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The first repeat guest on Auto Collabs.

Of course we mean the one and only Rick Ricart, President and Chief Vision Officer of Ricart Automotive Group. Every time we get the chance to talk with Rick, the conversation is packed with insights, and today is no different. We touch on the challenges of the EV market, negative equity woes, trends in the showroom, and the all-important power of training. 

Key takeaways from this episode:

1️⃣ EV Conundrum: Navigating the EV market is akin to driving on a winding road. The team explores the complex dynamics of infrastructure, communication patterns, and regional variations, making it difficult to predict the industry's direction. The hype surrounding EVs has outpaced the actual market demand, leading to a mismatch between expectations and reality.

2️⃣ Thrill of the Drive: The crew delves into the allure of high-performance vehicles and the passion of die-hard Harley-Davidson riders. They discuss the reluctance of some enthusiasts to trade their roaring engines for silent EVs. The joy of shifting gears, feeling the power, and embracing the traditional driving experience is an integral part of their automotive lifestyle.

3️⃣ Negative Equity Drag Race: Negative equity emerges as a major challenge in the auto industry. With soaring vehicle prices and longer loan terms, customers find themselves trapped in a race against negative equity. The team emphasizes the importance of education and awareness in addressing this issue head-on.

Key Moments:

📕 Intro (0:00) with Paul J Daly, Kyle Mountsier and Michael Cirillo.

📕 The Inventory Balancing Act (7:24): Rick Ricart shares the struggles of aligning market demand with current inventory. The team discusses the contrast between states like California, Florida, and Texas, where EVs thrive, and other regions where the market is yet to catch up.

📕 The Hype vs. Hope Showdown (09:55): The team delves into the hype surrounding EVs and its impact on the industry. They examine the influence of stock market excitement and the rise of Tesla, emphasizing the importance of separating hype from reality.

📕 Affordability Speed Bumps (21:21): The team addresses the affordability challenge faced by customers in today's automotive landscape. They highlight the rising negative equity rates and the impact of high vehicle prices on monthly payments.

Connect with Rick Ricart on LinkedIn - https://www.linkedin.com/in/rickricart/

Learn more about Ricart Automotive - https://www.ricart.com/

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