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New vehicle sale prices fell below MSRP in March for the first time in nearly two years as supply chain issues continue to ease up, but cars and trucks are still far from cheap.

The average price paid for a new vehicle was $48,008 in March, according to Kelley Blue Book, a drop of $550 from the prior month.

"We’ve been anticipating transaction price declines, as inventory has been steadily improving and choice has expanded. More vehicles on dealer lots — and on their competitors’ lots — means dealers simply don’t have the pricing power they did six months ago," said Rebecca Rydzewski, Cox Automotive research manager of economic and industry insights.

Prices are expected to continue their downward trend, but are unlikely to reach the $37,736 average they were at in March 2020 anytime soon, if ever again.

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The average new car transaction price was over $48,000 in March. (Brandon Bell/Getty Images)

That is partly due to inflation, but also because many automakers have been focusing on building more of the most profitable high-end trims and discontinuing their lowest-priced models altogether.

The most inexpensive vehicle offered by an American brand is the new 2024 Chevrolet Trax SUV, which is $21,495, following the end of production for the $14,595 Chevrolet Spark hatchback last year.

Along with cuts by other brands, there are only three vehicles left on sale with starting prices including delivery fees below $20,000.KIA RIO/RIO5

The Kia Rio is the brand’s smallest sedan. (Kia)

The Kia Rio subcompact sedan starts at $17,875 and the Rio5 hatchback at $18,515.

Both front-wheel-drive models come standard with a 120 hp four-cylinder engine, automatic transmission, air conditioning and a highway fuel economy rating of 41 mpg.MITSUBISHI MIRAGE/MIRAGE G4

The Mitsubishi Mirage is the most fuel-efficient car that is not a hybrid. (Mitsubishi)

The Mitsubishi Mirage hatchback starts at $17,340 and the Mirage G4 sedan is just $1,000 more.

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The Mirage's claims to fame are that it is the least-powerful new car on sale in the USA — its three-cylinder engine rated at just 76 horsepower — and the most-efficient non-hybrid vehicle, with the hatchback getting an EPA combined rating of 39 mpg.NISSAN VERSA

The Nissan Versa is the cheapest new car on sale today. (Nissan)

The Nissan Versa sedan is priced at $16,925. It is roomy for the price and has a relatively potent 122 hp four-cylinder under the hood, a standard 5-speed manual transmission, automatic emergency brakes and a five-star NHTSA crash test rating.

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Models equipped with an automatic transmission start at $18,595 and have a 40 mpg highway fuel economy rating. A fully-loaded version with adaptive cruise control, heated seats and a wireless charging pad tops out at $20,215.

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Sports

George to ‘enhance’ program at Bowling Green

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George to 'enhance' program at Bowling Green

BOWLING GREEN, Ohio — Eddie George was pondering the next steps in his burgeoning career as a college football coach while driving back from the NFL scouting combine.

He got a sign in the most unlikely of places.

George was driving through Bowling Green, Kentucky, on his way back to Nashville when he received a text from Urban Meyer asking if George would be interested in returning to Ohio and being the coach at Bowling Green.

After a couple weeks of discussions, George was formally introduced on Monday as the 21st head coach in school history.

“It feels like a whirlwind. Last week felt like a whole month in terms of the interviews and the process,” George said during his introductory press conference at the Stroh Center. “This is not going to be an easy process. We still have a lot of work to do to get across the finish line.”

George replaces Scot Loeffler, who left Bowling Green on Feb. 28 to become the Philadelphia Eagles’ quarterbacks coach. Loeffler had a 27-41 record in six seasons, including bowl appearances the past three seasons.

Meyer, who coached BG for two years before going on to Utah, Florida and Ohio State, was one of many former coaches and players that athletic director Derek van der Merwe had discussions with about candidates.

George returns to Ohio — where he won the 1995 Heisman Trophy at Ohio State — after being the head coach at Tennessee State for four years. He had a 24-22 record and took a program that had struggled to its first Football Championship Subdivision playoff spot since 2013 this past season.

The Tigers went 9-3 in 2024 and won a share of the Big South-Ohio Valley Conference. George was named coach of the year and was a runner-up for the Eddie Robinson National Coach of the Year award.

Bowling Green was originally supposed to start spring practices on Wednesday, but that will be delayed a couple of weeks as George finalizes his coaching staff.

“I wouldn’t say it’s great timing. But when I took over at Tennessee State, it was in the spring, ironically. It took us some time to get there, but we got there,” George said. “I think now the goal is how do we get to September? It’s going to take diligence for us to be focused, operate with a great attitude and be intentional.”

George played nine seasons in the NFL, including eight with the Tennessee Titans. He was the 1996 AP NFL Offensive Rookie of the Year and an All-Pro selection in 2000. He finished with 10,441 yards rushing with 268 catches for 2,227 yards and had 78 total touchdowns. He was inducted into the College Football Hall of Fame in 2011.

George also interviewed with the Chicago Bears for their head coach opening in January.

Besides coaching, George has been an actor who appeared on Broadway in New York, along with other business interests. He also has taught as an adjunct professor at his alma mater Ohio State and Vanderbilt University.

“After meeting with Eddie, it became very clear to me that Eddie checked every aspect of that profile that we created. He is someone who cares about people, values, personal growth and development, defines himself by his ability to adapt, adjust, and have success in every aspect of his life,” van der Merwe said.

George spent the 2004 season with the Dallas Cowboys before retiring in 2006. His wife Tamara “Taj” George is a member of the group Sisters with Voices (SWV) and they have two sons. Eriq George has been a starting defensive end the past two seasons for Tennessee State.

Bowling Green has been a successful springboard for past coaches. Besides Meyer, Dave Clawson and Dino Babers had successful tenures that propelled them to jobs at Wake Forest and Syracuse.

However, this could be a rebuilding year for the Falcons. All-America tight end Harold Fannin Jr. is a top prospect in the upcoming NFL draft while wide receiver Malcolm Johnson Jr. and quarterback Connor Bazelak are graduating. Running back Terion Stewart transferred to Virginia Tech.

“We don’t stray away from what made this program successful. I’m not here to blow it up. I’m here to enhance it,” George said.

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Technology

Fintech stocks plummet as Wall Street worries about consumer spending, credit

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Fintech stocks plummet as Wall Street worries about consumer spending, credit

People wait in line for t-shirts at a pop-up kiosk for the online brokerage Robinhood along Wall Street after the company went public with an IPO earlier in the day on July 29, 2021 in New York City.

Spencer Platt | Getty Images

It was a bad day for tech stocks, and a brutal one for fintech.

As the Nasdaq suffered its steepest decline since 2022, some of the biggest losers were companies that sit at the intersection of Wall Street and Silicon Valley.

Stock trading app Robinhood tumbled 20%, bitcoin holder Strategy fell 17% and crypto exchange Coinbase lost 18%. Much of the slide in those three stocks was tied to the drop in bitcoin, which fell almost 5%, continuing its downward trajectory. The price of the leading cryptocurrency is now down 19% in the past month, falling after a big-post election pop in late 2024.

Beyond the crypto trade, online lenders and payments companies also fell more than the broader market. Affirm, which popularized buy now, pay later loans, dropped 11%, as did SoFi, which offers personal loans and mortgages. Shopify, which provides payment technology to online retailers, fell more than 7%.

JPMorgan Chase fintech analysts on Monday highlighted declining consumer confidence as a potential challenge for companies that rely on consumer spending for growth. In late February, the Conference Board’s Consumer Confidence Index slipped to 98.3 for the month, down nearly 7%, the largest monthly drop since August 2021. Walmart recently reported a shift away from discretionary purchases, underscoring the potential trouble.

“Our universe has modestly outperformed the S&P 500 since the election, but sentiment has soured of late on declining consumer confidence and signs of slowing discretionary spend,” the JPMorgan analysts wrote.

The fintech selloff follows a strong rally in the fourth quarter, driven by Fed rate cut expectations and hopes for a more favorable regulatory environment under the Trump administration.

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Environment

Tesla (TSLA) insider trading: Elon’s friend James Murdoch just unloaded $13 million

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Tesla (TSLA) insider trading: Elon's friend James Murdoch just unloaded  million

James Murdoch, a Tesla board member and friend of CEO Elon Musk, has confirmed that he sold about $13 million in stock today as the stock (TSLA) crashed.

There has been a lot of insider trading at Tesla lately, and by trading, we mean selling – cause no insider is ever buying at Tesla.

We recently reported on Kimball Musk, Elon’s brother, and Tesla’s Chief Financial Officer Taneja Vaibhav recently selling ahead of a recent drop in the company’s stock price.

Tesla’s chairwoman, Robyn Denholm, also sold $33 million worth of Tesla shares last week and over $100 million in the last 3 months.

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Now, it’s James Murdoch’s turn. The Tesla board member just confirmed, through a required SEC filing, that he sold 54,776 Tesla shares for just over $13 million today:

He sold as Tesla’s stock crashed 15% today. It is now down more than 50% from its all-time high just a few months ago.

Murdoch was appointed to Tesla’s board in 2017.

He is better known as the son of media mogul Rupert Murdoch and the former CEO of 21st Century Fox from 2015 to 2019.

Murdoch was one of the Tesla board directors who was forced to return almost $1 billion in cash and stock options to Tesla as part of a settlement for over-compensation.

Electrek’s Take

Tesla insiders are unloading, and those are just the ones we know about. Public companies only have to report insider trading for board directors and listed top executives.

For the latter, Tesla purposefully only lists 3 people: Elon, Vaibhav Taneja, Tesla’s CFO, and Tom Zhu, whose role at Tesla has bit quite fluid in recent years.

Therefore, we don’t know about the dozens of other top executives potentially selling their shares right now amid a giant correction.

It’s really suspicious because there are clear top leaders at Tesla who are often on Tesla’s earnings calls, and they are not even listed, like Lars Moravy, for example.

But it’s par for the course at Tesla, which has some of the worst corporate governance I have ever seen. It’s truly shameful.

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