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It’s a great Friday to be in the car business as the ASOTU crew braves the trip home from a week of being on the ground with Dealers, OEMS, and Industry Partners at two separate events. Today we’re talking about some service lane trade data, a potential interest rate cut, and the pumpkin spice sign of the times. 

Show Notes with links:

• A new survey reveals that most dealerships aren't leveraging the service drive as a source of quality used vehicles by discussing trade-in options.
  • 60% of mass-market customers weren't asked about their vehicle's trade-in value during their service visit and 61% for luxury customers.
  • Only 24% of mass-market and 23% of luxury customers had trade-in conversations.
  • Daymond John on the three ways you interact with customers: “You can acquire, upsell,  or make them buy more frequently.”

• The Fed is widely expected to cut interest rates soon, but the big question is how much relief will come. 
  • Fed Chair Jerome Powell will address inflation and potential rate cuts in his upcoming speech at Jackson Hole today.
  • The Fed has kept rates high since 2022 to cool inflation, but the market anticipates a rate cut in September, with a good chance for a 25-basis-point cut and a smaller chance of a 50-basis-point cut.
  • Powell remains data-driven, cautioning against cutting rates too soon to avoid reigniting inflation.
  • "This is not what an overheating economy looks like," says Fed's Austan Goolsbee, signaling a shift in economic conditions.

• The ever-divisive Pumpkin Spice Latte is back, arriving earlier than ever this year, as Starbucks released its fall menu yesterday, sparking both joy and outrage.
  • The pumpkin spice latte has been a fall favorite since its debut in 2003, with 20 million sold annually.
  • Social media is buzzing with both excitement and frustration over the early release.
  • A 2022 study shows 55% of online pumpkin spice posts are positive, with 8% negative.

Join Paul J Daly and Kyle Mountsier every morning for the Automotive State of the Union podcast as they connect the dots across car dealerships, retail trends, emerging tech like AI, and cultural shifts—bringing clarity, speed, and people-first insight to automotive leaders navigating a rapidly changing industry.

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