Ram REVs Up EV Trucks, Tesla APR Incentives, Home Depot Overcharging Lawsuit

Unknown: 0:00

What is going on? Kyle's still somewhere else. One day, we'll both be back in our offices at the same time, September 18. It's Tuesday. We're talking about RAM we're talking about Tesla, and we're talking about Home Depot. Home Depot, the people really weren't who I is and who I be.

‍Paul J Daly: 0:16

They stopped and stayed when they see me. Home Depot. Where are you at today? You had a coffee shop. At a coffee shop, I bet it's a good one.

Kyle Mountsier: 0:25

No, it's like the Denny's of Toronto.

Paul J Daly: 0:28

Oh my gosh.

Kyle Mountsier: 0:29

I mean, okay.

Paul J Daly: 0:30

I mean the Denny's of Toronto still seems like the better than the Denny's of you know, like New York,

Kyle Mountsier: 0:36

it is. It's pretty decent. It'll work. It'll work

Paul J Daly: 0:39

the Denny's of Toronto. By the way, we were, when we were at the wilgadera event on Monday. They were, how many there are no less than six amazing coffee shops represented with a full espresso setup. And Kyle was in his heyday, and I've never drank so much espresso in my life. It was amazing. It was stellar. I might bring some of that magic to a soda con. I

Kyle Mountsier: 1:00

think we have to bring that magic. I've already got, like, contact information for three or four people, so let's go.

Paul J Daly: 1:05

He was going around collecting cards. So you're going to probably get a little bit if you didn't know, asotu con is in May. But we have a pre sign up list going right now. No commitment. It's just so you will be the first to know to May the week after Mother's Day. Circle your calendar, 13th through the 15th. That week ish. Circle the week. Block it off. Make sure you're going to be there. Go to a soda con com. Sign up on the pre sign up list, so that you'll be the first to know. As soon as we start dropping the little tidbits and drips in it, it's about to start. Actually, it's getting pretty cool. It's

Kyle Mountsier: 1:33

going to get real, real soon. So alright, alright,

Paul J Daly: 1:36

let we gotta get into some news. We both, we're both hustling somewhere today. I'm going to speak to a bunch of GMs. You're going to go back and do your thing and in I don't even you're not that far from me right now. No, I mean, we're going to drive. We're easy driving distance. Actually, I don't know why we didn't think of this. You're like, two and a half hours away. I'll meet you up with Matt last year in Buffalo. It's, oh, that would be so good. Should we go back to the wing place? But let's talk a little about little news, Ram is preparing to make a strong entrance into the EV market, with the 1500 rev set to arrive early 2025 followed by the range extended 1500 RAM charger. RAM is looking to blend this innovation and practicality, basically the first EV pickup. The Rev is offering a standard 168 kilowatt battery with up to 350 miles of range and an optional battery pack, which would put the truck around 500 miles of range. That's pretty dope. The 1500 set for 2025 it's got a three the this is the RAM charger, the one with the engine and the generator. It's got a 3.3 point six liter v6 looking at 663 horsepower. That's some power, good. And 615 foot pounds of torque, towing capacity, 14,000 pounds. You can tell, a big heavy thing, and they're looking, you know, this future heavy duty pickup market combined with EVs, like they're doing this whole thing. Bob Broder, Broder Dorff, former RAM Global Operations Officer now Jeep North America head said, quote, everyone can throw down a big range, etc. Okay, do it with towing and payload. That's what we're trying to drive home. So they're trying really going after that, like, heavy duty commercial, you have a truck, because you need a truck group of people. Yeah,

Kyle Mountsier: 3:14

I think this is, like, this is a shot across the bow for, you know, for GM, saying, hey, look, we are. We're doing something different in the EV market, which is what I think is necessary from like, a valuation perspective. It's necessary from a consumer, just understanding of your brand, what you're after. And so I think you know, coming in and saying, Yeah, we're still a truck company, and we're going to make EVs like, we're a truck company.

Paul J Daly: 3:41

It's a sharp looking truck, if you haven't seen it. I love the fact that it definitely has the distinction of being an EV that's one of the things I didn't really like about the f1 50 lightning. It just looked like an f1 50 with a different front end. So yeah, I think that. I think they've done a good job, and I'm excited, excited to see what RAM brings to the market. Then we'll have the big three back in the game with the EVS

Kyle Mountsier: 4:00

back in the game.

Paul J Daly: 4:02

Speaking of back in the game, segway, here comes some discount game. Talk a little bit about affordability yesterday, but known for their end of getting to be known for their end of quarter discounts, Tesla has rolled out a significant financial incentive, financing incentive to try to, like, get the sales up at the end of the quarter. Basically now offering zero down payment and a 2.49 APR and model threes and model wise rates dropping to 1.99 with just a small down payment, basically running through september 30, obviously coinciding with end of month sales, they've reintroduced a referral program, $1,000 if you refer somebody to buy a new vehicle. So now like every Tesla vehicle has it instead of attached to it, except for the cyber truck, and the analyst obviously saying it's going to boost the sales, but it's also answering a big problem in the market, like we talked about yesterday, which is affordability.

Kyle Mountsier: 4:53

Yeah, well, and I think you know from this is what's blowing my mind. These are available at 72 months. Yes, right? They're literally pulling the OEM card that the OEMs are not willing to pull at this point, which is, hey, look, we have financing incentives, and they are deep, and they are recognizable. Get those payments low, right? And even if the pay, you know, what's weird is, even if the payments aren't low, it's like you get to go tell your friends you got a low interest rate and a cool car, right?

Paul J Daly: 5:20

I never thought about that. The brag, the brag power on the low interest rate is real, like, I got 1.99

Kyle Mountsier: 5:27

That's exactly right, yep, yeah. How many people, like, when everybody was remortgaging were, like, I just remortgaged and got a 2.75% interest rate, you know? Like, it's just a thing, right? I

Paul J Daly: 5:36

still brag about the 2.25 that I got today, of course, because now it's a thing. I literally have my mortgage company send me a paper statement. And maybe, I don't know, think what you will, about the paper versus e statements. I just like looking at it every month. It just knows, literally, I open it every month, and I look at the interest rate number, and I look at the majority of my, you know, like the big chunk of my payment that went towards principal, and I just feel great

Kyle Mountsier: 6:01

about it, like I'm making more on my savings account than what I'm spending.

Paul J Daly: 6:05

Borrow home equity, put it into high yields, like, I get home equity now too late. Should have did it back then. It's so silly. Yeah, there's a thing about that. Speaking of us, not so silly. But speaking of building, I don't know, there's no segway there. Wanna let it go? Let you go home depot.

Kyle Mountsier: 6:21

Let's do it. Home Depot settling a lawsuit for almost $2 million after being accused of overcharging customers due to scanner violations in California, where advertised shelf prices were not the same when scanned at the register, the retailer denies wrongdoing, but negotiated a settlement of $1.7 million in fines and a little over $200,000 in restitutions. Home Depot must implement a price accuracy program to ensure self prices match those at the register with a ban on increasing prices during weekends. They're also going to provide a bunch of employee training and internal audits. District Attorney George caskin said, when companies engage in deceptive practices, they not only cheat consumers, but also gain an unjust advantage over businesses that operate ethically and transparency. I feel like you got something to say about this? This? Oh, I

Paul J Daly: 7:13

mean, this is the kind of thing where, when we look at other industries like it's easy to look into internally and say, people are always against the auto industry. They're always looking for some of the scam them, but that actually, this is a retail movement across the board, and we see with Home Depot saying, people saying, like, it's not okay. And, you know, organizations looking at this closely, and I'm sure a lot of these prices weren't very I mean, if it's Home Depot, think of the amount of track transactions they have a day, and then think of this total amount of, like, $1.7 million like, it's actually not that much. It's Home Depot. It's not a lot, so, but we're talking about probably, like, maybe not even dollars in difference in the scan price and what they saw on the shelf. And so there's just a heightened level of attention on this type of practice, which makes, should make us dealers auto industry on even higher alert, right? Because if Home Depot is getting this level scrutiny for that little bit of difference, why would we think we're any different? Exactly.

Kyle Mountsier: 8:07

Yeah, I you know just hey, heads up, like the consumer is after the retailer to make sure that the retailer is following the best practices for the consumer. And so just get on the front side of that and everything that you can do, yeah, and

Paul J Daly: 8:22

the other side of that is, like, it never hurts to have a great brand, because people want you to win, right? Absolutely, that's the bottom line. Like the love people more than you love cars. When people know you're for them, they're much less likely to turn the screws over pennies or dollars or 10s of dollars. So whatever it is you're doing out there today, we're around the midpoint of the month, care about the people, care about the cars, care about what you're doing. Care about somebody else, and it will come back you.

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