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Episode #1059: Today we’re talking about the strength of dealership valuations despite sluggish buy-sells, Waymo's exponential takeover of the robotaxi race, and why your old boss might be your next one.
Show Notes with links:
- The Q1 2025 Haig Partners Report says that despite solid performance metrics, dealership buy-sells dropped to the lowest first-quarter level in a decade, reflecting uncertainty in a year shaped by economic and political headwinds.
- Only 68 rooftops were sold, as public groups largely sat out; a sharp contrast to recent high-activity periods.
- Public dealers averaged $1M in Q1 pre-tax profits, with trailing 12-months at $3.9M—nearly double pre-pandemic levels.
- Blue sky values held firm at $20.7M, down just 1% from Q4 2024 and still nearly double pre-2020 benchmarks.
- Tariff concerns, election-year volatility, and OEM pricing strategies have many sellers in a wait-and-see mode.
- “These are often short-term fluctuations in what is ultimately a long-term business,” the report notes.
- What started as a quiet experiment has exploded into a transportation revolution. Waymo’s self-driving service is scaling at a staggering pace, reshaping rider habits and leaving competitors scrambling to catch up.
- The ride-hailing company passed 10 million cumulative rides, with 20 million projected by year’s end. Weekly rides jumped from 10K in 2023 to over 250K by mid-2025.
- March alone saw a 27% spike in San Francisco usage—a major behavioral shift.
- Expansion continues in Phoenix, LA, SF, and Austin; plus, Waymo is mapping 10+ new cities including Tokyo.
- Tesla is set to launch its own robotaxi service, using a camera-only, AI-first approach—far cheaper but less tested than Waymo’s sensor-heavy, safety-first model.
- “This isn’t science fiction. It’s not the future. It’s happening now,” said Co-CEO Tekedra Mawakana.
- As economic uncertainty lingers, both workers and employers are turning to familiarity. The share of new hires who are former employees—aka boomerang workers—is climbing again, especially in tech and media.
- March data shows that 35% of hires were returning employees, particularly in the information sector.
- Employers value boomerangs for cultural fit, performance history, and quick onboarding.
- Job seekers face longer searches and more layoffs—making old employers more appealing.
- Experts say your exit matters—managers increasingly view resignations as a potential pause, not a goodbye.
- “You want to get the best bang for your buck, and often it’s a returning employee,” said ADP Chief Economist Nela Richardson
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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