Automotive News Daily Drive · Automotive News

March 5, 2026 | Pinewood.AI CEO on why Apax deal fell apart; buyers stretch loans to 7 years

·23 min·1 clip

Bill Berman says Apex reached the “11th hour” before pausing because of “noise and disruption” from Anthropic.

1. Automotive News Daily Drive for March 5, 2026 focuses on Iran-linked shipping delays, longer auto loans, and Pinewood.ai's failed Apex Partners deal. 2. Jake Neer hosts from Detroit and introduces Riley Hodder, who covers auto retail lending, and Bill Berman, CEO of Pinewood.ai, who explains the stalled private-equity acquisition. 3. The episode asks whether global supply shocks, record vehicle prices, and AI-fueled software fears are changing how the auto industry sells and finances cars. 4. The Iran conflict is delaying shipments from India-based automakers to the Middle East and North Africa. 5. Jake Neer says the Strait of Hormuz has become effectively impassable, forcing rerouting around South Africa and raising emergency surcharges of up to $2,000 per container. 6. He names Tata Motors, Suzuki, Hyundai Motor India, and Volkswagen's local unit as companies holding back shipments. 7. Neer and the report say wealthy shoppers are keeping sales afloat while lower-income customers struggle with slower wage growth and higher costs. 8. Cox Automotive's Jeremy Robb says higher-income shoppers are doing fine, while NADA's Patrick Manzi calls the situation manageable for dealers. 9. The show says vehicle ownership expenses rose 48% from 2019 to 2025 once insurance, maintenance, and fuel were included. 10. Edmunds data shows just under 21% of new-vehicle buyers financed for 84 months or more in the fourth quarter, and the share has climbed for three straight years. 11. Kelley Blue Book is cited for record average new-vehicle prices in December, which helps explain why buyers are stretching payments. 12. Riley Hodder says a dealer in Kokomo, Indiana sees two kinds of lenders: some weigh credit history carefully, while others lend to anyone who fits the term. 13. He gives Capital One as an example of a lender that looks closely at accreditation, score, and payment history before approving a long term. 14. Hodder says the risk of future negative equity is more likely to come from lenders that offer long terms with little filtering. 15. The dealer Hodder spoke with says sales staff need to balance getting the deal with warning customers about higher interest and repair costs. 16. Hodder adds that many dealerships lack the time and resources to hold long conversations about whether a seven-year loan is a good fit. 17. Bill Berman says Pinewood.ai won two awards at NADA and signed deals on the show floor, which he says exceeded expectations. 18. He says Apex Partners got to the 11th hour on a take-private bid, then paused after Anthropic and Claude spooked software investors. 19. The interview has a straightforward business-news tone, with Jake Neer pressing for specific numbers and concrete examples. 20. Listeners who follow auto retail financing or dealer technology will get the most out of it, while people avoiding industry strategy talk may skip it.

As heard by us

A compact look at auto-market strain, software fear, and the pressure still keeping deals moving.

Daily Drive pulls together geopolitical disruption, demand split by income, and the longer auto loans now needed to meet record prices. The Pinewood.ai stretch is the sharpest part, with Bill Berman laying out why Apex Partners backed out and why AI disruption fears are rattling…

Read the full review in PlayNext →

Why you'd press play

You want the pressure points behind auto shipments, stretched financing, and an AI-spooked software deal.

Read the full recommendation in PlayNext →

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