This episode sponsored by
Q4 2025 delivered no shortage of surprises—and critical lessons—for auto dealers. On the season two premiere episode of Dealer Driven, NADA Chief Economist Patrick Manzi unpacks the economic forces, policy shifts and demand trends that reshaped the market late last year and offers a clear-eyed outlook for 2026.
The biggest headline? The EV cliff. With federal EV tax credits expiring at the end of September, we saw a market reset that highlighted the difference between incentive-driven demand and true consumer appetite. Regulatory changes also gave OEMs more freedom, tempering earlier “all-EV” timelines. Inventory discipline remained a bright spot, but affordability pressures intensified.
Looking ahead, Manzi sees cautious optimism for 2026: modest GDP growth, favorable tax policy, and potential interest rate cuts could help—but something else will be the defining challenge. He offers his advice to dealers on what to do to be positioned to win in the year ahead.
Listen to the full episode for deeper insights and actionable takeaways wherever you get your podcasts.
Join Manzi and Cox economists Jeremy Robb and Mark Strand for an in-depth discussion of what to expect from the new light-vehicle market in 2026 at NADA Show 2026 on Live Stage (West Hall Lobby, Las Vegas Convention Center), Thurs., Feb. 5., from 12-12:25pm
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