Slate Auto eyes profitability by 2027, auto loan access drops in April, Mercedes switches up GLC production

Hey everyone. Quick heads up—CDG Recruiting has a dealer client in Wisconsin looking for a top-notch General Manager.

Key details:

• Looking for a candidate with 10+ years of experience as a General Manager (plus, a strong track record).

• The location is a Toyota dealership which is part of a top 10 U.S. dealer group.

• Wisconsin operators preferred, but can make out-of-state work too.

If you’re interested in this opportunity, email Steven or click here to inquire.

— CDG

Welcome to the Daily Dealer a concise rundown of the most important automotive industry headlines that matter to car dealers, automakers, and industry insiders.

New car transaction prices just saw their biggest monthly jump in 5 years:

In April alone, prices rose 2.5% MoM, which pushed the average to $48,699.

Basically, ever since President Trump announced auto tariffs 47 days ago, pricing pressure has been building.

Buyers rushed in early, trying to get ahead of any sticker shock…

But despite the spike in demand, automakers held firm on MSRPs.

In fact, April incentives dropped to 7.8% of average transaction prices—exactly where analysts expected automakers to pull back first.

(Data source: Kelley Blue Book)

And we all know what happens when new car prices rise…

1. Slate Auto CEO expects company to be profitable by late 2027

Slate Auto has racked up 100K reservations in just two weeks for a no-frills electric pickup that could land in driveways for under $20K after credits.

That’s a direct challenge to an auto industry that’s convinced itself affordable EVs aren’t possible.

CEO Chris Barman says the trick is simple: ditch the bloat. Think crank windows, no screens, and a modular interior designed for add-ons, not markups.

The kicker: This bare-bones play is already generating blockbuster demand—and could force bigger players to rethink what “value” really means.

(Go deeper: 4 min. read)

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2. Fewer subprime borrowers got approved for auto loans in April

Auto credit access dipped in April (down 0.7% vs March) as lenders eased off subprime approvals, stretched more loans to 72+ months, and saw negative equity inch higher.

Drilling deeper: Captive lenders tightened the most, especially on new car deals, while independents held steady.

Still, credit access remains 0.7% higher than this time last year—proof that the floor is holding even as the edges get softer.

Bottom line: As pricing pressure builds, lenders aren’t retreating—but they are recalibrating, with a sharper eye on risk.

(Go deeper: 2 min. read)

Missed yesterday’s edition of Daily Dealer Live?

China trade breakthrough, Nissan job cuts, and more

• Brian Benstock, Partner GM of Paragon Honda

• Curtis Biggs, General Manager of NewRoads Mazda

• Alex Lawrence, CEO of EV Auto

3. Mercedes-Benz confirms GLC SUV will be built in Alabama starting in 2027

Mercedes-Benz just confirmed the GLC SUV is headed to Alabama.

After months of speculation, the automaker confirmed it’ll start building GLCs at its Tuscaloosa plant in 2027, aiming squarely at tariff relief.

The GLC already accounts for 1 in 5 Mercedes sales in the U.S., and demand keeps climbing.

Big picture: Building it stateside helps the brand protect both margins and supply. And in a volatile market, it's a smart play to stay ahead of the pressure.

(Go deeper: 2 min. read)

Thanks for reading everyone.

— CDG

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