Senior Vice President of Corporate Development & Procurement, Penske
Search every verified James Albertine interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. James Albertine, Senior Vice President of Corporate Development & Procurement at Penske, commented on the auto industry in September 2019. Discussing General Motors, Albertine said he found it "hard to see how" then-President Trump could "legally" remove GM's subsidies, noting that any such action "would take probably sometime" and would face appeals. He described GM's decision to pull out of car production as "many years in the making" and "a when decision," adding that Ford had already made a similar choice. Albertine stated that the move was "in the best interest of GM" and that a lot of autonomous vehicle development "remains in the United States." In a separate appearance, Albertine said that while auto stocks and valuations suggested a recession, from "the front lines" he did not feel that way, citing "very strong activities" and new SUV and truck products selling "extraordinarily well at record transaction prices." He noted that credit was "widely available" and that the industry did not feel "anywhere near a recession." Albertine also observed that people unable to rationalize a monthly payment for a new vehicle were transitioning to late-model used vehicles, which he said was not a suggestion of a "precipice of a major decline."
“I think we're in a recession when you look at auto stocks and valuations I don't feel that way you know from sitting on the front lines if you will a leadership level you know we're seeing a lot of very strong activities.”
“New products on the SUV and the truck side are selling extraordinarily well at record transaction prices credit is widely available it just doesn't feel as though we're anywhere near a recession again from the front lines.”
“We're looking very closely at tariff discussions and trade and the potential you know to have to pass through you know those price implications in the form of higher transaction prices at the dealer level.”
“Broadly you know we're seeing rationale for reasonably rational inventory levels I would even go so far as to say that you know we don't have enough inventory for the higher demand products on the SUV in the truck side.”
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