February 14, 2025 • 43 mins
Hannah and Matt talk about the new Porsche Macan EV and the Corvette ZR1 that beats the McLaren Senna lap time at VIR. Plus, what tariffs could mean for auto companies and the result of that Mercedes-Benz SL600 auction on Bring a Trailer.
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Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, radio news. I'm Matt Miller and
I'm Hannah Elliott, and this is Hot Pursuit.
Speaker 2 (00:20):
On today's episode. I want to talk about the mccon
EV because I know that you're driving it. I think
that Matt Farrah also bought one, and I haven't listened
to his podcast in a while, but otherwise I haven't
heard anything about the mccon EV, so I want to
get your take on that. I also want to talk
(00:42):
about some new lap records multiple set by the Corvette
z R.
Speaker 3 (00:48):
And I really like how I did this too.
Speaker 2 (00:51):
And I want to talk about BMW keeping a beat,
keeping the V eight in the lineup in the future.
Speaker 3 (00:57):
This is some great goodness.
Speaker 2 (00:59):
So those those three things, plus we can go back
and recap the auction of the car we were talking
about last week, the Mercedes are one twenty nine SL
six hundred. And I also want to ask you about
a rumor I heard speaking of Matt Farrah and one
of my former dream cars. Okay, okay, if it's legit,
if it's kosher to talk about that, I think so okay.
(01:20):
So let's start with the Macan Portia. Is I mean
sucking eggs in terms of the stock right, as we
were talking about last week. I know, I know they're
taking a huge hit. I think an eight hundred million
dollars or euro write down this year because of their
EV business.
Speaker 1 (01:37):
Yeah. Their profit margin is going to slump as low
as ten percent this year, which is half of what
management had floated before the IPO.
Speaker 3 (01:47):
Yeah. I think the stop stock, like.
Speaker 1 (01:49):
You mentioned, has is at its lowest as it ever
has been. Their market value is half of what it
was in twenty twenty three, and a lot of that
is do to problems with.
Speaker 3 (02:02):
Rolling out these evs, right.
Speaker 1 (02:05):
Yeah, and so and the evs are the Tayken and
the Macon.
Speaker 2 (02:10):
So so far those are the only two evs in
their lineup, right, Yeah.
Speaker 1 (02:14):
I mean we're still awaiting the Mission X, which is
the successor to the nine to eighteen Spider Hybrid, which
they had sort of floated as an electric vehicle, and
we don't have confirmation about whether or not that will
be electric.
Speaker 2 (02:30):
Yes, by the way, did I see you. I'm trying
to remember a couple of years ago before we started
this podcast, I was in Munich and the McDreamy.
Speaker 3 (02:39):
Guy from Patrick Dempsey.
Speaker 2 (02:42):
Gray's anatomy was talking about driving the Mission X in
like a some beer hall. I'm pretty sure I saw
you there too. Were you there too?
Speaker 3 (02:53):
I have been in beer halls and Muncheon, Yes, yes
I have. That could have been me.
Speaker 2 (02:58):
I mean, you don't forget when you see McDreamy right
talking about driving Porsche's that's true.
Speaker 1 (03:05):
Have you noticed that Orlando Bloom is now sort of
the new.
Speaker 3 (03:09):
Face of Porsche in a way?
Speaker 1 (03:11):
And I'm wondering is McDreamy feeling slightly replaced because now
there's another actor?
Speaker 2 (03:18):
Maybe they felt like he betrayed them in going to
Ferrari when he did that, when he did that movie
with Kylo Wren of Star Wars.
Speaker 3 (03:28):
I you mean Ford versus Ferrari.
Speaker 2 (03:31):
No, the Ferrari movie where Kylo played Enzo Wait Patrick
Depsey played one of the race car drivers.
Speaker 3 (03:39):
Oh my gosh, of course.
Speaker 2 (03:41):
You mean Penelope Cruz played.
Speaker 3 (03:44):
But what's the guy's name? The actor?
Speaker 2 (03:47):
Adam Driver?
Speaker 3 (03:48):
Adam Driver. There you go.
Speaker 1 (03:49):
Yeah, I don't know Star Wars references, but I do
know Adam Driver and and I think we decided that
Penelope Cruz was the reason to watch that movie, didn't
we decide.
Speaker 2 (03:57):
That loved her, and I think she was also the yeah.
Speaker 3 (04:01):
She's good, she's cool, mistress, she was a mistress.
Speaker 2 (04:04):
Yeah. Anyway, so let's get back to the car. I
expect any Porsche Electric or not to be amazing, so
as a baseline, right, is that fair?
Speaker 3 (04:16):
Completely?
Speaker 1 (04:16):
And I have to say the review for this I
still am in the middle of the test drive. The
review will come out early next week, and I was
so curious to try it because a lot of the
problems that we're hearing coming from Porsche have to do
with the implementation of the mccon specifically both software issues,
(04:37):
supply chain issues, delivery issues, delays at dealership, all of it.
And so the problem with doing a product test drive
is that probably none of those things are going to
come up in the three days.
Speaker 3 (04:51):
That I have to drive the vehicle.
Speaker 1 (04:53):
So my big disclaimer on this is that I am
not owning this vehicle. I cannot anticipate what would happen
after a month or two. And I also didn't have
to wait a long time to receive my vehicle, all
of which are legitimate complaints and problems. But when it
comes to actually simply driving the product for a week,
(05:16):
Matt To your point.
Speaker 3 (05:17):
It's very good. Yeah, it's to your point.
Speaker 1 (05:20):
Portia is not in the business of selling crap, and
it does exactly what it's supposed to do, and it
does it extremely well. I don't think you're going to
fall in love and have a heart to heart romance
with the Porsche Macon Ev. But in terms of driving performance,
(05:42):
and yesterday I drove it from my house in Hollywood
up Angelie's Crest to Newcomb's Ranch, and I did flog
it because I really wanted to see what the battery
was going to do in terms of retaining charge. And
from the base of Highway to up to Newcombs it's
twenty six miles and it's very hilly and windy, and
I lost I don't know ten percent maybe of battery charge,
(06:05):
which is so wow good, so good, And of course
it regathered a lot of that coming back down.
Speaker 3 (06:11):
It's so fast.
Speaker 1 (06:13):
I'm not gonna incriminate myself, but I would say that
you can definitely probably hit three digit figures easily in
this suv on highway too. It's incredibly fast. It really
smooths out the road over really crappy roads. I mean,
LA has really bad road surfaces, I would say that
(06:36):
it felt it's a heavy vehicle, but it doesn't feel sluggish.
You can feel the weight when you're going around a corner,
of course, but.
Speaker 3 (06:44):
It's not a sluggish weight. It's just it's just an suv.
Speaker 2 (06:48):
And and by the way, so you, I think, and
also me to some extent, we're spoiled by test driving
these really nice cars very much.
Speaker 1 (06:58):
So.
Speaker 2 (06:59):
Yeah, but for someone who who doesn't get a lot
of seat time in these one hundred thousand plus dollar vehicles,
the interior, the intuitive setup of Porsche, like the build quality.
It's so solid that I think someone who's not used
(07:19):
to it is struck by how well they do at
building cars electric or I see, is that is that
the case with this as well?
Speaker 3 (07:26):
Absolutely the case.
Speaker 1 (07:27):
It's true, you know, through and through from Porsche engineering.
Speaker 3 (07:32):
It's absolutely tight quality all all of that.
Speaker 1 (07:37):
And I remember saying back in the day before any automakers,
besides a few startups like Tesla, we're making electric vehicles.
I would always say the OEMs aren't not making electric
vehicles because they can't. They're waiting until they have to.
So by that, I mean, once Porsha decided it needed
(07:59):
to make.
Speaker 3 (08:01):
It knows how to do it, and it knows how
to do it well.
Speaker 1 (08:03):
This is this is not a startup trying to figure
out how to make cars, which I think is really
one of the negatives about many startup electric car companies,
which is they don't have experience making cars, and making
cars is very hard. A car is a very complex thing,
and so it's really nice to be in an electric
(08:24):
vehicle that is made by a proper car company because
PORTIONA knows exactly what it's doing.
Speaker 3 (08:30):
It's been making cars for almost what eighty years now.
Speaker 2 (08:35):
So in my experience, the NVH, which is kind of
the noise, vibrations, and harshness of electric cars, is more
difficult to get right than internal combustion engines. We've talked
about this before, but if you're driving a car with
a gas motor or diesel, especially, the motor itself makes
(08:55):
so much noise, so that's kind of the main thing
you hear experience, and if you're driving an electric car
you Alex Roy has talked about this. The road noise
is what you hear in experience, and any squeaks right,
any rattle, yes, if the headliner is loose and so
I think it's much harder to get it right on an.
Speaker 1 (09:16):
EV Absolutely, there was none of that in the Macon.
Of course, it has the you know this this synthetic
electric drone, which I'm not necessarily a fan of. You
can turn it off, although sometimes it wouldn't let me
turn it off, and I wonder I need to ask
Porscha about what instances wouldn't allow me to turn it off.
(09:39):
But you're right there. The inside of the car was
nicely quiet. There was an undue road noise. It just
feels like an actual proper vehicle.
Speaker 3 (09:49):
I would say.
Speaker 1 (09:50):
There are two charging ports, one on either side of
the car, and they're kind of tricky to open it
because you can push on the center screen. You can
push like a little icon to open them from inside
the car, and then to open them from outside the car,
you push your you put your hand on them, and
then they'll slide open and then I guess I was
(10:13):
told this in an email. They close automatically when you
drive away. It's not necessarily intuitive to like. It's not
just it's so easy as push this button to open
the charge port and then you can just.
Speaker 3 (10:25):
Push it closed.
Speaker 1 (10:26):
It's a little more complex than that that's a little
quirk that I didn't think was especially seamless.
Speaker 2 (10:33):
Yep, but I don't know.
Speaker 3 (10:36):
I think let's talk about it that way.
Speaker 2 (10:37):
I love so not a macn but yeah, on my
nine to eleven, and maybe on all of them, I
loved filling it up because the gas tank was on
the front.
Speaker 3 (10:50):
Right, like like an actual race car. Yeah, so cool.
It is so cool.
Speaker 1 (10:55):
I mean the minute you pull up at the at
the gas station and that's the setup and you just
get up, get out casually and just walk over and
like you know, Philip.
Speaker 3 (11:04):
Your car and everyone's feel special. It does make you
feel very cool.
Speaker 1 (11:09):
I am myself, and then you try to act like
you don't realize anyone's watching, but you know everyone is.
Speaker 2 (11:14):
Well. I'm going to try and be more level headed
or even handed when it comes to judging EV's because
we talked about this last week. Some readers, some viewers,
some listeners think that I'm too biased against EV's, And
yesterday I actually sat down with the new chief financial
(11:34):
officer of the Ford Motor Company.
Speaker 1 (11:37):
Yes, can I just finish on one spot on the
Macon So the MCON I had the turbo electric edition.
It's six hundred and thirty horse power, which was plenty,
and the price starts at one hundred and five thousand dollars,
which I actually think isn't crazy. The total price of
the one I drove was one hundred and thirty one
(11:58):
thousand dollars. It's significantly more expensive than like an Audi
electric suv.
Speaker 3 (12:05):
But I don't know. I don't think for this type
of buyer that's going to be a deterrent.
Speaker 2 (12:11):
Fin A macan buyer isn't the same as like a
Turbo S buyer, you know, a Kayak Turbo S buyer.
Speaker 1 (12:18):
You're right, You're right, But somehow I think perhaps, well,
this goes into a bigger question. I was going to say,
the person who's buying an all electric suv is already
a different animal, you know, they're not like they're they're
they're buying an EV for more of a philosophical reason
than a utilitarian one. But I would say, it seems
(12:40):
like people don't necessarily want electric Porsches, period, and that's
kind of what we're finding out, no matter how good
they are. Like this Macon, This electric Macon is great.
It's great in terms of how it performs and how
it's built and everything, but if nobody wants an electric
Porsche s, it doesn't matter how good it is.
Speaker 3 (13:01):
People don't want them. So that's the big question we'll
have to find out.
Speaker 2 (13:06):
Well, like I said, I'm trying to be more level
headed about or handed about EV's because of the critique
that I think is fair that we got. And I
sat down with the CFO of the new CFO of
the Ford Motor Company yesterday, Sherry House, who is so
like she clearly loves EV's. I was talking to her. Yeah,
(13:29):
and she's an engineer at heart. She started her career
at General Motors as an engineer, and she went to
the General Motors Institute the Kettering University, and then she
joined some She became an investment banker after her MBA,
and then she joined some tech companies. She worked for Waimo,
but then she went to Lucid and she was the
CFO of Lucid for a couple of years. She brought
(13:49):
them public. So that's pretty cool experience, yea, But she
still is. I mean, I could just get the vibe
from talking to her about a number of different issues
in love with EV's. You know, she says her family
obviously her husband also worked at Tesla, so she was
basically saying, like, you know, they've they've grown, not just
(14:10):
used to them, but they really appreciate them. I didn't
ask her directly about, you know, her relationship to EV's,
but I'm just from the conversation I had with her,
I was kind of jazzed up myself to give EV's another, sure,
another go. And obviously I'm going to be driving them
here and there anyway, but to do it with a
with a more open mind and to think about them
(14:32):
potentially more passionately.
Speaker 1 (14:34):
Yeah, I mean, it's interesting that she's at Ford now
because of course when we think of Ford, we we
don't necessarily think of EV's at all.
Speaker 3 (14:42):
So it's really interesting to hear.
Speaker 1 (14:43):
That there's someone who's truly passionate about them at this
old American company.
Speaker 2 (14:49):
Yeah, I mean I think of right or Wrong. I
think of GM because of the Hummer right and sure
the Sierra ev that I drove. Obviously, Ford has a
successful product in the Lightning, and they had the Maki,
which which Matt Farrah.
Speaker 1 (15:09):
Was driving for years before the year before you got
I think Matt kind of missed being in something electric.
Speaker 2 (15:15):
Yeah, you know, so I guess there are people out there.
Maybe one day I'll become one of them. Maybe you will, Hannah.
Speaker 1 (15:21):
Oh, I would totally take a Fiat five hundred e E.
And I know I keep beating that dead horse, but
that was the most fun.
Speaker 3 (15:29):
I would also take an electric vespa.
Speaker 2 (15:31):
That'd be cute or yeah, you know I would an
electric vespa.
Speaker 3 (15:35):
Oh, I would for sure take that.
Speaker 1 (15:37):
I would definitely take a zero electric motorcycle. To me,
the application of for electric motorcycles.
Speaker 3 (15:43):
Is so fun.
Speaker 1 (15:44):
And I know this may be sacrilegious to you, who
are wearing a Harley Davidson baseball hat as we speak,
But I got no skin in the game.
Speaker 3 (15:55):
Would give me an electric motorcycle? I don't care. I
think they're cool.
Speaker 2 (15:58):
No, I don't disagree. I don't know if cool is
the right word. I would for me. But I test
drove an Inergica innerjica is that how you say it?
Like ten years ago, and I had a great time.
I've ridden zeros, very interesting. If a vespa, If an
electric vespa was properly powerful and had decent range, I
(16:21):
would I would rather have that than like the four
stroke fifty or one twenty five that a salad rather
have an electric one. I just don't think they're quite
there yet, and I definitely would not I would not
want a live wire. I have to say.
Speaker 1 (16:35):
You know, I also wrote the live Wire when I
was still in New York, and I thought it was nice.
Speaker 3 (16:42):
I thought it.
Speaker 1 (16:43):
Yeah. To me, honestly, Harley is probably not my brand
of choice. Why wouldn't you want a live wire?
Speaker 2 (16:51):
It's just it's not what Harley's about or anything.
Speaker 3 (16:55):
Yeah, I understand.
Speaker 2 (16:56):
I mean Harley. I want Harley to be making motor
that I feel like are barely legal to make. You know,
they make two Leader twins. I can't believe they're not
regulated out of existence. And the sound, you know, I
don't want a catalytic converter on it or a muffler.
I just want straight pipes.
Speaker 3 (17:17):
I get it. Can we go back to Ford for
a second.
Speaker 2 (17:20):
Yeah?
Speaker 3 (17:20):
Can you talk about what you guys talked about or off?
Speaker 2 (17:24):
It was off the record, so no, I'll just say
I was really impressed with her resume. You know how
she came up through the ranks in Detroit and then
in California and did so much with Lucid And I'm
excited to see what she does it Ford. I'm excited
(17:45):
to see what Ford does. Frankly, you know, they've had
bigger and worse problems with EV's than anybody else. And
Jim Farley, the CEO, seems to be one of the
only big CEOs that's really I don't want to say
speaking out against the administration, but against the idea of tariffs.
Right if they have twenty five percent tariffs from Mexico
(18:08):
and Canada. Ford isn't gonna be as hurt as GM
or Stilantis. But he's the only one who's out there saying, hey, guys,
not a good.
Speaker 1 (18:18):
Idea completely, And I mean talking about Porsche if tariffs.
If tariffs actually happen, Porsa's gonna lose out considerably, you know,
even to the point where are they gonna have to
start making subs in the United States only because how
are they gonna make any money?
Speaker 2 (18:39):
Right? Well, and that would take imagine how long that
would take. Because I know they can't use the Folkswagen
plant to build their evs because it's it's tooled for
the wrong platform. They would have to build a factory
from scratch, right, and by the time they're done getting
that all set up. I mean, look at how long
Blue Oval City is taking in Tennessee. That would be
(19:00):
the end of the Trump administration, and who knows what
the next administration is going to do. You just can't
operate in the business environment with this kind of uncertainty.
And obviously the price increases on cars that already are
too expensive would be insane if we put in twenty
five percent tariffs.
Speaker 1 (19:20):
Well, yes, I just see this thing from Bloomberg Intelligence.
It says that if Trump increases tar off tariffs on
cars coming from the EU to ten percent that are
currently at two point five percent to ten percent, it'll
wipe out more than two billion euros of earnings before
interest in taxes.
Speaker 2 (19:39):
Now, in fairness, by the way, to US, we only
tear iff them at two and a half percent and
they tear iff our products at ten percent. So the
EU started this protectionist yes, sort of back and forth.
I think, you know, if they really wanted to send
(20:00):
a message to the Trump administration about no tariffs, they
should reduce the tariffs that they have on US vehicles.
By the way, By the way, I wanted to point
out this story on BMW because as you see, you
know EV's becoming not only accepted by consumers to some extent,
(20:26):
and we should point out there's still growth right in
EV sales. Sure sure, sure you do. See obviously, governments
are pushing and really trying to steer people towards evs
because most Western world governments think that they're greener and
phase out these bigger motors, right BMW after the my
(20:48):
Dream seven series in twenty twenty two, the seven sixty
will never make a V twelve again. And I don't
think they've made a ten cylinder motor since the M five,
like ten or fifteen years ago.
Speaker 3 (21:02):
Sounds about right.
Speaker 2 (21:03):
The V eight is the most cylinders you can get,
and I would have thought that's on the chopping block
soon as well, But apparently, according to Automotive News an
interview with the BMW executive, it's not.
Speaker 3 (21:15):
This is great news.
Speaker 1 (21:16):
And the main thing that I'm remembering now is like
when I first moved to New York, every person who
worked in finance had an M three basically, and most
of the M three's in that era were V eights yep,
which is great, and but even at the time I remember,
wasn't the M three switch to V eight around two
(21:38):
thousand and seven. Six.
Speaker 2 (21:40):
Yes, it was right after the.
Speaker 1 (21:42):
Right and people were concerned about that switch. But actually
that was a great car. And now at this point
we're looking back being like, wow, that was such a
great car. I wish I had one.
Speaker 2 (21:51):
Now at least I am true. You wrote a story
about that, right, the E ninety two. Yeah, yeah, yeah,
I prefer the E forty six M three. But I'm
older than you, so for me that was like in
my sweet spot. Yes, yes, but I still want BMW's
to BMW's to have V eight options in different you know,
(22:14):
for example, if I had an X five, is the
INLINE six sufficient, Yes, it really is. But would I
rather have the V eight the M fifty, Yes I would.
Speaker 1 (22:24):
I mean, I like, you know, I truly don't care
really as long as something gets the job done what's
under the hood.
Speaker 3 (22:30):
But theoretically I.
Speaker 1 (22:31):
Totally agree with you do we as BMW said, why
they're keeping the V eight other than it.
Speaker 2 (22:38):
Sells because Americans want it. No, it's just it's purely
American demand.
Speaker 3 (22:42):
Well that's simple, yeah, and that's how businesses work.
Speaker 1 (22:45):
I was gonna say, this is a great example of
the automaker listening to what consumers actually want and doing that.
Speaker 2 (22:53):
Yes, and but not being deterred by governments saying you
can in camp.
Speaker 1 (22:57):
Sure, And we all know the famous Henry Ford quote.
If I had listened to what people wanted, they would
have wanted a faster horse or something to that. Yes, effect,
And that's somehow supposed to prove that automakers have to
be visionary and forward thinking and plan, you know, decades
in advance, and all of that is true, but also
(23:18):
it's sometimes you get you overthink these things, and really
the best thing is to just give consumers what they want.
Speaker 2 (23:23):
Agreed. Yeah, The problem is consumers don't always want what
we want them to want, right. I think BMW should
sell a three series station wagon with the VA stick yeah,
of course in brown, but they won't.
Speaker 1 (23:39):
You know.
Speaker 2 (23:46):
You know what, speaking of consumers giving us what we want,
I want to talk about this Corvette story. Yeah, because
the z R one is already an absolute monster. One
thousand and sixty four horse power, right, eight hundred and
twenty eight pound feet of torque zero to sixty, not
that it matters, but two point three seconds and the
top feat of two hundred and thirty three miles an
(24:07):
hour yeah. I mean it's an absolute beast and it.
Speaker 3 (24:11):
Costs under It starts at like one hundred.
Speaker 2 (24:13):
And eighty or so, that one seventy four.
Speaker 3 (24:15):
Okay, So that to me, that's a pretty good deal.
Speaker 2 (24:19):
To be honest, it's I think amazing. I don't Yeah,
I personally wouldn't want one because I'd rather have a
Z six Okay, naturally aspirated you know V eight that
puts out more than six hundred horsepower tracks.
Speaker 3 (24:34):
That definitely tracks for you.
Speaker 2 (24:35):
But if you want the King of the Hill, this
is it. And there is a great story in Car
and Driver that the Corvette team went around to a
bunch of famous tracks in the US and just knocked
out lap records.
Speaker 3 (24:49):
This is honestly so cool. And they did it with
their own engineers.
Speaker 2 (24:53):
That's to me the most exciting part because you always
hear about, you know, these neurveburgering records. Square they hire
some amazing driver and they wait hopefully they get perfect conditions,
and you know that it's very much to me, it's
still controlled, and I think, well, I would never be
able to squeeze, you know, ninety percent out of that car.
(25:15):
I don't think I would be able to do it
in this car either, but GM has some obviously very
talented drivers working for them as engineers.
Speaker 1 (25:25):
This Aaron Link, the Global Vehicle Performance Manager, Yeah, out
there setting on vir setting course records.
Speaker 2 (25:34):
I mean he set so Aaron Link as you said,
Global Vehicle Performance Manager says, production car course record on
the full course and the grand course layout, and that
takes the title, at least the grand course title from
the twenty nineteen McLaren Senna.
Speaker 3 (25:53):
That is so cool and legit.
Speaker 2 (25:58):
Yeah, so lead performance engineer Bill Wise, I'm reading it
from Car and Driver.
Speaker 3 (26:02):
He set a new track record.
Speaker 2 (26:04):
At Watkins Glen. Brian Wallace, the lead vehicle dynamics engineer,
broke the production record at Road America.
Speaker 3 (26:12):
Chris Barber Stack Team.
Speaker 2 (26:14):
Chris Barber, the lead development engineer, broke the production car
record at Rhode Atlanta. I mean, how sweet is this?
Speaker 3 (26:21):
That is crazy?
Speaker 1 (26:21):
And I think we should also point out the McLaren
Center is a million plus dollar car, right, I mean,
so to beat that with this like homespun, seeming down
home group of guys who are the engineers and the
product managers out there burning it down in.
Speaker 2 (26:40):
A basically two hundred thousand I mean, I don't know
how much the total price was, but like we said,
the base price is one seventy four, one seventy five.
This one apparently had the ZTK Performance Package.
Speaker 3 (26:54):
Definitely they had. They had it souped.
Speaker 2 (26:56):
Up, but you can but these are things that you
can buy. These are options, right. It just adds a
rear wing, more aggressive spoiler, Michelin Pilot Sport Cup twos,
and beefed up suspension, the magnetic ride control.
Speaker 3 (27:11):
I'm sure it's probably a sports car.
Speaker 2 (27:14):
It's probably less than two hundred grand for the whole thing. Yeah,
speaking of value for money, let's talk a little bit
about this Mercedes auction that we were talking about last
last week. So my buddy Philip Richter had this Mercedes
R one twenty nine SL six hundred a two thousand
and one V twelve Mercedes, and you wrote a story
(27:38):
about these as well, the R one twenty nine.
Speaker 3 (27:40):
Yeah, they're so cool.
Speaker 1 (27:43):
They're the perfect era of like end of two thousand
and one is basically the nineties still, which is the
ultra cool ERAa of Michael Jordan and Chicago Bulls and
like the best era of rap and all of these
great things.
Speaker 2 (27:57):
Well, don't forget about grunge, right, I mean, oh yeah, Grunges, Wirld, Jam, Nirvana, Soundgarden,
Alison Chain's Hall nine inch Nails.
Speaker 1 (28:09):
I was listening to ring Finger this morning and thinking
that is a great.
Speaker 2 (28:14):
Song Jane's addiction. Yeah, I mean, so many insane bands
came out in the span of I think most of
those bands, says nineteen ninety nine until two thousand and one. Right. Anyway,
So this car, it's a halo car for Mercedes. I
don't think they put the V twelve in anything anymore either, right,
(28:34):
I don't think so. I mean they didn't stop for
a little while longer. But so Philip Richter has a
cream puff with only one one hundred and eighty six miles.
He puts it on bring a trailer through this other business.
This dude Dean auctions it for him. But this is
a car that he bought it from the first owner,
(28:55):
and it's always been serviced at the same dealer where
it was purchased, and it's perfect.
Speaker 1 (29:02):
So this wasn't a very interesting sale. I have to say,
I think he did pretty good for himself. Because I'm
on Hagardy dot com right now and I can see
that the average price for a two thousand and one
Mercedes SL six hundred in good condition is twenty five
(29:22):
thousand dollars.
Speaker 3 (29:23):
And this is way better than good Okay, so one
one in concor condition mint condish is only seventy four
thousand dollars.
Speaker 2 (29:33):
Okay, but this is even beyond that. I mean, this is.
Speaker 3 (29:35):
Still new in the read. It can't be that much
more beyond it.
Speaker 1 (29:40):
I mean, how much newer can you get than concor
mint condish.
Speaker 2 (29:45):
I don't know as much about these things as you do,
but I have seen forty year old virgin, so I
know that if the toy is still completely wrapped up
and no one has ever played with it, it's much
more valuable. I just.
Speaker 1 (30:00):
I do think it's a little weird that I got
a PR email about this car. This was after the
fact we had already spoken about it. But then I
did get an email from someone in a PR company
like telling me about the car, which is weird because
most cars I bring a trailer don't have a PR
company behind them.
Speaker 2 (30:18):
True, And that was as the auction was live.
Speaker 1 (30:20):
You got the email, right, which I mean that's a
little And then and then you know, to have the
there was one bidder who bid straight into one hundred
and eighty five thousand.
Speaker 2 (30:31):
All right, so we should say that the So the
the auction starts on February fourth, It gets a bid
for two thousand bucks, then a couple more driving up
to bids, and then all of a sudden, some dude
comes in and bids one eighty five.
Speaker 3 (30:46):
On some one swoops in and shuts everyone down.
Speaker 2 (30:49):
But this is still four hours into the auction, not
even right, yes, and then nothing happens for the next week.
Speaker 1 (30:57):
Crickets complete crickets for a week, and then on the last.
Speaker 2 (31:02):
Day someone from Dubai a dealership who.
Speaker 3 (31:06):
His track wreck.
Speaker 1 (31:07):
I looked at his sale, his winning history on bring
a jailer. He doesn't go for he doesn't go for
great looking cars. Let me tell you, this is by
far the best gar he's bought in a while. Just
bids one thousand dollars more and win wins with no counterbid.
Speaker 2 (31:23):
I can't believe he expected to even get it, to
be honest, if you see, it's been sitting at one
eighty five for a week, and then everyone's waiting until
the last course minute, and so he's like, all right,
I'll bid one thousand dollars over and then the dude
who was so enthusiastic that he bid one eighty five
God doesn't come back.
Speaker 3 (31:41):
There's no repartee, there's no retort, there's.
Speaker 2 (31:44):
No he loses the car for a grand.
Speaker 3 (31:47):
That to me seems so weird.
Speaker 2 (31:48):
To me, I'm doubly shocked because then I read through
the comments. There were like two hundred different comments, and
the window sticker was included in the pictures. Everything was included,
like the seller did an amazing job. The receipts. It
went for one thirty two new in two thousand and
(32:09):
one in today's money. I got to figure that's at
least double. Someone in the comments said in today's money,
that's two hundred and forty thousand. I also feel like
in Dubai the dealer is going to put that on
the floor and get for sure a pretty heaty profit.
Speaker 3 (32:24):
Yeah, that's it.
Speaker 1 (32:25):
I mean in Dubai, I'm guessing probably the market for
this type of car is not as as healthy. There
are not as many options for two thousand and one
Mercedes SL six hundred in Dubai. I'm guessing as in Neptune,
New Jersey, Right, so it's obviously going to be, you know,
(32:46):
a big fish and car.
Speaker 2 (32:48):
People love the designer, Bruno Saco, and this was like
his last great masterpiece.
Speaker 1 (32:55):
Right. I do think these cars are probably slightly on
the on the rise and value, no question about it,
this one. I mean, I just can't get over the
lowm To me, that's honestly such a turnoff. And I
just roll my like, oh, and that reminds me we
should talk about this email we got from a listener
(33:15):
name Rick, and thank you for writing Rick, And I
totally agree with Rick's point. He brings up a point
about the economics of quote unquote basically saving a potentially
valuable car in a garage.
Speaker 3 (33:30):
For its entire life.
Speaker 1 (33:31):
It costs money to store and ensure, and it's a
constant struggle against rust, dry rot, and nesting squirrels. But
what a smart investment.
Speaker 2 (33:39):
Yeah. No, And he's talking specifically about this SL six hundred,
So yeah, I have been thinking about this as well.
Like it not to be fair, my buddy didn't buy
this from the original purchaser, so maybe he got it
for less than the sticker, right, but sure, but I
(33:59):
agree with his with his I've always thought about this.
If you go and buy a car new, say I
go out and buy what's a car that, uh Portia
nine to eleven to car? Okay, you know I would
love to have one.
Speaker 3 (34:15):
I'd love to see you in one with that flannel
shirt you got.
Speaker 2 (34:18):
Or you know what, say I go and buy a
nine to eleven. St while we're on nine to eleven's right,
this is a car that's very limited. It's a it's
a dream car for sure, and you know it's going
to appreciate, or at least I assume it is over
the next few years guaranteed. But I figure twenty five
years for sure. Right then I put it away and
(34:39):
never drive it. If I bought one for two point
fifty and then you know, in twenty five years I
only got like three fifty for it, I would be
pretty bummed out and it would be a horror. It
would have been a horrible investment.
Speaker 1 (34:52):
Right completely, And think of all the money that you
spent to store it and ensure it exactly keep it running.
And this guy Rick such a good point. He says,
short of bubble wrapping a two point fifty gto, few
cars are going to beat the S and P five
hundred index if you're looking for a long term investment.
And that's so true, and like it just goes back
(35:13):
to this common sense thing where yeah, some cars gain
value over time, but most don't.
Speaker 3 (35:20):
And if you buy a car that.
Speaker 1 (35:23):
You truly like for yourself and you drive it, then
no matter what, you will have had a great investment
because you enjoyed it. And maybe you make money on
the back end, and that's a bonus. But the least
you can say is, hey, I lost some coin on this,
(35:43):
but I had so much fun in it.
Speaker 3 (35:44):
I was a happy trade off.
Speaker 1 (35:46):
You know.
Speaker 2 (35:47):
Yeah, I totally agree. By the way, on a side note,
I want to just tell you one thing that in
the car world, people may not have heard about this,
but in my day job as a financial news anchor,
there's a story that I can't get it over. And
you mentioned the S and P appreciation, right, Okay, the
S and P five hundred has done very well since
(36:11):
I was born in nineteen seventy three, like six thousand percent.
But gold has done even better. Gold is up more
like seven thousand percent. And I came across a story
this week that's not about cars, but I still think
you'll find it fascinating if you haven't heard. The US
Treasury owns like two hundred and sixty one million ounces
(36:35):
of gold right at Fort Knox under the Federal Reserve
year in New York. On its balance sheet. The Treasury
last valued its gold holdings the year I was born
in nineteen seventy three, at forty two dollars and twenty
two cents an ounce.
Speaker 3 (36:53):
Okay.
Speaker 2 (36:54):
This week gold traded for more than two nine hundred
dollars an ounce. Wow. The Treasury, on its balance sheet
is valuing its gold holdings at eleven billion measly dollars.
If they would mark their gold holdings to market to
today's price, it would be worth almost eight hundred billion dollars.
Speaker 3 (37:12):
So what does that mean for us?
Speaker 2 (37:14):
Well, for the US, what this means is we're undervaluing
the assets that our treasury holds. And okay, it's an
accounting issue. But what they could do through a repurchase
agreement with the Fed is say, listen, we'll sell you
this now and promise to buy it back later at
the same price. What you do is then the FED
(37:37):
creates seven hundred and fifty billion dollars and sends them
to the Treasury. General Account and then the Treasury all
of a sudden is sitting on more than seven hundred
and fifty billion that it doesn't have to issue in bonds.
And by the way, that's about one quarter's issuance in
US Treasury debt, So they could issue only three quarters
(38:02):
of dead that debt and they normally would in the year,
and I think could bring interest rates down dramatic.
Speaker 3 (38:10):
I think that's a genius plan. I think we should
advocate for that.
Speaker 2 (38:14):
I won't claim credit for it. I read this story
in the FT. Jillian Tett, who's awsome columnist, wrote about
it there, and today I was talking to on my
television show. I was talking to Kevin Hassett, who's the
director of the NA in the Trump administration, and I
asked if he'd thought about it, and he said he
hasn't studied the idea, but he thought it was an
excellent column in the Ft. He also read.
Speaker 1 (38:35):
It, well, does this for me mean I do have
a plug? I do have a gold plug, like I
do have someone who can get gold from Africa at
a good rate. Does this mean I need to buy
buy some buy more, buy a bar.
Speaker 2 (38:49):
No, I don't think it means Will. I don't think
it means much for the price. It wouldn't involve this
repurchase agreement actual sale of the gold. What I do
think it means is, so I was looking at Harley's today.
I'm so excited to go to Buston and ride motorcycles,
and I saw at least this dealership, Wolverine Harley Davison
(39:13):
in Michigan has got a special deal, a financing deal
one point four to nine percent zero down, which is
sick right, But I don't want a new Harley. I
want to buy an older one. And what are interest rates?
I mean, hopefully I can buy it in cash, But
if I were going to borrow money to buy an
(39:34):
older motorcycle, what are interest rates on a used motorcycle?
Probably like ten percent?
Speaker 3 (39:39):
Probably not that seems wildly high.
Speaker 2 (39:42):
No, but I mean used car interest rates are also
like nine, ten eleven percent. If you want to take
if you want to take a loan to buy a
used car, the lender isn't going to give you the
kind of rate he's going to give you on a
on a new car because there's more risk. Sure, Yeah,
I just if the Treasury would do this plan, maybe
(40:02):
we could get those rates down, more of us could buy,
more of us could finance vehicles.
Speaker 3 (40:07):
Well, that'd be good. I think that'd be good.
Speaker 1 (40:10):
I've never financed a vehicle, so I'm really speaking from
a hypothetical.
Speaker 2 (40:15):
Oh my goodness.
Speaker 1 (40:17):
Yeah, I only deal in gold bullion, wow, and corvettes.
Speaker 2 (40:22):
Anyway, that's my fun story of.
Speaker 3 (40:24):
What are you doing for Valentines?
Speaker 2 (40:26):
Let's talk for Valentine's Day? That's a damn good question. Actually,
I don't have a plan yet.
Speaker 3 (40:32):
Oh okay, never mind.
Speaker 2 (40:34):
No, but I'm thank you for reminding me. I will
make plan.
Speaker 3 (40:37):
It is Friday. You know, a little token doesn't have
to be much.
Speaker 2 (40:41):
I will do. I will be doing a little token
for sure.
Speaker 1 (40:43):
A photo times day, you know, a flower, just a
little remembrance.
Speaker 2 (40:49):
I probably will take my wife out to dinner. But
I hate that they charge more.
Speaker 3 (40:53):
I know they do. It's it's unfair.
Speaker 2 (40:55):
You know what I think I might do now, I'm
gonna try and get somebody not only to babies, hit
the cads, but to take them out of the house.
Oh that's great that I will cook dinner.
Speaker 3 (41:05):
But oh, that is so that it's wonderful.
Speaker 2 (41:08):
What about you?
Speaker 3 (41:08):
What's the We're gonna have.
Speaker 1 (41:10):
I'm actually excited about this because Valentine's Day is really tricky.
We're having a non Valentine's Day party on Valentine's Day,
and it's called a Bleeding Hearts Party, and we're inviting
a bunch of friends and it's just an excuse to
get together and hang out and eat cake and drink.
Speaker 2 (41:27):
But it's not a Valentine's It's specifically not a Valentine's Day.
Speaker 3 (41:31):
Point No.
Speaker 1 (41:31):
I mean, the cake's gonna be shaped like a heart
for fun. But it's a non Valentine's Day party on
Valentine's Day.
Speaker 2 (41:38):
But you can bring your Valentine.
Speaker 3 (41:40):
Sure, of course, you can bring your Valentine.
Speaker 1 (41:42):
You can be sweet, but it's not gonna it's like,
it's not gonna be any sort of thing that makes
is just like makes people who don't necessarily have a
Valentine feel.
Speaker 3 (41:53):
Any kind of way. It's just a party to see friends.
Speaker 2 (41:56):
Well that's nice.
Speaker 3 (41:58):
Yeah, it's an excuse that inclusive of you.
Speaker 1 (42:00):
Yeah, well you know, I'm all about it.
Speaker 2 (42:05):
And we'll be waiting on this mccon review on Bloomberg
dot com or on the terminal and then let's see
what am I driving tomorrow. I'm going to pick up
a new land Rover Discovery, the New Disco, which I mean,
I don't really think it's that exciting, but we'll be
(42:30):
a good car for the snow is on the road
right now. There's I mean, you know, our roads are
for the most part salted, but it's coming or at
least maybe freezing rain. We have on the East coast
one hundred million Americans under some sort of winter weather advisory.
Speaker 3 (42:49):
That's that's extreme. I hope you shouldn't use that truck
on the road.
Speaker 2 (42:55):
All right. That's uh, That's all I got then for
this week.
Speaker 3 (42:58):
Cool.
Speaker 2 (42:59):
Hopefully we get some some more good emails.
Speaker 3 (43:01):
Yeah, I think we will.
Speaker 2 (43:03):
Hot pursuit at Bloomberg dot Mat write us. I'm Matt
Miller and
Speaker 3 (43:08):
I'm Hannah Elliott, and this is Bloomberg
Bloomberg Audio Studios, Podcasts, radio news. I'm Matt Miller and
I'm Hannah Elliott, and this is Hot Pursuit.
Speaker 2 (00:20):
On today's episode. I want to talk about the mccon
EV because I know that you're driving it. I think
that Matt Farrah also bought one, and I haven't listened
to his podcast in a while, but otherwise I haven't
heard anything about the mccon EV, so I want to
get your take on that. I also want to talk
(00:42):
about some new lap records multiple set by the Corvette
z R.
Speaker 3 (00:48):
And I really like how I did this too.
Speaker 2 (00:51):
And I want to talk about BMW keeping a beat,
keeping the V eight in the lineup in the future.
Speaker 3 (00:57):
This is some great goodness.
Speaker 2 (00:59):
So those those three things, plus we can go back
and recap the auction of the car we were talking
about last week, the Mercedes are one twenty nine SL
six hundred. And I also want to ask you about
a rumor I heard speaking of Matt Farrah and one
of my former dream cars. Okay, okay, if it's legit,
if it's kosher to talk about that, I think so okay.
(01:20):
So let's start with the Macan Portia. Is I mean
sucking eggs in terms of the stock right, as we
were talking about last week. I know, I know they're
taking a huge hit. I think an eight hundred million
dollars or euro write down this year because of their
EV business.
Speaker 1 (01:37):
Yeah. Their profit margin is going to slump as low
as ten percent this year, which is half of what
management had floated before the IPO.
Speaker 3 (01:47):
Yeah. I think the stop stock, like.
Speaker 1 (01:49):
You mentioned, has is at its lowest as it ever
has been. Their market value is half of what it
was in twenty twenty three, and a lot of that
is do to problems with.
Speaker 3 (02:02):
Rolling out these evs, right.
Speaker 1 (02:05):
Yeah, and so and the evs are the Tayken and
the Macon.
Speaker 2 (02:10):
So so far those are the only two evs in
their lineup, right, Yeah.
Speaker 1 (02:14):
I mean we're still awaiting the Mission X, which is
the successor to the nine to eighteen Spider Hybrid, which
they had sort of floated as an electric vehicle, and
we don't have confirmation about whether or not that will
be electric.
Speaker 2 (02:30):
Yes, by the way, did I see you. I'm trying
to remember a couple of years ago before we started
this podcast, I was in Munich and the McDreamy.
Speaker 3 (02:39):
Guy from Patrick Dempsey.
Speaker 2 (02:42):
Gray's anatomy was talking about driving the Mission X in
like a some beer hall. I'm pretty sure I saw
you there too. Were you there too?
Speaker 3 (02:53):
I have been in beer halls and Muncheon, Yes, yes
I have. That could have been me.
Speaker 2 (02:58):
I mean, you don't forget when you see McDreamy right
talking about driving Porsche's that's true.
Speaker 1 (03:05):
Have you noticed that Orlando Bloom is now sort of
the new.
Speaker 3 (03:09):
Face of Porsche in a way?
Speaker 1 (03:11):
And I'm wondering is McDreamy feeling slightly replaced because now
there's another actor?
Speaker 2 (03:18):
Maybe they felt like he betrayed them in going to
Ferrari when he did that, when he did that movie
with Kylo Wren of Star Wars.
Speaker 3 (03:28):
I you mean Ford versus Ferrari.
Speaker 2 (03:31):
No, the Ferrari movie where Kylo played Enzo Wait Patrick
Depsey played one of the race car drivers.
Speaker 3 (03:39):
Oh my gosh, of course.
Speaker 2 (03:41):
You mean Penelope Cruz played.
Speaker 3 (03:44):
But what's the guy's name? The actor?
Speaker 2 (03:47):
Adam Driver?
Speaker 3 (03:48):
Adam Driver. There you go.
Speaker 1 (03:49):
Yeah, I don't know Star Wars references, but I do
know Adam Driver and and I think we decided that
Penelope Cruz was the reason to watch that movie, didn't
we decide.
Speaker 2 (03:57):
That loved her, and I think she was also the yeah.
Speaker 3 (04:01):
She's good, she's cool, mistress, she was a mistress.
Speaker 2 (04:04):
Yeah. Anyway, so let's get back to the car. I
expect any Porsche Electric or not to be amazing, so
as a baseline, right, is that fair?
Speaker 3 (04:16):
Completely?
Speaker 1 (04:16):
And I have to say the review for this I
still am in the middle of the test drive. The
review will come out early next week, and I was
so curious to try it because a lot of the
problems that we're hearing coming from Porsche have to do
with the implementation of the mccon specifically both software issues,
(04:37):
supply chain issues, delivery issues, delays at dealership, all of it.
And so the problem with doing a product test drive
is that probably none of those things are going to
come up in the three days.
Speaker 3 (04:51):
That I have to drive the vehicle.
Speaker 1 (04:53):
So my big disclaimer on this is that I am
not owning this vehicle. I cannot anticipate what would happen
after a month or two. And I also didn't have
to wait a long time to receive my vehicle, all
of which are legitimate complaints and problems. But when it
comes to actually simply driving the product for a week,
(05:16):
Matt To your point.
Speaker 3 (05:17):
It's very good. Yeah, it's to your point.
Speaker 1 (05:20):
Portia is not in the business of selling crap, and
it does exactly what it's supposed to do, and it
does it extremely well. I don't think you're going to
fall in love and have a heart to heart romance
with the Porsche Macon Ev. But in terms of driving performance,
(05:42):
and yesterday I drove it from my house in Hollywood
up Angelie's Crest to Newcomb's Ranch, and I did flog
it because I really wanted to see what the battery
was going to do in terms of retaining charge. And
from the base of Highway to up to Newcombs it's
twenty six miles and it's very hilly and windy, and
I lost I don't know ten percent maybe of battery charge,
(06:05):
which is so wow good, so good, And of course
it regathered a lot of that coming back down.
Speaker 3 (06:11):
It's so fast.
Speaker 1 (06:13):
I'm not gonna incriminate myself, but I would say that
you can definitely probably hit three digit figures easily in
this suv on highway too. It's incredibly fast. It really
smooths out the road over really crappy roads. I mean,
LA has really bad road surfaces, I would say that
(06:36):
it felt it's a heavy vehicle, but it doesn't feel sluggish.
You can feel the weight when you're going around a corner,
of course, but.
Speaker 3 (06:44):
It's not a sluggish weight. It's just it's just an suv.
Speaker 2 (06:48):
And and by the way, so you, I think, and
also me to some extent, we're spoiled by test driving
these really nice cars very much.
Speaker 1 (06:58):
So.
Speaker 2 (06:59):
Yeah, but for someone who who doesn't get a lot
of seat time in these one hundred thousand plus dollar vehicles,
the interior, the intuitive setup of Porsche, like the build quality.
It's so solid that I think someone who's not used
(07:19):
to it is struck by how well they do at
building cars electric or I see, is that is that
the case with this as well?
Speaker 3 (07:26):
Absolutely the case.
Speaker 1 (07:27):
It's true, you know, through and through from Porsche engineering.
Speaker 3 (07:32):
It's absolutely tight quality all all of that.
Speaker 1 (07:37):
And I remember saying back in the day before any automakers,
besides a few startups like Tesla, we're making electric vehicles.
I would always say the OEMs aren't not making electric
vehicles because they can't. They're waiting until they have to.
So by that, I mean, once Porsha decided it needed
(07:59):
to make.
Speaker 3 (08:01):
It knows how to do it, and it knows how
to do it well.
Speaker 1 (08:03):
This is this is not a startup trying to figure
out how to make cars, which I think is really
one of the negatives about many startup electric car companies,
which is they don't have experience making cars, and making
cars is very hard. A car is a very complex thing,
and so it's really nice to be in an electric
(08:24):
vehicle that is made by a proper car company because
PORTIONA knows exactly what it's doing.
Speaker 3 (08:30):
It's been making cars for almost what eighty years now.
Speaker 2 (08:35):
So in my experience, the NVH, which is kind of
the noise, vibrations, and harshness of electric cars, is more
difficult to get right than internal combustion engines. We've talked
about this before, but if you're driving a car with
a gas motor or diesel, especially, the motor itself makes
(08:55):
so much noise, so that's kind of the main thing
you hear experience, and if you're driving an electric car
you Alex Roy has talked about this. The road noise
is what you hear in experience, and any squeaks right,
any rattle, yes, if the headliner is loose and so
I think it's much harder to get it right on an.
Speaker 1 (09:16):
EV Absolutely, there was none of that in the Macon.
Of course, it has the you know this this synthetic
electric drone, which I'm not necessarily a fan of. You
can turn it off, although sometimes it wouldn't let me
turn it off, and I wonder I need to ask
Porscha about what instances wouldn't allow me to turn it off.
(09:39):
But you're right there. The inside of the car was
nicely quiet. There was an undue road noise. It just
feels like an actual proper vehicle.
Speaker 3 (09:49):
I would say.
Speaker 1 (09:50):
There are two charging ports, one on either side of
the car, and they're kind of tricky to open it
because you can push on the center screen. You can
push like a little icon to open them from inside
the car, and then to open them from outside the car,
you push your you put your hand on them, and
then they'll slide open and then I guess I was
(10:13):
told this in an email. They close automatically when you
drive away. It's not necessarily intuitive to like. It's not
just it's so easy as push this button to open
the charge port and then you can just.
Speaker 3 (10:25):
Push it closed.
Speaker 1 (10:26):
It's a little more complex than that that's a little
quirk that I didn't think was especially seamless.
Speaker 2 (10:33):
Yep, but I don't know.
Speaker 3 (10:36):
I think let's talk about it that way.
Speaker 2 (10:37):
I love so not a macn but yeah, on my
nine to eleven, and maybe on all of them, I
loved filling it up because the gas tank was on
the front.
Speaker 3 (10:50):
Right, like like an actual race car. Yeah, so cool.
It is so cool.
Speaker 1 (10:55):
I mean the minute you pull up at the at
the gas station and that's the setup and you just
get up, get out casually and just walk over and
like you know, Philip.
Speaker 3 (11:04):
Your car and everyone's feel special. It does make you
feel very cool.
Speaker 1 (11:09):
I am myself, and then you try to act like
you don't realize anyone's watching, but you know everyone is.
Speaker 2 (11:14):
Well. I'm going to try and be more level headed
or even handed when it comes to judging EV's because
we talked about this last week. Some readers, some viewers,
some listeners think that I'm too biased against EV's, And
yesterday I actually sat down with the new chief financial
(11:34):
officer of the Ford Motor Company.
Speaker 1 (11:37):
Yes, can I just finish on one spot on the
Macon So the MCON I had the turbo electric edition.
It's six hundred and thirty horse power, which was plenty,
and the price starts at one hundred and five thousand dollars,
which I actually think isn't crazy. The total price of
the one I drove was one hundred and thirty one
(11:58):
thousand dollars. It's significantly more expensive than like an Audi
electric suv.
Speaker 3 (12:05):
But I don't know. I don't think for this type
of buyer that's going to be a deterrent.
Speaker 2 (12:11):
Fin A macan buyer isn't the same as like a
Turbo S buyer, you know, a Kayak Turbo S buyer.
Speaker 1 (12:18):
You're right, You're right, But somehow I think perhaps, well,
this goes into a bigger question. I was going to say,
the person who's buying an all electric suv is already
a different animal, you know, they're not like they're they're
they're buying an EV for more of a philosophical reason
than a utilitarian one. But I would say, it seems
(12:40):
like people don't necessarily want electric Porsches, period, and that's
kind of what we're finding out, no matter how good
they are. Like this Macon, This electric Macon is great.
It's great in terms of how it performs and how
it's built and everything, but if nobody wants an electric
Porsche s, it doesn't matter how good it is.
Speaker 3 (13:01):
People don't want them. So that's the big question we'll
have to find out.
Speaker 2 (13:06):
Well, like I said, I'm trying to be more level
headed about or handed about EV's because of the critique
that I think is fair that we got. And I
sat down with the CFO of the new CFO of
the Ford Motor Company yesterday, Sherry House, who is so
like she clearly loves EV's. I was talking to her. Yeah,
(13:29):
and she's an engineer at heart. She started her career
at General Motors as an engineer, and she went to
the General Motors Institute the Kettering University, and then she
joined some She became an investment banker after her MBA,
and then she joined some tech companies. She worked for Waimo,
but then she went to Lucid and she was the
CFO of Lucid for a couple of years. She brought
(13:49):
them public. So that's pretty cool experience, yea, But she
still is. I mean, I could just get the vibe
from talking to her about a number of different issues
in love with EV's. You know, she says her family
obviously her husband also worked at Tesla, so she was
basically saying, like, you know, they've they've grown, not just
(14:10):
used to them, but they really appreciate them. I didn't
ask her directly about, you know, her relationship to EV's,
but I'm just from the conversation I had with her,
I was kind of jazzed up myself to give EV's another, sure,
another go. And obviously I'm going to be driving them
here and there anyway, but to do it with a
with a more open mind and to think about them
(14:32):
potentially more passionately.
Speaker 1 (14:34):
Yeah, I mean, it's interesting that she's at Ford now
because of course when we think of Ford, we we
don't necessarily think of EV's at all.
Speaker 3 (14:42):
So it's really interesting to hear.
Speaker 1 (14:43):
That there's someone who's truly passionate about them at this
old American company.
Speaker 2 (14:49):
Yeah, I mean I think of right or Wrong. I
think of GM because of the Hummer right and sure
the Sierra ev that I drove. Obviously, Ford has a
successful product in the Lightning, and they had the Maki,
which which Matt Farrah.
Speaker 1 (15:09):
Was driving for years before the year before you got
I think Matt kind of missed being in something electric.
Speaker 2 (15:15):
Yeah, you know, so I guess there are people out there.
Maybe one day I'll become one of them. Maybe you will, Hannah.
Speaker 1 (15:21):
Oh, I would totally take a Fiat five hundred e E.
And I know I keep beating that dead horse, but
that was the most fun.
Speaker 3 (15:29):
I would also take an electric vespa.
Speaker 2 (15:31):
That'd be cute or yeah, you know I would an
electric vespa.
Speaker 3 (15:35):
Oh, I would for sure take that.
Speaker 1 (15:37):
I would definitely take a zero electric motorcycle. To me,
the application of for electric motorcycles.
Speaker 3 (15:43):
Is so fun.
Speaker 1 (15:44):
And I know this may be sacrilegious to you, who
are wearing a Harley Davidson baseball hat as we speak,
But I got no skin in the game.
Speaker 3 (15:55):
Would give me an electric motorcycle? I don't care. I
think they're cool.
Speaker 2 (15:58):
No, I don't disagree. I don't know if cool is
the right word. I would for me. But I test
drove an Inergica innerjica is that how you say it?
Like ten years ago, and I had a great time.
I've ridden zeros, very interesting. If a vespa, If an
electric vespa was properly powerful and had decent range, I
(16:21):
would I would rather have that than like the four
stroke fifty or one twenty five that a salad rather
have an electric one. I just don't think they're quite
there yet, and I definitely would not I would not
want a live wire. I have to say.
Speaker 1 (16:35):
You know, I also wrote the live Wire when I
was still in New York, and I thought it was nice.
Speaker 3 (16:42):
I thought it.
Speaker 1 (16:43):
Yeah. To me, honestly, Harley is probably not my brand
of choice. Why wouldn't you want a live wire?
Speaker 2 (16:51):
It's just it's not what Harley's about or anything.
Speaker 3 (16:55):
Yeah, I understand.
Speaker 2 (16:56):
I mean Harley. I want Harley to be making motor
that I feel like are barely legal to make. You know,
they make two Leader twins. I can't believe they're not
regulated out of existence. And the sound, you know, I
don't want a catalytic converter on it or a muffler.
I just want straight pipes.
Speaker 3 (17:17):
I get it. Can we go back to Ford for
a second.
Speaker 2 (17:20):
Yeah?
Speaker 3 (17:20):
Can you talk about what you guys talked about or off?
Speaker 2 (17:24):
It was off the record, so no, I'll just say
I was really impressed with her resume. You know how
she came up through the ranks in Detroit and then
in California and did so much with Lucid And I'm
excited to see what she does it Ford. I'm excited
(17:45):
to see what Ford does. Frankly, you know, they've had
bigger and worse problems with EV's than anybody else. And
Jim Farley, the CEO, seems to be one of the
only big CEOs that's really I don't want to say
speaking out against the administration, but against the idea of tariffs.
Right if they have twenty five percent tariffs from Mexico
(18:08):
and Canada. Ford isn't gonna be as hurt as GM
or Stilantis. But he's the only one who's out there saying, hey, guys,
not a good.
Speaker 1 (18:18):
Idea completely, And I mean talking about Porsche if tariffs.
If tariffs actually happen, Porsa's gonna lose out considerably, you know,
even to the point where are they gonna have to
start making subs in the United States only because how
are they gonna make any money?
Speaker 2 (18:39):
Right? Well, and that would take imagine how long that
would take. Because I know they can't use the Folkswagen
plant to build their evs because it's it's tooled for
the wrong platform. They would have to build a factory
from scratch, right, and by the time they're done getting
that all set up. I mean, look at how long
Blue Oval City is taking in Tennessee. That would be
(19:00):
the end of the Trump administration, and who knows what
the next administration is going to do. You just can't
operate in the business environment with this kind of uncertainty.
And obviously the price increases on cars that already are
too expensive would be insane if we put in twenty
five percent tariffs.
Speaker 1 (19:20):
Well, yes, I just see this thing from Bloomberg Intelligence.
It says that if Trump increases tar off tariffs on
cars coming from the EU to ten percent that are
currently at two point five percent to ten percent, it'll
wipe out more than two billion euros of earnings before
interest in taxes.
Speaker 2 (19:39):
Now, in fairness, by the way, to US, we only
tear iff them at two and a half percent and
they tear iff our products at ten percent. So the
EU started this protectionist yes, sort of back and forth.
I think, you know, if they really wanted to send
(20:00):
a message to the Trump administration about no tariffs, they
should reduce the tariffs that they have on US vehicles.
By the way, By the way, I wanted to point
out this story on BMW because as you see, you
know EV's becoming not only accepted by consumers to some extent,
(20:26):
and we should point out there's still growth right in
EV sales. Sure sure, sure you do. See obviously, governments
are pushing and really trying to steer people towards evs
because most Western world governments think that they're greener and
phase out these bigger motors, right BMW after the my
(20:48):
Dream seven series in twenty twenty two, the seven sixty
will never make a V twelve again. And I don't
think they've made a ten cylinder motor since the M five,
like ten or fifteen years ago.
Speaker 3 (21:02):
Sounds about right.
Speaker 2 (21:03):
The V eight is the most cylinders you can get,
and I would have thought that's on the chopping block
soon as well, But apparently, according to Automotive News an
interview with the BMW executive, it's not.
Speaker 3 (21:15):
This is great news.
Speaker 1 (21:16):
And the main thing that I'm remembering now is like
when I first moved to New York, every person who
worked in finance had an M three basically, and most
of the M three's in that era were V eights yep,
which is great, and but even at the time I remember,
wasn't the M three switch to V eight around two
(21:38):
thousand and seven. Six.
Speaker 2 (21:40):
Yes, it was right after the.
Speaker 1 (21:42):
Right and people were concerned about that switch. But actually
that was a great car. And now at this point
we're looking back being like, wow, that was such a
great car. I wish I had one.
Speaker 2 (21:51):
Now at least I am true. You wrote a story
about that, right, the E ninety two. Yeah, yeah, yeah,
I prefer the E forty six M three. But I'm
older than you, so for me that was like in
my sweet spot. Yes, yes, but I still want BMW's
to BMW's to have V eight options in different you know,
(22:14):
for example, if I had an X five, is the
INLINE six sufficient, Yes, it really is. But would I
rather have the V eight the M fifty, Yes I would.
Speaker 1 (22:24):
I mean, I like, you know, I truly don't care
really as long as something gets the job done what's
under the hood.
Speaker 3 (22:30):
But theoretically I.
Speaker 1 (22:31):
Totally agree with you do we as BMW said, why
they're keeping the V eight other than it.
Speaker 2 (22:38):
Sells because Americans want it. No, it's just it's purely
American demand.
Speaker 3 (22:42):
Well that's simple, yeah, and that's how businesses work.
Speaker 1 (22:45):
I was gonna say, this is a great example of
the automaker listening to what consumers actually want and doing that.
Speaker 2 (22:53):
Yes, and but not being deterred by governments saying you
can in camp.
Speaker 1 (22:57):
Sure, And we all know the famous Henry Ford quote.
If I had listened to what people wanted, they would
have wanted a faster horse or something to that. Yes, effect,
And that's somehow supposed to prove that automakers have to
be visionary and forward thinking and plan, you know, decades
in advance, and all of that is true, but also
(23:18):
it's sometimes you get you overthink these things, and really
the best thing is to just give consumers what they want.
Speaker 2 (23:23):
Agreed. Yeah, The problem is consumers don't always want what
we want them to want, right. I think BMW should
sell a three series station wagon with the VA stick yeah,
of course in brown, but they won't.
Speaker 1 (23:39):
You know.
Speaker 2 (23:46):
You know what, speaking of consumers giving us what we want,
I want to talk about this Corvette story. Yeah, because
the z R one is already an absolute monster. One
thousand and sixty four horse power, right, eight hundred and
twenty eight pound feet of torque zero to sixty, not
that it matters, but two point three seconds and the
top feat of two hundred and thirty three miles an
(24:07):
hour yeah. I mean it's an absolute beast and it.
Speaker 3 (24:11):
Costs under It starts at like one hundred.
Speaker 2 (24:13):
And eighty or so, that one seventy four.
Speaker 3 (24:15):
Okay, So that to me, that's a pretty good deal.
Speaker 2 (24:19):
To be honest, it's I think amazing. I don't Yeah,
I personally wouldn't want one because I'd rather have a
Z six Okay, naturally aspirated you know V eight that
puts out more than six hundred horsepower tracks.
Speaker 3 (24:34):
That definitely tracks for you.
Speaker 2 (24:35):
But if you want the King of the Hill, this
is it. And there is a great story in Car
and Driver that the Corvette team went around to a
bunch of famous tracks in the US and just knocked
out lap records.
Speaker 3 (24:49):
This is honestly so cool. And they did it with
their own engineers.
Speaker 2 (24:53):
That's to me the most exciting part because you always
hear about, you know, these neurveburgering records. Square they hire
some amazing driver and they wait hopefully they get perfect conditions,
and you know that it's very much to me, it's
still controlled, and I think, well, I would never be
able to squeeze, you know, ninety percent out of that car.
(25:15):
I don't think I would be able to do it
in this car either, but GM has some obviously very
talented drivers working for them as engineers.
Speaker 1 (25:25):
This Aaron Link, the Global Vehicle Performance Manager, Yeah, out
there setting on vir setting course records.
Speaker 2 (25:34):
I mean he set so Aaron Link as you said,
Global Vehicle Performance Manager says, production car course record on
the full course and the grand course layout, and that
takes the title, at least the grand course title from
the twenty nineteen McLaren Senna.
Speaker 3 (25:53):
That is so cool and legit.
Speaker 2 (25:58):
Yeah, so lead performance engineer Bill Wise, I'm reading it
from Car and Driver.
Speaker 3 (26:02):
He set a new track record.
Speaker 2 (26:04):
At Watkins Glen. Brian Wallace, the lead vehicle dynamics engineer,
broke the production record at Road America.
Speaker 3 (26:12):
Chris Barber Stack Team.
Speaker 2 (26:14):
Chris Barber, the lead development engineer, broke the production car
record at Rhode Atlanta. I mean, how sweet is this?
Speaker 3 (26:21):
That is crazy?
Speaker 1 (26:21):
And I think we should also point out the McLaren
Center is a million plus dollar car, right, I mean,
so to beat that with this like homespun, seeming down
home group of guys who are the engineers and the
product managers out there burning it down in.
Speaker 2 (26:40):
A basically two hundred thousand I mean, I don't know
how much the total price was, but like we said,
the base price is one seventy four, one seventy five.
This one apparently had the ZTK Performance Package.
Speaker 3 (26:54):
Definitely they had. They had it souped.
Speaker 2 (26:56):
Up, but you can but these are things that you
can buy. These are options, right. It just adds a
rear wing, more aggressive spoiler, Michelin Pilot Sport Cup twos,
and beefed up suspension, the magnetic ride control.
Speaker 3 (27:11):
I'm sure it's probably a sports car.
Speaker 2 (27:14):
It's probably less than two hundred grand for the whole thing. Yeah,
speaking of value for money, let's talk a little bit
about this Mercedes auction that we were talking about last
last week. So my buddy Philip Richter had this Mercedes
R one twenty nine SL six hundred a two thousand
and one V twelve Mercedes, and you wrote a story
(27:38):
about these as well, the R one twenty nine.
Speaker 3 (27:40):
Yeah, they're so cool.
Speaker 1 (27:43):
They're the perfect era of like end of two thousand
and one is basically the nineties still, which is the
ultra cool ERAa of Michael Jordan and Chicago Bulls and
like the best era of rap and all of these
great things.
Speaker 2 (27:57):
Well, don't forget about grunge, right, I mean, oh yeah, Grunges, Wirld, Jam, Nirvana, Soundgarden,
Alison Chain's Hall nine inch Nails.
Speaker 1 (28:09):
I was listening to ring Finger this morning and thinking
that is a great.
Speaker 2 (28:14):
Song Jane's addiction. Yeah, I mean, so many insane bands
came out in the span of I think most of
those bands, says nineteen ninety nine until two thousand and one. Right. Anyway,
So this car, it's a halo car for Mercedes. I
don't think they put the V twelve in anything anymore either, right,
(28:34):
I don't think so. I mean they didn't stop for
a little while longer. But so Philip Richter has a
cream puff with only one one hundred and eighty six miles.
He puts it on bring a trailer through this other business.
This dude Dean auctions it for him. But this is
a car that he bought it from the first owner,
(28:55):
and it's always been serviced at the same dealer where
it was purchased, and it's perfect.
Speaker 1 (29:02):
So this wasn't a very interesting sale. I have to say,
I think he did pretty good for himself. Because I'm
on Hagardy dot com right now and I can see
that the average price for a two thousand and one
Mercedes SL six hundred in good condition is twenty five
(29:22):
thousand dollars.
Speaker 3 (29:23):
And this is way better than good Okay, so one
one in concor condition mint condish is only seventy four
thousand dollars.
Speaker 2 (29:33):
Okay, but this is even beyond that. I mean, this is.
Speaker 3 (29:35):
Still new in the read. It can't be that much
more beyond it.
Speaker 1 (29:40):
I mean, how much newer can you get than concor
mint condish.
Speaker 2 (29:45):
I don't know as much about these things as you do,
but I have seen forty year old virgin, so I
know that if the toy is still completely wrapped up
and no one has ever played with it, it's much
more valuable. I just.
Speaker 1 (30:00):
I do think it's a little weird that I got
a PR email about this car. This was after the
fact we had already spoken about it. But then I
did get an email from someone in a PR company
like telling me about the car, which is weird because
most cars I bring a trailer don't have a PR
company behind them.
Speaker 2 (30:18):
True, And that was as the auction was live.
Speaker 1 (30:20):
You got the email, right, which I mean that's a
little And then and then you know, to have the
there was one bidder who bid straight into one hundred
and eighty five thousand.
Speaker 2 (30:31):
All right, so we should say that the So the
the auction starts on February fourth, It gets a bid
for two thousand bucks, then a couple more driving up
to bids, and then all of a sudden, some dude
comes in and bids one eighty five.
Speaker 3 (30:46):
On some one swoops in and shuts everyone down.
Speaker 2 (30:49):
But this is still four hours into the auction, not
even right, yes, and then nothing happens for the next week.
Speaker 1 (30:57):
Crickets complete crickets for a week, and then on the last.
Speaker 2 (31:02):
Day someone from Dubai a dealership who.
Speaker 3 (31:06):
His track wreck.
Speaker 1 (31:07):
I looked at his sale, his winning history on bring
a jailer. He doesn't go for he doesn't go for
great looking cars. Let me tell you, this is by
far the best gar he's bought in a while. Just
bids one thousand dollars more and win wins with no counterbid.
Speaker 2 (31:23):
I can't believe he expected to even get it, to
be honest, if you see, it's been sitting at one
eighty five for a week, and then everyone's waiting until
the last course minute, and so he's like, all right,
I'll bid one thousand dollars over and then the dude
who was so enthusiastic that he bid one eighty five
God doesn't come back.
Speaker 3 (31:41):
There's no repartee, there's no retort, there's.
Speaker 2 (31:44):
No he loses the car for a grand.
Speaker 3 (31:47):
That to me seems so weird.
Speaker 2 (31:48):
To me, I'm doubly shocked because then I read through
the comments. There were like two hundred different comments, and
the window sticker was included in the pictures. Everything was included,
like the seller did an amazing job. The receipts. It
went for one thirty two new in two thousand and
(32:09):
one in today's money. I got to figure that's at
least double. Someone in the comments said in today's money,
that's two hundred and forty thousand. I also feel like
in Dubai the dealer is going to put that on
the floor and get for sure a pretty heaty profit.
Speaker 3 (32:24):
Yeah, that's it.
Speaker 1 (32:25):
I mean in Dubai, I'm guessing probably the market for
this type of car is not as as healthy. There
are not as many options for two thousand and one
Mercedes SL six hundred in Dubai. I'm guessing as in Neptune,
New Jersey, Right, so it's obviously going to be, you know,
(32:46):
a big fish and car.
Speaker 2 (32:48):
People love the designer, Bruno Saco, and this was like
his last great masterpiece.
Speaker 1 (32:55):
Right. I do think these cars are probably slightly on
the on the rise and value, no question about it,
this one. I mean, I just can't get over the
lowm To me, that's honestly such a turnoff. And I
just roll my like, oh, and that reminds me we
should talk about this email we got from a listener
(33:15):
name Rick, and thank you for writing Rick, And I
totally agree with Rick's point. He brings up a point
about the economics of quote unquote basically saving a potentially
valuable car in a garage.
Speaker 3 (33:30):
For its entire life.
Speaker 1 (33:31):
It costs money to store and ensure, and it's a
constant struggle against rust, dry rot, and nesting squirrels. But
what a smart investment.
Speaker 2 (33:39):
Yeah. No, And he's talking specifically about this SL six hundred,
So yeah, I have been thinking about this as well.
Like it not to be fair, my buddy didn't buy
this from the original purchaser, so maybe he got it
for less than the sticker, right, but sure, but I
(33:59):
agree with his with his I've always thought about this.
If you go and buy a car new, say I
go out and buy what's a car that, uh Portia
nine to eleven to car? Okay, you know I would
love to have one.
Speaker 3 (34:15):
I'd love to see you in one with that flannel
shirt you got.
Speaker 2 (34:18):
Or you know what, say I go and buy a
nine to eleven. St while we're on nine to eleven's right,
this is a car that's very limited. It's a it's
a dream car for sure, and you know it's going
to appreciate, or at least I assume it is over
the next few years guaranteed. But I figure twenty five
years for sure. Right then I put it away and
(34:39):
never drive it. If I bought one for two point
fifty and then you know, in twenty five years I
only got like three fifty for it, I would be
pretty bummed out and it would be a horror. It
would have been a horrible investment.
Speaker 1 (34:52):
Right completely, And think of all the money that you
spent to store it and ensure it exactly keep it running.
And this guy Rick such a good point. He says,
short of bubble wrapping a two point fifty gto, few
cars are going to beat the S and P five
hundred index if you're looking for a long term investment.
And that's so true, and like it just goes back
(35:13):
to this common sense thing where yeah, some cars gain
value over time, but most don't.
Speaker 3 (35:20):
And if you buy a car that.
Speaker 1 (35:23):
You truly like for yourself and you drive it, then
no matter what, you will have had a great investment
because you enjoyed it. And maybe you make money on
the back end, and that's a bonus. But the least
you can say is, hey, I lost some coin on this,
(35:43):
but I had so much fun in it.
Speaker 3 (35:44):
I was a happy trade off.
Speaker 1 (35:46):
You know.
Speaker 2 (35:47):
Yeah, I totally agree. By the way, on a side note,
I want to just tell you one thing that in
the car world, people may not have heard about this,
but in my day job as a financial news anchor,
there's a story that I can't get it over. And
you mentioned the S and P appreciation, right, Okay, the
S and P five hundred has done very well since
(36:11):
I was born in nineteen seventy three, like six thousand percent.
But gold has done even better. Gold is up more
like seven thousand percent. And I came across a story
this week that's not about cars, but I still think
you'll find it fascinating if you haven't heard. The US
Treasury owns like two hundred and sixty one million ounces
(36:35):
of gold right at Fort Knox under the Federal Reserve
year in New York. On its balance sheet. The Treasury
last valued its gold holdings the year I was born
in nineteen seventy three, at forty two dollars and twenty
two cents an ounce.
Speaker 3 (36:53):
Okay.
Speaker 2 (36:54):
This week gold traded for more than two nine hundred
dollars an ounce. Wow. The Treasury, on its balance sheet
is valuing its gold holdings at eleven billion measly dollars.
If they would mark their gold holdings to market to
today's price, it would be worth almost eight hundred billion dollars.
Speaker 3 (37:12):
So what does that mean for us?
Speaker 2 (37:14):
Well, for the US, what this means is we're undervaluing
the assets that our treasury holds. And okay, it's an
accounting issue. But what they could do through a repurchase
agreement with the Fed is say, listen, we'll sell you
this now and promise to buy it back later at
the same price. What you do is then the FED
(37:37):
creates seven hundred and fifty billion dollars and sends them
to the Treasury. General Account and then the Treasury all
of a sudden is sitting on more than seven hundred
and fifty billion that it doesn't have to issue in bonds.
And by the way, that's about one quarter's issuance in
US Treasury debt, So they could issue only three quarters
(38:02):
of dead that debt and they normally would in the year,
and I think could bring interest rates down dramatic.
Speaker 3 (38:10):
I think that's a genius plan. I think we should
advocate for that.
Speaker 2 (38:14):
I won't claim credit for it. I read this story
in the FT. Jillian Tett, who's awsome columnist, wrote about
it there, and today I was talking to on my
television show. I was talking to Kevin Hassett, who's the
director of the NA in the Trump administration, and I
asked if he'd thought about it, and he said he
hasn't studied the idea, but he thought it was an
excellent column in the Ft. He also read.
Speaker 1 (38:35):
It, well, does this for me mean I do have
a plug? I do have a gold plug, like I
do have someone who can get gold from Africa at
a good rate. Does this mean I need to buy
buy some buy more, buy a bar.
Speaker 2 (38:49):
No, I don't think it means Will. I don't think
it means much for the price. It wouldn't involve this
repurchase agreement actual sale of the gold. What I do
think it means is, so I was looking at Harley's today.
I'm so excited to go to Buston and ride motorcycles,
and I saw at least this dealership, Wolverine Harley Davison
(39:13):
in Michigan has got a special deal, a financing deal
one point four to nine percent zero down, which is
sick right, But I don't want a new Harley. I
want to buy an older one. And what are interest rates?
I mean, hopefully I can buy it in cash, But
if I were going to borrow money to buy an
(39:34):
older motorcycle, what are interest rates on a used motorcycle?
Probably like ten percent?
Speaker 3 (39:39):
Probably not that seems wildly high.
Speaker 2 (39:42):
No, but I mean used car interest rates are also
like nine, ten eleven percent. If you want to take
if you want to take a loan to buy a
used car, the lender isn't going to give you the
kind of rate he's going to give you on a
on a new car because there's more risk. Sure, Yeah,
I just if the Treasury would do this plan, maybe
(40:02):
we could get those rates down, more of us could buy,
more of us could finance vehicles.
Speaker 3 (40:07):
Well, that'd be good. I think that'd be good.
Speaker 1 (40:10):
I've never financed a vehicle, so I'm really speaking from
a hypothetical.
Speaker 2 (40:15):
Oh my goodness.
Speaker 1 (40:17):
Yeah, I only deal in gold bullion, wow, and corvettes.
Speaker 2 (40:22):
Anyway, that's my fun story of.
Speaker 3 (40:24):
What are you doing for Valentines?
Speaker 2 (40:26):
Let's talk for Valentine's Day? That's a damn good question. Actually,
I don't have a plan yet.
Speaker 3 (40:32):
Oh okay, never mind.
Speaker 2 (40:34):
No, but I'm thank you for reminding me. I will
make plan.
Speaker 3 (40:37):
It is Friday. You know, a little token doesn't have
to be much.
Speaker 2 (40:41):
I will do. I will be doing a little token
for sure.
Speaker 1 (40:43):
A photo times day, you know, a flower, just a
little remembrance.
Speaker 2 (40:49):
I probably will take my wife out to dinner. But
I hate that they charge more.
Speaker 3 (40:53):
I know they do. It's it's unfair.
Speaker 2 (40:55):
You know what I think I might do now, I'm
gonna try and get somebody not only to babies, hit
the cads, but to take them out of the house.
Oh that's great that I will cook dinner.
Speaker 3 (41:05):
But oh, that is so that it's wonderful.
Speaker 2 (41:08):
What about you?
Speaker 3 (41:08):
What's the We're gonna have.
Speaker 1 (41:10):
I'm actually excited about this because Valentine's Day is really tricky.
We're having a non Valentine's Day party on Valentine's Day,
and it's called a Bleeding Hearts Party, and we're inviting
a bunch of friends and it's just an excuse to
get together and hang out and eat cake and drink.
Speaker 2 (41:27):
But it's not a Valentine's It's specifically not a Valentine's Day.
Speaker 3 (41:31):
Point No.
Speaker 1 (41:31):
I mean, the cake's gonna be shaped like a heart
for fun. But it's a non Valentine's Day party on
Valentine's Day.
Speaker 2 (41:38):
But you can bring your Valentine.
Speaker 3 (41:40):
Sure, of course, you can bring your Valentine.
Speaker 1 (41:42):
You can be sweet, but it's not gonna it's like,
it's not gonna be any sort of thing that makes
is just like makes people who don't necessarily have a
Valentine feel.
Speaker 3 (41:53):
Any kind of way. It's just a party to see friends.
Speaker 2 (41:56):
Well that's nice.
Speaker 3 (41:58):
Yeah, it's an excuse that inclusive of you.
Speaker 1 (42:00):
Yeah, well you know, I'm all about it.
Speaker 2 (42:05):
And we'll be waiting on this mccon review on Bloomberg
dot com or on the terminal and then let's see
what am I driving tomorrow. I'm going to pick up
a new land Rover Discovery, the New Disco, which I mean,
I don't really think it's that exciting, but we'll be
(42:30):
a good car for the snow is on the road
right now. There's I mean, you know, our roads are
for the most part salted, but it's coming or at
least maybe freezing rain. We have on the East coast
one hundred million Americans under some sort of winter weather advisory.
Speaker 3 (42:49):
That's that's extreme. I hope you shouldn't use that truck
on the road.
Speaker 2 (42:55):
All right. That's uh, That's all I got then for
this week.
Speaker 3 (42:58):
Cool.
Speaker 2 (42:59):
Hopefully we get some some more good emails.
Speaker 3 (43:01):
Yeah, I think we will.
Speaker 2 (43:03):
Hot pursuit at Bloomberg dot Mat write us. I'm Matt
Miller and
Speaker 3 (43:08):
I'm Hannah Elliott, and this is Bloomberg
Hosts And Creators
Hannah Elliott
Matt Miller
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