New Prices Steady, Used Prices Down, Wet Towel Teslas, Promo Codes For All

Paul J Daly: 0:00

Hey what's up? It's Friday. It's the last Friday in July. Can you believe that? Today we're talking about new car prices used car prices what's happened in their wet towels on Tesla chargers and the abundance? You know this already have promo codes in your email from retailers about why that is this year on

‍Kyle Mountsier: 0:26

promo codes. It's unbelievable. Actually,

Paul J Daly: 0:29

I know. I know. It's like, I will say, I always wanted to like start commentating on the last story in the intro, but I'm not going to

Kyle Mountsier: 0:37

know cuz I'd fun story, you know, that isn't pretending related to auto. So we have like our own human opinions, you know,

Paul J Daly: 0:47

write our own just like retail people, people opinions. Oh, what's going on? We talked about yesterday, we have a soda wedge webinar, a quick shot 2030 minutes with our friend James gather of Mosaic coming in, in just a week and a half from now. We're talking about the cars rule. And you've never heard the cars will be as fun as it's going to be at this webinar. So go to ASOTU.com and sign up for the webinar. Just join us in person. If you can't, if you can't join us in person, you'll get the recording and be part of the conversation. Anyway. Always good time. Also, go to ASOTU con.com. And check out the new design aesthetic first. So to kind of 2025 it's going to be unbelievable. Ghost put your name in the mailbox, because that's going to be like a little super secret first to know, list that we have some stuff going for as we make more announcements. I know. It's in May, it's two months away. But either way,

Kyle Mountsier: 1:40

you're gonna want to get on it quick because there's going to be good stuff coming along the way less

Paul J Daly: 1:45

it's less than 10 months away.

Kyle Mountsier: 1:46

Oh no, don't say it, Paul.

Paul J Daly: 1:50

It's night and change. It's nice to James. Oh, we're doing pretty good. Yeah, so just going back and forth with Kyle. Yes, Kyle's video is frozen for me and for Nathan. I don't know your audio. Sounds fantastic, though. Well, no, good.

Kyle Mountsier: 2:05

I'm glad to hear it. Because,

Paul J Daly: 2:07

you know, this is what happens when you have a desk setup that's more complicated. Then other side can work is more complicated than you know like Iron Man's lair. Now that you have all kinds of things going on. You got a new audio interface in the morning. It's it should have been plug and play. It should have been plug and play your video looks great now.

Kyle Mountsier: 2:27

Oh, thank you. So you could have said I looked great. You know,

Paul J Daly: 2:32

the video, the video quality looks great. It's like oh, it's like what do you say to a picture when someone's like, hey, what do you think about this picture? You're like, oh, the lighting looks so good. Lighting, the lighting your photographer? About that light brush that angle? Yeah. How about that, like very talented photographer. How do they make it look like that? Let's talk about some news. Our friends over at cars Congress sent us a little early peek at this monthly Insights report that they're releasing. And let's just shout out our friend Julie Gara, who used to be with NADA is now with cars commerce, congratulations, a little claps. Juliet's been been a fantastic partner for a soda more than cars for a lot of years. And it's fun to see her working with some other friends over at cars commerce. So she shot us this and has some great little insights. And so we thought we talked about it on this morning show. So basically, this is a monthly report that talks about their internal data, they obviously have a lot of access to first party data and insights because of the number of users on the platform. So basically the first half of the year is going to wrap up some larger insights revealing despite increased inventory prices are still holding steady on new cars. While use cars is slightly different story we've been talking around some topics like this anyway. Average new car price was down 1.2% to 49,106 We're back under 50 grand demand was demand was down almost 17% That's in searches and supply was up 13.4% So if you do the math there like the demand was down less or more than the supply. Even Yeah, exactly. But prices as of right now are still holding steady be interesting to see what the second half of the year holds obviously it's going to differ by manufacturer on the use side average prices down overall 5.4% on the year and they're down to 28,008 15. So that's not bad either. Also,

Kyle Mountsier: 4:24

like you know you could get close to $30,000 with taxes and fees on the average price. Or you

Paul J Daly: 4:31

could demand also down on use cars about five and a half percent supply was down almost 4% There were some really for budget shoppers, total vehicles priced under $30,000. Grew 57% That's new vehicles.

Kyle Mountsier: 4:45

I love how it wait real quick before you keep going. I love how like value shopping is now under $30,000 raising over 20,000 Because there's no new vehicles left under 20,000. It's like value shopping for new cars. minimum$460 A month payment, right?

Paul J Daly: 5:04

I know what's it's really a great point. The top 10 searched vehicles. Well, they did say that the basically the number was the searches. Oh, hold on, I gotta get the stat right because it's not in the notes, but I know I saw it somewhere and I want to make sure I get it right. Oh, I'm gonna find it. Oh yeah, new vehicle inventory under 30,000 back to that point is the fastest growing price category. So I think that's a little silver lining right there that like that category, maybe 30,000 And it's catching up pushing toward that. Yeah, I feel like that's one of the biggest takeaways from the data of the top 10 Search vehicles get this. It's really a United States game right now. Ford F 150 Silverado 1500 Ram 1500 GMC Sierra 1500 Everybody wants to trucks man or Huck's Ford Bronco Chevy Traverse Ford Mustang Toyota Tacoma Toyota like an import at number eight Jeep Wrangler number nine Chevy Corvette So Tacoma is the only import that made

Kyle Mountsier: 6:08

this import that's wild to me that kind of blows my mind even just from like a volume perspective in the US right? Wow President Yeah,

Paul J Daly: 6:18

I don't know just like these

Kyle Mountsier: 6:19

are fun fun things they report but if you're selling ford f 150s or Chevy Silverados you got something to talk about you know sell knows Ratos sell sell never know Rado?

Paul J Daly: 6:31

Hey we're gonna be actually we're gonna be at Mohawk Chevrolet in like a week. A little over a week right a week from Monday. So if you haven't seen

Kyle Mountsier: 6:39

Yeah, if you haven't got a tick tock and Instagram to go check out what Mohawk Chevy is doing. Do it

Paul J Daly: 6:46

do it they were in USA Today this week. So we're gonna be out there or we're actually going to be doing some more than cars shooting and got some fun surprises for you coming so you haven't seen any of that go to more than cars.tv but you got to think coming Yeah. Oh right and speaking about you might have a thing coming guys, I'm picture this one when we pick this story today. All right, Tesla is now cautioning owners against using a method to speed up charging that involves putting a soaking wet towel over the end of the charger right where it goes into the vehicle. What could possibly go wrong? So Tesla drivers have been placing wet towels on supercharger connectors claiming it increases charge rates X user so Twitter user out of spec reported an increase get this from 58 kilowatt speed to 119 kilowatt speed while using this tricks, almost double Tesla's response notably, placing a wet cloth on the supercharger cable handle does not increase charging rates and interferes with temperature monitors creating risk of overheating or damage please refrain from doing so sewer systems can run correctly and true charging issues can be detected by our systems. Yeah, I mean that wasn't the first thing

Kyle Mountsier: 8:07

that I thought of the first thing I thought of is a lamp and a little bit of wet next to a little bit of electricity you know

Paul J Daly: 8:13

I guess it's direct current so it's not like alternate occurring so I mean, like boats and things you know, but still, I the reason is right what its gonna think it can send more power through and it could give the car more than it can take at the moment causing like the batteries

Kyle Mountsier: 8:30

or the actual supercharger to overheat like how much current is flowing through it has regulators as well. The cable has regulators like yeah, trying to fool it at the point of like connection really scary. People are crazy out there in the social media world life hacks, life hacks speaking a life hacks Oh,

Unknown: 8:50

segway

Kyle Mountsier: 8:55

company now, simply code surveyed, did a survey and found that retailers issued an average of nine unique promo codes. They got sales going all the time, fam, in the first six months of the year, marking a 31% year over year increase, reflecting a growing trend on among retailers and consumers alike. Alright, here's the here's the stats, the average discount rose to 17.6%, up from 17.17% translating to an average savings savings of $33 per promo code up from $27. Here's the most interesting one of households that make 175 to 199 89% of them have used promo codes in the first half of the year, compared to 53% of households earning 10,000 to 25,046% of 18 to 29 year olds are motivated to shop by seeing a promo code versus 36% of those aged 30 to 44 and 30% of those people aged 40 to 60. So Definitely, the younger you are, the more interested you are in shopping because you saw a promo code. The most use promo combs include off, save, welcome and free. It's like automotive kinda has been doing this a hot minute. So,

Paul J Daly: 10:22

I mean, I think there's an element of number one in my inbox and any retailer that I've been connected with, period, who I bought, like clothing from or little electronic items. Now I feel like and, and this, this story kind of highlighted for me, where I feel like there's never not a sale to the point well, I will never buy something in full price from these places. Right? You feel that?

Kyle Mountsier: 10:51

I do, too. Yeah, like you almost Wait, you just like, if you don't have to wait thing, you search for the promo code. If it doesn't exist, you just put it in your shopping cart, delete it and come back a week later, right? It's kind of the way that that's the way I shop. But I think this

Paul J Daly: 11:07

is this is also a really good like finger on the pulse when retail is doing this, like thinking of the auto industry is retail as a whole. If this is happening on like small ticket items, it's just a very clear indicator that, like there's just so much pricing pressure, inflationary pressure, that it's not really dominating the news cycle at all right? There's so many like all of the politics, political things are dominating the news cycle, right, and some like big unrest. But the reality is, like this stuff is happening like throughout the retail industry. So when dealers are feeling it, it's like it, it's not going to get better.

Kyle Mountsier: 11:43

Yeah, it's not just OEMs and dealers having price pressure with rebates and discounts. It's universal at this point, trying to incentivize purchasing behavior, just because of inflation, interest rates, inflation and basic pricing, you know, even just going to the grocery store is more expensive. So I think that's why you see this use of promo codes. I do think that it's interesting that people in higher income households are utilizing promo codes more, I think maybe the incentive the purchase gets more exciting. And because there's maybe some, you know, some cash flow there. Yeah, they're utilizing those promo codes more. So

Paul J Daly: 12:18

it's still like, right, no matter how much money you got, it feels good to jump that feel good to save.

Kyle Mountsier: 12:23

Yeah. So I think that's like a consumer behavior trait that you can look at, you know, from a pricing or even advertising strategy to, to how to incentivize purchasing in higher income bands. So

Paul J Daly: 12:37

we're gonna end the show today, with a little treat. Kyle and I a couple of weeks ago, we're at the beaver Toyota golf tournament, raising a, like a lot of money for charities, cause playing golf, I was riding, Patrick. So we're gonna we're gonna run this this like two three minute vlog. It's a great way to kick into the weekend, and just shows you when dealers get together to serve the communities even in the midst of our abundance and influence. Right? There's a meaningful, significant impact that can happen. So let's roll. Let's roll the vlog and it'll be a lot of fun to end the Friday show. Shut off all of this to help beaver Toyota in Georgia raise over $100,000 for their community. But first, there's a golf tournament. Businesses from all over the county came together today to raise money for these charities.

Unknown: 13:27

$5 counted each group out here

Paul J Daly: 13:29

playing today raised $2,500

Unknown: 13:33

I think they're 30 groups. Why

Paul J Daly: 13:34

did you start this golf tournament?

Patrick Abad: 13:36

This community that we're in allows us to be successful giving back to the community is an important responsibility of a successful business in the community. There's 1050 children who are homeless just in our county, then it hurts my belly to even think about that. So there's an immediate need so we're going to throw that money right back to where they're going to use it.

Kyle Mountsier: 13:52

How do you break your arm?

Patrick Abad: 13:54

I didn't break my arm.

Paul J Daly: 13:55

Each hole is sponsored. That's $18,000 towards charity right there.

Unknown: 14:01

And that's a great year. How did you break your arm?

Patrick Abad: 14:04

I didn't break my leg. You break your arm. I didn't break my arm.

Unknown: 14:08

I didn't break my arm. Hey, how'd you twist your ankle? I broke my arm three time World Masters long drive champion and what are you doing here today? I am out here raising money he's hitting golf balls really really far and people are paying them to do it. Yes.

Kyle Mountsier: 14:24

Holy crap

Unknown: 14:30

Did you break your arm?

Patrick Abad: 14:31

didn't break my arm.

Unknown: 14:32

What is your very favorite part

Paul J Daly: 14:34

of this a lot of things going on.

Patrick Abad: 14:35

My favorite part is a live auction because egos get involved so it's fun to watch right

Paul J Daly: 14:41

1617 Come over here on the side. Here somewhere playing while I'm doing all the work to found him. Areas. Not doing anything. Not even playing golf just standing around. Hey there, buddy. Hey.

Kyle Mountsier: 14:57

Better than you? At least in golf.

Paul J Daly: 14:58

What do you say I take him A community.

Kyle Mountsier: 15:00

That sounds like a terrible idea, but it's amazing. When you think you're gonna hit for your son, get in this car. He's really unsure. I've never seen someone deliberate so much without a caddy that walk, it's like he's done this before he walks up to the shot, misses the ball down, that's the wrong way to put the ball down, lines it up, everybody out clear the fairway. Ladies and gentlemen, Patrick, as you break your ombre,

Paul J Daly: 15:26

I didn't break my arm. After driving around a bit more, we met some people from the charities were contributing towards. So

Unknown: 15:32

we provide community based mentoring programs for us K through 12. In our community, our charity, the place our mission is to assist the people of Forsyth and Dawson county with essential needs and to be self sustaining. And

Paul J Daly: 15:47

finally, it was time to get to the auction. I need everyone to take out your credit card and pass it to your neighbor. And just like

Unknown: 15:54

you always wanted to sell for $20 So that's your shoulder to buy. So the man and the gentleman $100,000 Let's hear it. Let's hear it. Let's hear that

Patrick Abad: 16:11

I didn't break my arm.

Paul J Daly: 16:13

We love it when dealers band together to serve their communities and beaver Toyota just showed that they know how to serve the community today. Today

Patrick Abad: 16:21

we were able to give $120,000 to three amazing local

Kyle Mountsier: 16:25

charities here at Beaver Toyota and really all across the country proving that the automotive industry gives back in ways that so many people don't know about and thanks to Patrick and the beavers for showing the rest of us exactly what it looks like to care for our communities. Well,

Paul J Daly: 16:38

guys got a couple more holes in here so how did you break your arm?

Patrick Abad: 16:45

I didn't break my arm. just broke my collarbone

Paul J Daly: 16:51

All right, that was a great great fun time. Thank you so much, Patrick a bad the beaver family for inviting us out, letting us highlight the great things they're doing. Listen, it's the weekend. You got cars to sell. You got people to serve, go out there and give it

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