ð [ 3 ] Latest News SHOCKS The Car Market! Dealers Cant Survive This! [ @ ]
( 30564 viewed : 1274 like : 306 comments ) The car market is in a state of paralysis right now. Dealership inventory levels are through the roof. Many dealers are being forced to close their doors, they just can't stay afloat. In today's video I talk through a new grouping of facts, stats and figures that explain what got us to this point. The car market is crashing before our eyes, what comes next? In this video I talk through he following points:
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2023 and 2024 models are still covering lotsâĶ 25s are now arriving.
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Lot rot becomes a point of consideration
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Large price cuts must happen
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During pandemic weâve normalized high car payments and overspending
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Discounts are happening on vehicles that were recently marked up!
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Raptors, Bronco Raptors, TRD Pros, TRXs, Escalades, Yukon XL Ultimate Editions, gx550 Overtrails, etc..
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Huge discounts mean nothing if your Trade In value went down even more than the savingsâĶ
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$10-15K off a vehicle thatâs overpriced by 30K still isnât a win.
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Stellantis CEO recently resignedâĶ laid off thousands of employeesâĶ
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Nissan to layoff off 9K people.
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Many dealers are losing money month to month. More than 50% of Nissan dealers
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Dozens of dealerships that have been around for a long time have closed their doors this year. Ford, Lincoln, GM, Jeep Dodge Ram, Fiat, etcâĶ they just canât stay afloat.
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They redirect inventory to higher turnover locations under the franchise.
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Vehicle manufacturers are still living under the pandemic fassadâĶ inflated price tags on everything. Prices of vehicles have far outpaced wages and salaries of Americans.
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The vehicles in the 25-35K range are actually selling. Because people can actually afford.
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Toyota doesnât know how to handle an inventory crisis. Many Tacomas and Tundras are showing 200+ days on lots.
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Backlots are filled to the brim.
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Dealers canât even hide their inflated inventory levels.
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Dealership employees are quittingâĶ salesmen are leaving. No vehicle sales means minimal paychecks.
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Stock values have come crumbling for auto makersâĶ 50% for StellantisâĶ Toyota has seen a huge drop too. $250 per share back in March is now $175.
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Dealers need to cut losses right now to earn customersâĶ re-earn the loyalty they burned during the pandemic.
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Too many dealers apply a near-sighted business model and refuse to look at the big picture.
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Across the board, MSRPs continue to rise while quality diminishes.
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Toyota wants to put out âthrow away vehiclesâ 3-5 years cyclesâĶ vs 10-25 years
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The dealers that charged markups are kicking themselves.
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New average new vehicle price is $48,401
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MSRPs have gone up 42% since 2019
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Wages have gone up 34% since 2019
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Average auto loan monthly payment out on a new vehicle is $760âĶ 1/6 auto loans are over $1000 per monthâĶ and 1/5 auto loans applied were denied last quarter.
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Prices of rent, mortgage, insurance, groceries, etc have gone up in drastic ways tooâĶ rendering it nearly impossible for Americans to keep up.
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Average 2 adult with 2-3 child household income needed to live comfortably now in the US is between 215-230K depending on region. There are 6 cities that require 300K to live comfortably.
As always, I sincerely appreciate you taking the time to tune into these videos. If you find any value in this type of content, please consider Liking and Subscribing...your support means a lot and certainly doesn't go unnoticed.
-Stay Untamed...
#carmarket #marketcrash #vehicles
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