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Saturday, October 10, 2026

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The Morning DriveFriday, October 9Earlier edition

Cheaper Metal, Shakier Buyers, and an FTC Holding a Red Pen

Wholesale slipped again in September and bankruptcy filings blew past 460,000 through Q3 — while a Florida dealer group just agreed that the advertised price has to be the actual price.

THE PRICE IS THE PRICE

The FTC announced a settlement with Orlando's Greenway Auto Group over ads the agency says listed prices thousands of dollars under what buyers actually paid, plus prize mailers that weren't prizes. Same day, the commission cut $15.8 million in refund checks to consumers of a cash-advance app it accused of deceptive marketing and cancellation runarounds — a reminder that the advertising rules and the enforcement appetite didn't go anywhere. Both filings are worth a read with your own VDPs open: the question regulators keep asking is whether the number in the ad is the number you'll actually take.

BUY CHEAPER, UNDERWRITE HARDER

The Manheim index fell 1.1% from August to 205.9 as fuel costs pushed demand around the lanes, which is good news for anyone restocking this month. The bad news rides in the same car: Epiq AACER counts more than 460,000 bankruptcy filings through three quarters and still climbing, and the retail trade is openly leaning on F&I because front-end gross isn't carrying the store anymore. Cheaper acquisition only helps if the paper holds — price the risk at the desk, not at month-end.

THREE RECALLS, ONE VIN CHECK

Volkswagen is recalling ID.4s for a battery fire risk and telling owners not to charge past 80% — on the same week it confirmed the ID.4 is dead and replaced by the ID. Tiguan, with no US date announced. Stellantis is recalling more than 265,000 Ram ProMaster cargo vans for potential electric power steering failure, and Toyota flagged 2026 RAV4 PHEVs for possible loss of power while driving. The ProMaster one is the lot killer for anyone stocking work vans; the ID.4 one is a values story, because a recalled, discontinued EV is a hard conversation at appraisal time.

YOUR OIL BILL IS MOVING

Costco is capping motor oil at two packs per week as Group III base oil prices surge worldwide, and 0W-20 is taking the brunt of it — which is exactly what the Camrys, CR-Vs and Corollas in your recon line drink. Meanwhile ASE is collecting data for its quarterly service snapshot if you want a read on how your drive compares nationally. Recon cost per unit is the quietest margin leak on the lot; now's the time to talk to your jobber about supply before the price does the talking.

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One system for inventory, CRM, desking, F&I, recon, collections, a live wholesale network and digital vehicle brochures. Built in dealerships, not in a conference room.

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Read this every morning. Then go run the best store in town.

The Morning Drive is free and always will be. The system that writes it desks the deal, prices the car, chases the stip and answers the lead — for independent dealers who are tired of paying franchise money for franchise software.

Cheaper Metal, Shakier Buyers, and an FTC Holding a Red Pen — CloseLine Intel, Friday, October 9