The new and used vehicle market has taken its final blow... Last quarter we saw record sales take place, that isn't because the car market is back to normal, it's due to dealers slashing the prices on their inventory. We have so many brand new 2023 models still just filling up dealership lots (in April of 2024!) That's unheard-of. Huge discounts and incentivized interest rates are what led to the high sales figures last quarter.

In this video I talk through some new stats, facts and figures that are quite alarming. For these reasons, the new and used car/truck/suv market is showing signs of a huge downward swing. If you'd been on the fence of buying a new vehicle, watch this video... 2024 just might be your year to capitalize on it! I love it because NOW, a dealership's reputation actually matters... Whereas during the pandemic, dealers could treat customers like a number. Like another brick in the wall. The dealers that took advantage of people these last few years will truly struggle, and I'm okay with that. How about you?

Here are some points I discuss in this video:
- Manufacturers are dropping MSRPs… slowly but surely.
- Jeeps… Cherokees, Pacifica, F150 Lightning, not enough $2K cherokees
- Cheap vehicles are becoming more and more popular… Chevy Trax, ford Maverick, Nissan frontier,
- MSRP hikes 36%
- Markups are dwindling… TRX, TRD Pros, Siennas, Rav4s, Raptors (not R), RS6, G wagons… let me know the worst markups you’ve seen.
- New vehicles… especially new trucks are 15-20% overpriced now. So 10% discounts don’t mean much…
- Jeep over 60% price increase in last 5 years
- It’s becoming a clear Buyers market
- Incentives keep getting stronger…
- Prices paid are going down… $47,200 average transaction price
- Just under $50K during pandemic
- Dealers are having to slash costs… floor plan costs are bleeding them dry. Wholesale auctions are no longer a reliable parachute.
- $50K at 3% …$3900 in interest 60mo ($895 monthly).
- $50K at 9%… $12,275 in interest 60mo ($1038 monthly).
- Ford sales up 6.8%… inventory is going up much faster haha
- Same for Tundra… 15,337 tundra sold in March, 11,247 Feb, 9,631 Jan.
- Inventory levels 3M+ available new…
- Like this because it’ll weed out the greedy dealers. Greedy dealers will drown themselves…
- New deals better… used values plummet as a result. Good and bad…

What do you think is next for the new and used vehicle market? Will it get better before it gets worse? Let me know.

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-Stay Untamed...

#carmarket #marketcrash #vehiclemarket

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