The Lows and Highs of Used, EV Escalade Is Coming, Customer AI Reviews

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Today we’re talking about the crazy changes in sub-20k vehicles on the market since 2019. We also cover the reveal of the new Escalade EV as well as a savvy ecomm company working to make consumer reviews easier to digest. 

• Consumers are realizing something Dealers have known for a while: finding a used car under $20,000 is no easy feat. A recent study highlights the dramatic changes in the used car market, with budget-friendly options dwindling.
  • In 2019, nearly 50% of the market comprised sub-$20,000 cars; by 2023, this dropped to less than 13%.
  • A study from iSeeCars.com revealed that popular used car models like Camrys and Civics are now up to $8,000 more expensive than in 2019.
  • In 2019 the avg cost of a used Ram 1500 was 27,324. In 2023 it’s $42,881 (+56%)
    • A Corolla jumped almost 50% from ~14,200 to ~21,300
    • A Honda Civic is up over 46% ~16,500 to ~24,000
  • George Chamoun, CEO of online auction company ACV said on an earnings call yesterday that industry trends point toward an ongoing recovery in market conditions in auto sales over the next few years.
• Reiterating their commitment to heading toward an all-electric future, Cadillac revealed  the 2025 Escalade IQ at a launch event yesterday . This revamped version of the iconic SUV, priced at around $130,000, boasts a 450-mile range and is working to tie the brand's storied legacy with state-of-the-art tech.
  • GM President Mark Reuss said at the event, "Escalade has defined what a full-size luxury SUV is supposed to be. From the get-go, it was the cream of the crop. It's what everybody wanted. Almost immediately, it became a status symbol in the same way the best Cadillacs were decades before. The Escalade IQ is riding on a wave of all that history, all that cachet and all of that greatness, and only now it's in a fully electrified package."
  • It’s 4 inches wider and a foot longer than a standard Escalade
  • Output of as much as 750hp, 0-60 in 5 seconds, and has a 55” curved display borrowed from the luxury Celestiq
  • Execs confirmed that the new model will be sold alongside ICE models on Dealership lots
• Online technology retailer Newegg is working to transform reviews in e-comm with its latest AI-driven feature. The tech retailer now employs generative AI, ChatGPT, to distill customer reviews into concise "Review Bytes" and detailed "SummaryAI" paragraphs to make it easier for shoppers to get the gist of a review
  • Clicking on a ‘Review Byte’ allows customers to access the full original review, while SummaryAI offers a deeper understanding of multiple customer opinions.
  • AI-generated content is clearly labeled for transparency, ensuring shoppers know its origin and can access original reviews.

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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