The UK enters the autumn with record tax levels, slowing growth, and rising investor unease. Rachel Reeves’ second Budget, now delayed until late November, only adds to the uncertainty.

I recently read MIT’s State of AI in Business 2025 report from Project NANDA (Aditya Challapally, Chris Pease, Ramesh Raskar, and Pradyumna Chari).

It’s hard to believe we are only eight months into 2025, given the sheer number of macro and market developments shaping the investment landscape.

Since the early 2010s, mobility has been one of the most dynamic investment frontiers, fuelled by the promise of electrification, autonomy, and new transport models.

As of 15 August 2025, Carvana (CVNA) is up ~75.4% YTD, while CarMax (KMX) is down ~28.8% YTD. Same economy. Same rates. Same used-car market.

Over the summer, I’ve been listening to a series of insightful episodes from the Car Dealership Guy podcast, which continues to offer an unfiltered look at the realities facing US retail automotive.