Drivers eye auto loan refinancing, major Jeep price cuts, Ford gains market share in Oct.

Hey everyone. Do negotiations in car sales need to end?

Jack Ballinghoff, COO at Ourisman Automotive Group, thinks so —

Today, on the Car Dealership Guy Podcast, I speak with Jack about the next era of automotive retail and the principles that guide his decision-making across 17 dealerships.

You can stream the full episode now on YouTube, Spotify, or Apple.

— CDG

New car incentives are down despite higher prices:

Incentives now average $3,149 — $1,500 less than in 2019.

Surprising?

Yes, considering average car prices are over $10,000 higher than five years ago.

But with supply still 20% below pre-pandemic levels, automakers have kept incentives tempered as supply and demand finds a natural balance.

The big question that remains:

Will automakers roll out last-minute deals to hit year-end sales targets?

(Data source: J.D. Power)

1. Drivers eye relief with possible auto loan refinancing

With another Federal Reserve interest rate cut potentially in the works, millions of drivers paying steep auto loan rates are ready to jump at refinancing opportunities.

According to TransUnion, 76% of borrowers are open to refinancing, with many feeling strained by monthly payments.

But it’s not a one-size-fits-all solution — credit scores and loan timing play a huge role in who actually benefits. For now, it’s a game of patience as borrowers wait for rates to drop further in a meaningful way … (Go deeper: 4 min. read)

2. Ford sees Oct. sales gains backed by trucks, but EVs drop

With a 15% boost over last year, hybrids and trucks are clearly driving growth, while electric vehicles — particularly the F-150 Lightning — struggle to keep pace, dragging EV sales down 8.3%.

The numbers say it all: Hybrid sales soared 39%, and trucks like the F-Series and Maverick posted strong gains.

As the automaker tries to shield itself against further EV losses for the year, it’s doubling down on hybrids — a strategy that seems to align with what buyers want right now … (Go deeper: 2 min. read)

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3. Stellanits leveraging deep discounts to move Jeep inventory

Stellantis is slashing prices on specific Jeep models to help clear out inventory after dealers voiced their discontent over high prices and low incentives.

With markdowns on popular models like the Gladiator, Cherokee, and Wagoneer, the automaker hopes to reignite demand after a tough Q3.

Jeep inventory has been piling up, sitting longer on lots than industry averages, so these discounts could be key to moving metal before the year ends.

The big question: Will these price cuts be enough to make a dent in Stellantis' Q4 results? … (Go deeper: 2 min. read)

• No need for $25K Tesla, says CEO Elon Musk.

• New mobile EV charger promises roadside fast-charging assistance.

• Are electric vehicles (EVs) getting less political?

• Behind General Motors’ design philosophy.

• NHTSA concludes massive Ford investigation over intake valves.

Thanks for reading everyone.

— CDG