Why Right Now Might Be the Best Time in 4 Years to Buy a Car

Jonathan Smoke has lived through enough economic cycles to know when the ground is shifting — and right now, the auto industry is sitting on 7 million units of pent-up demand, the highest EV incentives in history, and a tariff policy not seen since the 1930s. As Chief Economist at Cox Automotive, he’s had a front-row seat to how tariffs, consumer psychology, and manufacturer poker games are reshaping the market in real time.

In this conversation, Jonathan unpacks why today might be the best time in four years to buy a car, why EV adoption is still inevitable despite volatility, and why Chinese EVs entering the U.S. could be the single biggest factor in breaking through the 17-million SAR ceiling. From tariffs to Tesla to the psychology of car buyers, this episode is a masterclass in connecting global economics to the showroom floor.

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Takeaways

0:00 Intro — Jonathan Smoke returns to NAMAD Sessions

0:23 Why tariffs today mirror the 1930s—and what’s different this time

1:45 How the auto industry became ground zero for tariff fallout

3:16 Why consumer spending has re-accelerated despite uncertainty

5:23 The 7 million vehicles still sitting on the sidelines

7:28 Why right now is the best time in 4 years to buy a car

7:54 EV sales hit record share—and incentives are fueling momentum

10:08 Why EV adoption won’t go backward, even with setbacks

11:52 Why electrification is inevitable for multi-car households

13:16 The bold prediction: Chinese EVs in the U.S. before 2028

14:29 Jonathan’s “Abba economy” playlist for the months ahead

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Connect with Jonathan Smoke at https://www.linkedin.com/in/jonathansmoke/

Learn more about Cox Automotive at https://www.coxautoinc.com/

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NAMAD Sessions is brought to you by Mia and produced by the More Than Cars Media Network - https://www.mia.inc/