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We’re live in Petersburg VA this morning as we’re shooting the next episode of More Than Cars. Today, we’re talking about the latest Cars Commerce Industry Insights and what it means for supply and demand, how BYD has produced its 10 millionth new energy vehicle, and how this Thanksgiving could be a record for travel.

Show Notes with links:

• The October Cars Commerce Industry Insights Report reveals that new vehicle supply is way up, while demand has only seen a small increase.
  • New-car demand is up only 2%, while new vehicle supply is up a staggering 26.4% YOY, and new-car days live up 37.4%
  • YOY new-EV supply is up a whopping 35%, which makes those production shutdowns make sense
  • Used-car inventory below $20k is the only price category growing YOY, but remains far below stock levels prior to 2021
  • Used EVs receive 5.5x more searches than new EVs. The average list price of a used EV is down -9.1% YOY and searches are up 36.6% YOY
    
    
    
• BYD is marking a major milestone as the first automaker to produce 10 million new energy vehicles (NEVs). The EV leader is riding a wave of growth and expanding globally. Key points include:
  • BYD has reached 10 million NEVs just three years after producing its 1 millionth vehicle
  • October sales hit over 500,000 vehicles, marking the fifth consecutive record month.
  • The company is gaining on global giants, having outsold Nissan and Honda, and is closing in on Ford.
  • Global expansion is in full swing, with new plants in Thailand, Hungary, Brazil, Pakistan, Turkey, and Mexico.
  • BYD’s EVP, He Zhiqi, says the company is scaling fast, hiring 200,000 employees recently to meet surging demand.

• Turkeys won’t be the only thing looking to take flight this holiday season as Thanksgiving weekend is set to be one of the busiest travel weekends in history.
  • AAA predicts 79.9 million travelers, a 1.7 million increase from 2023.
  • 71.7 million will travel by car, with lower gas prices expected under $3 per gallon.
  • Airlines anticipate a surge, with 31 million passengers projected, a 2 million increase from last year.
  • United Airlines, American Airlines, and Delta all expect record-breaking passenger numbers.
  • Stacey Barber, vice president of AAA Travel, said, “Thanksgiving is the busiest holiday for travel, and this year we’re expecting to set new records across the board, from driving to flying and cruising.”

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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