The Truth About Used Cars in 2025

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Welcome back to this episode of The David Spisak Show, today's episode is an absolute must-listen for anyone in the automotive industry—especially if you’re knee-deep in the world of used cars. Joining me are two incredible guests: Jared Kalfus, EVP at Black Book, and Laura Wehunt, VP of Data & Analytics. These two sit at the very heart of the used car universe, and they’re here to unpack the past, present, and future of our industry.

Here’s the deal—used cars are no longer the icing on the cake. They are the cake.

We kick things off with bold predictions for 2025 and rewind the tape to dissect what actually happened in 2024. Why haven’t we seen the kind of depreciation many of us expected? What’s going on with EV values? And how on earth did Carvana make one of the biggest comebacks ever? We dig into all of it—auction dynamics, acquisition mastery, dealer disruptions—you name it.

Jared and Laura share insights straight from the data trenches. Whether it’s affordability challenges, the rise of “big players” like CarMax and Carvana, or new acquisition strategies shaking up the status quo, this episode delivers the goods.

Key Takeaways You Won’t Want to Miss:

  • Why inventory acquisition is the single most critical skill to master in 2025.

  • How shifting consumer preferences are rewriting the playbook for success.

  • The wild world of EVs—crazy depreciation, surprising affordability, and what’s next.

  • Real talk on auctions: Are they still worth it, or are alternative platforms the future?

This is one of those episodes where you’ll want to take notes, hit rewind, and maybe even send it to your team. It’s a mix of hard-hitting facts, valuable strategy, and some fun moments (yes, there’s Santa Claus and Cybertruck talk).

If you’re in the used car business—or just curious about what’s ahead—this is for you.

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