Presidential Buy/Sell Market, Huge Rivian Loan, Cheap Turkeys

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Warm up those appetites, folks. As we get ready to loosen our belts, the buy/sell market seems to be doing the same thing as the Trump era nears. We’re also talking about a gigantic but conditional loan from the government to Rivian, as well as cheaper turkeys for everyone this year.  

Show Notes with links:

• The 2024 presidential election outcome is expected to rejuvenate dealership buy-sell activity, as regulatory rollbacks and economic optimism provide a favorable environment for acquisitions.
  • Dealers anticipate eased EV mandates and fuel economy standards, creating market stability.
  • Regulatory changes could improve dealership valuations, especially in California and CARB states.
  • Lower interest rates under Trump could simplify financing for buyers and boost car sales.
  • “It’s going to be the Roaring ’20s,” said Stuart McCallum of Withum.
  • “Trump is certainly bullish on business... I think the M&A market in the dealership world will follow suit,” said Mike Sims of Pinnacle Mergers & Acquisitions.
  • “Should California’s strict requirements get overturned... I would expect a significant increase in buyer demand,” said Erin Kerrigan of Kerrigan Advisors.

• Rivian has locked in a $6.6 billion DOE loan to resume construction of its delayed Georgia factory, aiming to expand its EV production capacity and create jobs.
  • Rivian originally announced the $5 billion factory in 2021, aiming for 400,000 vehicles annually by 2024.
  • Faced with a cash crunch, construction paused, and plans shifted to build its R2 SUV in Illinois, saving $2.25 billion.
  • The Georgia factory, now slated for 2028, will employ 7,500 by 2030, supported by a $1.5 billion incentives package from Georgia.
  • The DOE loan aligns with federal efforts backing EV infrastructure, such as Ford’s $9.2 billion for battery plants.
  • "This federal support enables us to lay the groundwork for long-term growth," Rivian stated.

• Thanksgiving dinner costs have dropped slightly this year, but they remain significantly higher than pre-pandemic levels, according to the American Farm Bureau Federation.
  • The average dinner for 10 people costs $58.08, a 5% decrease from 2023 but still 19% above pre-pandemic prices.
  • Turkey prices fell 6% to $25.67 for a 16-pound bird, thanks to lower demand despite a smaller turkey flock due to the avian flu.
  • Other items like milk (-14%), peas (-8%), and celery (-6.4%) saw price drops, but stuffing (+8%) and cranberries (+12%) rose.
  • Regional price disparities exist, with the South offering the cheapest dinners at $56.81 and the West the highest at $67.81.

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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