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Episode #1173: Scott Painter steers TrueCar back to private ownership, CarGurus says buyers are going older to stay on budget, and freelancers navigate the double-edged sword of AI—faster work, smaller paychecks, and a whole lot of “good enough.”

Show Notes with links:

• TrueCar’s founder and former CEO, Scott Painter, is back. Nearly a decade after his controversial exit, Painter is leading a $227 million investor group to take the publicly traded company private — a bold move aimed at restoring TrueCar’s dealer relationships and market relevance.
  • Painter’s syndicate, Fair Holdings Inc., includes investors from dealer, data, fintech, and mobility sectors.
  • He’ll return as CEO once the all-cash transaction closes in late 2025, pending shareholder and regulatory approval.
  • The deal follows a year-long strategic review by TrueCar’s board, seeking a sustainable path forward after layoffs and leadership turnover.
  • TrueCar’s stock surged 62% on the announcement, closing at $2.40.
  • Painter emphasized collaboration: “Partnerships and brand alignment are central to creating value for both dealers and customers.”
• CarGurus’ Q3 2025 Quarterly Review shows that when it comes to cars, “old is in.” Despite economic pressure, auto sales are holding steady — but buyers are opting for older, cheaper vehicles to keep monthly payments manageable.
  • Used vehicles under $30K drove 72% of used retail growth over the past year. Nearly half of listings in that range were 7+ years old, averaging $13,600.
  • Director Kevin Roberts says shoppers are split between value-seekers buying older cars and wealthier consumers driving luxury growth.
  • Dealers may need to lean on older inventory and fixed ops to meet demand and keep aging cars running.
  • California, Florida, Texas, and Virginia lead the nation in used cars under $20K, each with 30% or more of listings.
  • “Buyers are increasingly accepting six-figure-mile cars to keep payments within reach,” Roberts noted.
• AI is reshaping the freelance economy, creating both opportunity and uncertainty for side hustlers. While tools like ChatGPT help freelancers work faster, they’re also undercutting pay, originality, and client perception of value.
  • Freelancers say AI boosts efficiency but drives down earnings—writing jobs fell 2%, and income dropped 5% on Upwork after ChatGPT’s release.
  • AI lowers the barrier to entry, flooding the market with cheaper “good enough” work that makes it harder for top-tier talent to stand out.
  • Clients increasingly expect AI-level output for less, with some even replacing human contractors with automation tools.
  • “High quality doesn’t really protect freelancers,” said Washington University professor Xiang Hui, noting that AI hits experienced workers hardest.

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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