplanation":"Used car sales are when people buy and sell cars that have been owned by someone else before. These sales can change a lot depending on how the economy is doing."}},{"startTime":450.9,"endTime":458.1,"type":"concept","title":"great recession","url":"/glossary/great-recession","quote":"It was the great recession, people were scared to death, people weren't spending money, banks made it more difficult to qualify for loans.","canonicalId":"concept:great-recession","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The Great Recession refers to the severe worldwide economic crisis that occurred from 2007 to 2009. It significantly impacted various sectors, including the automotive industry, leading to a drastic decline in both new and used car sales as consumers faced financial uncertainty.","simplifiedExplanation":"The Great Recession was a major economic downturn that happened from 2007 to 2009. It caused many people to lose their jobs and made it hard for them to buy things, including cars."}},{"startTime":458.1,"endTime":461.5,"type":"term","title":"qualify for loans","url":"/glossary/qualify-for-loans","quote":"...banks made it more difficult to qualify for loans.","canonicalId":"term:qualify-for-loans","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Qualifying for loans means meeting the necessary criteria set by banks or lenders to borrow money. During the Great Recession, stricter lending standards made it harder for many people to secure loans for purchasing cars.","simplifiedExplanation":"Qualifying for loans means being approved by a bank to borrow money. During tough economic times, banks make it harder for people to get loans, which affects car buying."}},{"startTime":869.8,"endTime":871.5,"type":"brand","title":"Volkswagen","url":"/glossary/volkswagen","quote":"We talked about Volkswagen the other day. They've struggled with their EV investments for another.","canonicalId":"brand:volkswagen","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Volkswagen is a German automotive manufacturer known for producing a wide range of vehicles, including the iconic Beetle and the Golf. The company has been making significant investments in electric vehicles (EVs) as part of its strategy to transition to sustainable mobility.","simplifiedExplanation":"Volkswagen is a car company from Germany that makes many popular cars. They are working on electric cars to help the environment."}},{"startTime":879.9,"endTime":883.5,"type":"concept","title":"buyer's market","url":"/glossary/buyer-s-market","quote":"could lead to a significant buyer's market, because they're just going to be so desperate to find people who are willing to buy these things.","canonicalId":"concept:buyer-s-market","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"A buyer's market occurs when there are more goods available for sale than there are buyers, leading to lower prices and better deals for consumers. This can happen during economic downturns or when specific industries, like automotive, face challenges.","simplifiedExplanation":"A buyer's market is when there are lots of cars for sale but not many people wanting to buy them. This usually means prices go down, and buyers can get better deals."}},{"startTime":1040.09,"endTime":1044.05,"type":"car","title":"Toyota Tacoma","url":"/cars/toyota/tacoma","image":"https://upload.wikimedia.org/wikipedia/commons/c/ca/Second_Gen_Toyota_Tacoma_on_Snowy_Mountain_-_2019.jpg","quote":"Dear Unstoppable, the Toyota Tacoma is raring to go. With more muscle and more metal, this legendary beast is styled for the wild and built for the bold.","canonicalId":"car:toyota:tacoma","priority":0.5,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The Toyota Tacoma is a midsize pickup truck known for its off-road capabilities and durability. It is popular among those who need a versatile vehicle for both work and recreational purposes.","simplifiedExplanation":"The Toyota Tacoma is a type of pickup truck that is strong and can handle rough terrain. It's great for people who need a reliable vehicle for work or outdoor activities.","imageAttribution":"Noah Wulf (CC BY-SA 4.0)"}},{"startTime":1049.4,"endTime":1055.3,"type":"term","title":"horsepower","url":"/glossary/horsepower","quote":"An available i-Force Max hybrid powertrain belts out up to 326 horsepower. Add a truckload of attitude, and you'll leave less arrivals in the dust.","canonicalId":"term:horsepower","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Horsepower is a unit of measurement that indicates the power output of an engine. In automotive terms, higher horsepower generally means better acceleration and performance.","simplifiedExplanation":"Horsepower is a way to measure how powerful an engine is. More horsepower usually means the car can go faster and accelerate better."}},{"startTime":1137.0,"endTime":1141.6,"type":"term","title":"leasing","url":"/glossary/leasing","quote":"Does leasing get even more popular in a recession? No, I don't think so. I wasn't there the month they sold 18 cars, but my guess is that the percentage that leased them wasn't any greater than in any other month.","canonicalId":"term:leasing","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Leasing is a method of financing a vehicle where the customer pays for the use of the car over a specified period, typically 2-3 years, rather than purchasing it outright. At the end of the lease term, the customer usually has the option to buy the vehicle or return it.","simplifiedExplanation":"Leasing means you pay to use a car for a certain time instead of buying it. At the end of the lease, you can either buy the car or give it back."}},{"startTime":1174.6,"endTime":1177.1,"type":"term","title":"leased incentives","url":"/glossary/leased-incentives","quote":"But leases obviously get marketed at a specific payment trying to get to that, which I think is at the root of Justin's question. Do people become more payment shoppers and do manufacturers provide more leased incentives?","canonicalId":"term:leased-incentives","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Leased incentives are promotional offers provided by manufacturers to encourage customers to lease vehicles. These can include lower monthly payments, reduced down payments, or special financing rates to make leasing more attractive.","simplifiedExplanation":"Leased incentives are deals that car companies offer to make leasing a car cheaper or more appealing. This can mean lower monthly payments or less money needed upfront."}},{"startTime":1291.3,"endTime":1292.3,"type":"brand","title":"Ford","url":"/glossary/ford","quote":"to allow GM and Ford to create their own banks. Have you seen this, Ted?","canonicalId":"brand:ford","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Ford is an American automotive manufacturer known for producing a wide range of vehicles, including trucks, SUVs, and cars.","simplifiedExplanation":"Ford is a well-known car company that makes many types of vehicles, like trucks and cars."}},{"startTime":1300.8,"endTime":1301.8,"type":"brand","title":"General Motors","url":"/glossary/general-motors","quote":"Ford and General Motors got approval from the federal government to actually have their own bank charter.","canonicalId":"brand:general-motors","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"General Motors (GM) is a major American automotive corporation that produces vehicles under various brands, including Chevrolet, Buick, GMC, and Cadillac.","simplifiedExplanation":"General Motors, or GM, is a big car company in the U.S. that makes many different brands of cars and trucks."}},{"startTime":1321.0,"endTime":1321.5,"type":"brand","title":"Nissan","url":"/glossary/nissan","quote":"Many other automakers, Nissan's, Delantis, are trying to follow suit...","canonicalId":"brand:nissan","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Nissan is a Japanese automotive manufacturer known for producing a variety of vehicles, including sedans, SUVs, and electric cars like the Nissan Leaf.","simplifiedExplanation":"Nissan is a car company from Japan that makes many different types of vehicles, including electric cars."}},{"startTime":1321.5,"endTime":1322.0,"type":"brand","title":"Stellantis","url":"/glossary/stellantis","quote":"Many other automakers, Nissan's, Delantis, are trying to follow suit...","canonicalId":"brand:stellantis","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Stellantis is a multinational automotive manufacturing corporation formed from the merger of Fiat Chrysler Automobiles and PSA Group, producing various brands like Jeep, Dodge, and Peugeot.","simplifiedExplanation":"Stellantis is a large car company that makes several different brands of cars, including Jeep and Dodge."}},{"startTime":1332.0,"endTime":1333.0,"type":"concept","title":"captive lenders","url":"/glossary/captive-lenders","quote":"...more aggressive financing offers from the captive lenders from GM and Ford because now they actually have their...","canonicalId":"concept:captive-lenders","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Captive lenders are financial institutions owned by a parent company, typically an automaker, that provide financing options to customers for purchasing vehicles.","simplifiedExplanation":"Captive lenders are banks that are part of a car company, helping customers get loans to buy cars from that company."}},{"startTime":1684.69,"endTime":1691.25,"type":"car","title":"Toyota Prius","url":"/cars/toyota/prius","image":"https://upload.wikimedia.org/wikipedia/commons/7/74/2014-2021_Toyota_Prius_%CE%B1_Touring_Selection.jpg","quote":"...this is a 2026 Toyota Prius that for the past three weeks yes going back and forth with a Toyota dealer...","canonicalId":"car:toyota:prius","priority":0.5,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The 2026 Toyota Prius is a hybrid vehicle known for its fuel efficiency and eco-friendly design. It features a combination of a gasoline engine and electric motors to optimize fuel consumption and reduce emissions.","simplifiedExplanation":"The 2026 Toyota Prius is a car that uses both gas and electricity to drive. It's designed to save fuel and be better for the environment compared to regular cars.","imageAttribution":"TTTNIS (CC0)"}},{"startTime":1691.2,"endTime":1697.2,"type":"term","title":"negotiation","url":"/glossary/negotiation","quote":"...the reason why I want to bring this up is because I want to show you what can happen at the beginning middle and end of a car deal and negotiation...","canonicalId":"term:negotiation","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Negotiation in car buying refers to the process of discussing and agreeing on the price and terms of the sale between the buyer and the dealer. It's a critical part of getting the best deal.","simplifiedExplanation":"Negotiation is when you talk to the car dealer about the price to try to get a better deal. It's about agreeing on how much you will pay for the car."}},{"startTime":1701.9,"endTime":1709.2,"type":"term","title":"plug-in hybrid","url":"/glossary/plug-in-hybrid","quote":"...this 2026 Toyota Prius plug-in hybrid $43,410 ultimately dad we were able to get the dealership...","canonicalId":"term:plug-in-hybrid","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"A plug-in hybrid is a type of vehicle that can be charged from an external power source and also uses a gasoline engine. This allows for extended electric-only driving range compared to standard hybrids.","simplifiedExplanation":"A plug-in hybrid is a car that can run on electricity and gas. You can charge it by plugging it in, which helps it drive longer on electricity alone before switching to gas."}},{"startTime":1701.9,"endTime":1709.2,"type":"term","title":"the first pencil","url":"/glossary/the-first-pencil","quote":"...the first pencil on this 2026 Toyota Prius plug-in hybrid $43,410 ultimately dad we were able to get the dealership...","canonicalId":"term:the-first-pencil","priority":0.5,"confidence":0.8,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"In car sales, 'the first pencil' refers to the initial offer or price presented by the dealership to the buyer. It's often the starting point for negotiations.","simplifiedExplanation":"'The first pencil' is the first price a car dealer gives you when you're trying to buy a car. It's usually just a starting point for talking about the price."}},{"startTime":2023.7,"endTime":2024.0,"type":"car","title":"Toyota Corolla Cross","url":"/cars/toyota/corolla-cross","image":"https://upload.wikimedia.org/wikipedia/commons/0/0c/2022_Toyota_Corolla_Cross_L_FWD%2C_Front_Left%2C_11-21-2021.jpg","quote":"...and the corolla cross...","canonicalId":"car:toyota:corolla-cross","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The Toyota Corolla Cross is a compact SUV that combines the practicality of a crossover with the efficiency of the Corolla. It offers more space and versatility compared to the standard Corolla.","simplifiedExplanation":"The Toyota Corolla Cross is a new type of car that is like a small SUV. It has more room than a regular Corolla and is good for people who need extra space for passengers or cargo.","imageAttribution":"Elise240SX (CC BY-SA 4.0)"}}],"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/what-happens-to-the-car-market-if-there-s-a-recession-episode-1006/transcript.vtt","type":"text/vtt"}]}