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Location: In a perfect world winter does not exist
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Lol. When I bought my car the dealer put some stupid theft ID sticker all over the interior of the car with id # and charged over 500 for it. I paid it cause the car was a steal of a deal.
Happened to drive by the local Ford/Lincoln dealer today and they had several rows of new F150s and really, more stock than I've seen since Covid. I'm not planning on giving them any business however, as I won't soon forget the $50k "market adjustments" they were leveling at the height of the insanity. I'm also starting to see more new car TV ads with financing deals. The CJDR dealership has been at what I would call "normal" inventory levels for a few months now. Honda and Toyota still thin.
How are things looking in your neck of the woods?
Nationwide, the F150 is the largest inventory at over 100,000 sitting on dealer lots. Any recent recommendations is to not buy. Wait until prices are adjusted. The smaller used car dealers are going to take the hits for overpaying trade-ins and overpaying for cars sitting on their lots. The three highest numbers of inventory include Ford, Chevy and GMC. Toyota, Kia and Honda are the least. Small cars are the ones in demand as of May 2023. Small trucks yes but not large (full sized) trucks.
Nationwide, the F150 is the largest inventory at over 100,000 sitting on dealer lots. Any recent recommendations is to not buy. Wait until prices are adjusted. The smaller used car dealers are going to take the hits for overpaying trade-ins and overpaying for cars sitting on their lots. The three highest numbers of inventory include Ford, Chevy and GMC. Toyota, Kia and Honda are the least. Small cars are the ones in demand as of May 2023. Small trucks yes but not large (full sized) trucks.
When you try and price a $50k truck for $70-90k and you wonder why nobody is buying?? market adjustment My neighbor friend went to Toyota dealer recently and put $500 down on a new Tundra allocation…basically they’ll let him know when that spec one shows up, it’ll be here late June/early July and no “market adjustment”. Sounds like some Ford, Chevy, and GMC dealers might/probably going under soon.
Did these dealers pay a higher price from factories for these market adjusted trucks? If so, they won’t be around long at all.
When you try and price a $50k truck for $70-90k and you wonder why nobody is buying?? market adjustment My neighbor friend went to Toyota dealer recently and put $500 down on a new Tundra allocation…basically they’ll let him know when that spec one shows up, it’ll be here late June/early July and no “market adjustment”. Sounds like some Ford, Chevy, and GMC dealers might/probably going under soon.
Did these dealers pay a higher price from factories for these market adjusted trucks? If so, they won’t be around long at all.
What’s more likely is Toyota will lose some brand loyal customers.
As customers go on Toyota lots to buy RAV4’s, they will be frustrated with no inventory and high mark up slightly used. They need a vehicle. They can’t wait another year or two for one to show up. They walk over to either Honda, Kia or Ford to buy a small SUV because of discounts and availability. In the end, Toyota will lose lifelong brand customers due to Toyota’s inability to have enough inventory and at competitive prices.
Toyota wishes they could turn excess Highlanders into RAV4’s. For Ford and GMC, they have to move their new inventory of 2023 and even 2022 before 2024’s show up. Ford has already said they will be increasing MSRP for 2024s, which will “incentivize” buyers into 2023’s; if you believe that will work.
Part of the problem isn’t buyer demand but loan denial for mid credit buyers showing up and not getting approved for $60,000 vehicles at 12% interest. It’s an overpriced market. Take off some of the over technology to lower the price.
What’s more likely is Toyota will lose some brand loyal customers.
As customers go on Toyota lots to buy RAV4’s, they will be frustrated with no inventory and high mark up slightly used. They need a vehicle. They can’t wait another year or two for one to show up. They walk over to either Honda, Kia or Ford to buy a small SUV because of discounts and availability. In the end, Toyota will lose lifelong brand customers due to Toyota’s inability to have enough inventory and at competitive prices.
Toyota wishes they could turn excess Highlanders into RAV4’s. For Ford and GMC, they have to move their new inventory of 2023 and even 2022 before 2024’s show up. Ford has already said they will be increasing MSRP for 2024s, which will “incentivize” buyers into 2023’s; if you believe that will work.
Part of the problem isn’t buyer demand but loan denial for mid credit buyers showing up and not getting approved for $60,000 vehicles at 12% interest. It’s an overpriced market. Take off some of the over technology to lower the price.
Yeah, it works until it doesn't. Carmaggedon incoming.
Every day gets worse for the automotive industry. Repos are up, interest rates are rising, and missed payments are now right at the same percentage as in 2008. Bubble is a nice word for it. Everyone is saying don’t buy right now, wait. Wait until the floor drops.
Already seeing “new” 2022 prices fall dramatically (over $5k). Floor is dropping, just slowly.
Actually my friend got that new Mazda CX-50 for under msrp with zero down, zero % interest. Her credit must be off the charts and Mazda is trying to get people to buy…
Actually my friend got that new Mazda CX-50 for under msrp with zero down, zero % interest. Her credit must be off the charts and Mazda is trying to get people to buy…
With fed interest rate over 5%, Mazda simply baked in the total price to make up for the zero percent. “Make up” still means they took a slight ding on their profit but it meant moving another vehicle to make room for surging inventory.
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market adjustment 
My neighbor friend went to Toyota dealer recently and put $500 down on a new Tundra allocation…basically they’ll let him know when that spec one shows up, it’ll be here late June/early July and no “market adjustment”. Sounds like some Ford, Chevy, and GMC dealers might/probably going under soon.
