The Great Reset of 2024 has BEGUN! CAR MARKET COLLAPSE!
ฝัง
- เผยแพร่เมื่อ 12 ต.ค. 2024
- The great car market reset of 2024 has started! There is no denying it. Between the insane inventory levels, huge discounts and incentivized rates... dealers are getting desperate. Desperate times call for desperate measures.
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#dealership #carmarket #markettrends #marketcrash
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VIDEO NOTES:
Layoffs are ramping up within the automotive business industry… production line workers & dealership staff/salesmen.
Repos surge 23-24%
22% of all auto loans last couple of months were denied… 1/5 auto loans applied for DENIED!
MSRPs are dropping in some cases... Like for the Ford Bronco Raptor.
Banks are tightening up, often requiring buyers to have a larger down deposit with excellent credit.
Banks won’t fund marked up vehicles… Which is great!
Dealers are kicking themselves for being greedy throughout the pandemic… ruined customer loyalty.
Nearly half of all Nissan Dealerships are losing money right now….
Stellantis’ stock has dropped over 50% since the start of the year!
Cut production… Ford, Stellantis, Nissan, GM has been doing layoffs.
Everyone in the car market right now is feeling the pain…
Inventory levels across the board are increasing.
Average across the industry is over 75 days on market!
Floorplans are costing dealers a ton…
Dealers are turning away allocations! Which is driving 10-20K discounts!
Nissan and Mazda had to make some extreme incentivized offers to move inventory.
Trade-In Values are trash though.
Interest rates haven’t subsided much… Still 7-10% with Excellent Credit.
Insurance rates have over doubled in the last 5 years…
Many states have seen an over 50% increase over the last year!
Hurricane doesn’t help… insurance fraud.
Housing has gone up tremendously… cost of groceries… cost of living overall hasn’t let up!
People are struggling. People are just doing whatever it takes to just hold on…
Cheap vehicles are selling. That’s it.
Wholesale prices are looking bleak… consumer retail always lags behind (3-4 months).
Average negative equity has risen to $7K.
What’s next:
Prices of vehicles have consistently dropped over the last year.
It’s by all contexts of the phrase a “buyers market." You can be choosy.
Lightly used vehicles will offer huge savings again!
But be careful buying used… many of them now are repos
You can expect great incentivized rates AND the discounts. Get both.
Be patient, prices will continue to fall!
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$10K off when they were $25K up. Still getting screwed.
Let them pile up.... need 50% discount....
%50 not enough. We need %80-90 off and %1-2 APR.
Yep!
LOLOLOL! You probably still wouldn’t buy! 🤣
That’s unlikely
GM would get a bailout before GM lets the price of their trucks to drop that much.
The price of everything doubled while salaries increased 2-4%. But we're supposed to be buying everything as usual 🤪
In my opinion it still is NO buyers market. I am just hoping my 12' Altima that's been bulletproof in it's 13th year on the road can continue to be. Also bulletproof thus far has been my ORIGINAL CVT transmission.
Even $10k is absolutely not enough. That’s literally a joke!
Exactly
U told me to hold off until last May for big deals. Well, I'm still driving my old car.
Funny that the discount prices they’re giving should have been the original selling price in the first place. What a joke these dealers are.
The manufacturer sets the price not the dealers
Marking something up 30% and then offering 10% off is still not a good deal.
I’m going to call absolute bullshit on this video. M currently shopping for a used Tacoma and dealers are not budging. I went to a Nissan dealership to look at a 2019 Tacoma which they had priced at $33k. They told me out the door was $40 after dealer add ons and ttl. I have an 814 experian and $10k down and they let me walk after I offered $33k out the door. I’ve called probably 10 dealerships nationwide looking at 20 or 21 viidoo blue Tacoma and almost all have come back at 38-40k out the door and not 1 would budge. You’re simply making click bait at this point. Go try and buy and I promise they are not in panic mode.
Same here man...these dealers don't give af about losing money. They are not budging im actually in Miami and have a pretty solid fico 8 too.
Same. I'm not seeing much budging. In fact, took my wife's car for an oil change and inspection recently. While there they asked if I'd consider trading up. I listened. They didn't budge much at all on the car and the trade value they offered was a joke. No thanks. UM is right about INSURANCE COMPANIES ripping folks off. Something needs to seriously happen there for real! My insurance nearly doubled since last year WTF!! 🤬
Try Avondale Toyota in Arizona. They never sold over MSRP during pandemic. But with used inventory I am not sure.
I got $7k discount on tundra and they gave me $50k on my 2024 grand highlander that i paid $53k for it last December in NJ and still walked away i wanted $11k
West Houston lexus/Toyota dealership are still charging market adjustment in different forms. Plus, they are hiding their cars in the back of the dealership and few cars are only at the front lot. Shame on them.
Very unstable times we are living in today. As far as auto manufacturing is concerned I think the best thing manufacturers could do is to begin producing dependable vehicles with far less bells and whistles........get back to basics.
They can't produce those. If they did they would sell a vehicle every 20 years or so. The way they are making them now they can sell one every 10.
@@MechE11B What's your recommendation ?
Wonderful News For Now= Before Everyone In Florida, North Carolina, Georgia, South Carolina, Alabama,West Virginia, Virginia and Tennessee need Cars
Before the collapse the used market needs to ease. The problem here is used cars are so expensive that dealers can get away with charging high prices for vehciles.
Supply and demand but a used vehicle or less expensive vehicle has cheaper insurance which is crazy now here in CA
It can't crash enough
Another excellent video. The chickens are coming home to roost. And yes, if we are going to pay inflated MSRPs, I would expect it to benefit American, not foreign workers.
What worries me is since they are not selling due to being overpriced, companies will stop producing the models we love stating decreased sales. They may stop producing LandCruiser, Bronco, Sequoia, and other off road focused vehicles.
The dealers were a little bit greedy and stupid, but the reason of the crazy price was Fed print too much money and use the US dollar as the weapon, now we are all suffering.
Great video, so informative! I'm still in wait for market stability mode to buy a truck. This is encouraging to me.
When you say "wholesale" are you referring to the new car market, where the dealer buys from manufacturer?
When people either can not or will not purchase then production decreases and prices eventually fall but perhaps not that much as they wait for demand to purchase the available inventory...depending on the severity a recession could loom in the background.
Which one it's better, hybrid or non-hybrid?
The number one selling car in a 45 day period is already the 2024 4Runner. Prices up ridiculously and quality is slightly down smh
And you forget one othet element to this crisis; Millions & Millions of recalls!!! What happened to quality control???
I would be curious to know if Honda, Mazda, Kia and Hyundai are doing the same things. You've covered GM, Ford, Stellantis and Toyota. Curious how the others are doing.
Great video as always
Still rocking my PAID OFF 2015 Toyota Sequoia, and will for some time with these crazy prices . . .
that's mean the cost of production for single vehicle include R&D is way less the MSRP but manufactures want to make more profit and using inflation as their excuse
I don't see any discount at the dealerships, same high price like last year. What you guys talking about?
I have been shopping for a '24 or '25 new or used (less than 5k miles) Honda Passport Black Edition in a 500 mile radius of Atlanta since June. 10% below MSRP is relatively easy to negotiate but in many cases dealer add ons wipe most of the discount out. No better discounts offered on the new '24 models on the lot even with a '26 redesign expected the first part of next year. Low mileage used prices within $2k of new vehicles make them almost not worth buying even though they have the CPO warranty. In the case of new, I can't see paying the current asking price for a car with '19 technology that is about to be replaced with a new design, though there is something to be said about the current proven platform.
No person ever has said "Have 4 kids, it will be fun."
one is a lot of work , best when they move out and no longer on the payroll
Fun making them
These companies have two choices sell them at a extra large discount or risk going out of business between 60to a 100plus k for a truck that doesnt come with a V8 but a small under strength engine that probably wont last 100k miles
Major head scratcher. Where did they think the money was coming from? Rent, property taxes, Home/Auto insurance, Groceries, Childcare all through the roof. All the while wages NOT keeping pace. All the sharks decided they would ALL eat at the same time and are surprised there's little to go around. TF
Best automotive content on TH-cam! Keep it coming
Disagree. In my opinion the Car Car Nut videos are by far the best. You get total honesty.
I got $7k discount on tundra and they gave me $50k on my 2024 grand highlander that i paid $53k for it last December in NJ and still walked away i wanted $11k
Good content
I think Chevy’s latest 0% offer is for 36months not 72 and it’s either the low finance rate or cash on the hood not both. Just what I’m seeing on their website. Maybe the dealerships can combine offers if negotiated ??
Crazy that you can get a full size truck from another brand for the same price as a Tacoma.
Tacoma lovers will buy one regardless, you must own what you want to be satisfied 😅
It's not a buyer's market until the prices come down by 50% or more.
Or average incomes go up by 20-30%
I just don't understand why anyone would pay $55K for a TRD Off-Road when they could get a Colorado ZR2 for $50K. Dual lockers... 33" tires... excellent shocks... aggressive looks. Other than the "bUt It'5 a t0yOta!!!" crowd, who in their right mind would pick the Tacoma?
Great vid… look, it’s simple…we need to go back to a pre-pandemic car industry, car market conditions because what these greedy corporates are doing is completely backfiring on them, assembly line workers, dealerships…and the American consumers…we need to go back to quality made vehicles that truly equate to the amount of money/investment by the consumer…quality by way of again being made here in the US, not outside, fair pricing, reliable vehicles, traditional powertrain platform…because another reason US buyers aren’t buying these cars is because their purchase no longer supports American workers when car manufacturers outsource to poor countries where quality is apparently not a factor…at least according to…well…Gen 4 Tacoma owners..many who have posted vids showing their trucks made with cheaper materials, poor assembly quality, and at a price that just doesn’t make sense…especially when Toyota SAVES money on cheap, foreign labor pay…but instead of passing along savings to the consumers..like how other products, most of em made in China…are affordable because of foreign, cheap labor production…Toyota corporates jack the price up at ridiculous proportions….so yur paying what you can’t or barely can afford, and all your money is now getting you less vehicle because of poor quality, not to mention these ridiculous turbo platforms that “overdrive” these small displacement engines that are gonna have no chance at reaching 100k miles…so at this point, you’re basically throwing money out the window when in 10 years or less yur gonna need a new vehicle…it’s just a horrible time to buy a car, hands down!!! The $40k Frontier pickup, naturally aspirated 6 cyl 4x4 is exactly!!!’ EXACTLY what we need to go back to…the fact that dealerships are going broke because their inventory is sitting endlessly on lots, production jobs lost due to outsourcing and greedy corporate MSRPs causing brand new vehicles to basically rot because either we refuse to pay those ridiculous prices after all things mentioned above, or probably more frequently, people just can’t afford those prices…it’s just insane, never heard of consumer punishment as far as I’m concerned….it’s just more greed on top of already existing greed “laying waste”to middle Americans…and honestly, who wants a vehicle sitting on the lot for months on end, out in all the “elements”…do dealers even drive any of em to keep them in running condition?? who’s begun thinking Americans are stupid and will just simply say…after everything I just said above…” oh well, I’m gonna buy anyway” …🤷♂️…I guess if there are those who are gonna pay those prices anyways, greedy companies are gonna to continue to get away with those asking prices causing the major of us (middle Americans) to suffer without🫤
Im glad to hear dealerships are doing bad, they have been taking advantage of customers
I saw a dealership in Jacksonville with discounts of 3 vehicles with $25k off
I'll believe it when I see it. Dealers need to pay the price for ripping of customers.
This is just shifting alot of people to buy used. Which inturn is jacking thouse prices up!
Let see Tacomas hit $25,000 again!
Only on the used market.
toyota is really making the 2025 nissan frontier look like a good deal right now
I don’t mind getting a unibody rav4 hybrid platform Toyota small pickup that gets 38mpg and e-AWD standard if it’s priced right. There are times where my Tacoma is an overkill and I still need to haul dirty stuff in the bed.
i cashed out and gave up on this society, i like sticking to my e bike.
Ram is giving 12k off their 1500s and still can’t sell them!
"WTF is this" 🤣🤣🤣
I think 5K off on a lightly optioned SR5 Tundra isn't horrible. Those will still go 250K . The pricing on the Tacomas I don't understand at all. I'd rather something from Japan.
Have 3 dodge products (yeah, I know) have been looking for a Daytona for 2 years. Just priced too high. BTW, they have gone UP about 3k per since March.
It is ONLY a "buyers market" if you finance. IF you pay cash, good luck getting the time of day from them.
They can freakin' rot.
Even if the prices dropped, 400ish a month for insurance? Hell naw
Go back four years and look at new car prices then. 🧾
Now plug that number into your handy dandy inflation adjustment calculator. 📈
This is what we should be paying MAX today. 💵
This year I put new tires, brakes, etc.. on my existing vehicles, all paid off many years ago.
Maybe in a few years from now the car market will become sane again.
When insurance company’s have fewer EV’s to insure rates should go down. 📉
As far as carrying multiple children, try a minivan. 😃
$$$$$........NO.
Oh well UntaMed!🤷♂️ Just outsource ALL production to “Mehico” like Toyota has done with their Tacoma’s and problem solved!!😳👎
im in so calif Toyota dealer Region , see tacoma TRD sport and above trims was looking for a 4x2 TRD pre runner think desert close we would see more none, same with under $40k SR extra cab 4x4s none like them, need a 6 ' bed , can add a camper topper or load bicycles in the bed and close and lock the tailgate one dealer in san Diego has $10k over on tacoma trailhuter
That Trailhunter is nice but aren't those close to 75k before markup, adds, and taxes & licenses
After it must be north of 82k..and I would want an extended warranty
This is a complete mess
let me know when a new corolla 13k out of the door , till than nothing collapsed , all madness is on and on
10:01 hmm no markups on that Prius. doubt you would see a new hybrid Civic with no markups. that tells me the prius isn't selling, or that dealerships are finally losing enough money to make them have to get in touch with the reality of what most people can afford.
8:40 Even before the last several hurricanes, there is SO MUCH insurance fraud (Auto and Home) in the the state of Florida, that insurance premiums are out of control now. $$$$$$$
Yep add in high APR’s it’s insane
It's not a buyer's market! not for those prices!!!
This is awesome news!!! LOL
idc who you are, $83k for a used car with 43k miles not a good deal for that land cruiser
Blame our laws that force car manufacturers to produce bunk new products!
Greed will collapse companies
Not a buyers market. Never catch a falling KNIFE.
55k is the new reality because we allow it to be. Stop buying overprice junk
100,000 Grand for "any" Vehicle is rediculous, who in their right 🧠 would pay that ? Wishful thinking on the Dealers part. My personal views.
Yeah I do not see any new model toyotas in my future at the rate they are going.
Let's see how long this mexie, robot & union made shit takes to rot. 10% to 20% off shit that +50% marked up crap is NO DEAL.
It’s still far from a buyers market.
Huge discounts? More like appropriate discounts
That lariat SD you showed that’s not base lmao
Do not buy nothing qc will be trash in all brands with the layoff.
Another mortgage payment? I dont borrow money for anything. And would never buy GMC garbage.
Electric vehicles have driven insurance prices up tremendously.
It’s not EVs. It’s Tech. LIDAR, emergency stop systems, android auto, screen costs, adaptive cruise, etc all have expensive sensors and motors to install, tune, and calibrate. Combine that with a car that’s designed to crumple and protect core versus being rugged when hit under 20 and totaling becomes a bigger thing.
Also, negative equity will have people totaling their cars for GAP/insurance payouts vs selling them to get out.
I don’t feel sorry for automakers or the dealerships. They went for the money and screwed the customers. Now they are getting screwed. Karma is a bitch
You want proof that there is no panic? Go find MY 2023 cars where a CPO with under 5K miles is 20K less than a new car. Present it to a bunch of dealers and see how many of them will not come off their “already discounted” price. When that starts happening en masse, I’ll believe the market collapse has begun.
No one has $ to buy tho
Except CalTrans, they’re buying electric Silverados
Hey Corey Taylor, wth are you doing talking about cars
Its not a buyers market no such thing.
I'm looking to buy a new F150 Powerboost hybrid around Christmas. Hoping to find good deals and availability.
try to find a lower spec model , they might be willing to deal to move the metal
Keeping my 3rd gen for as long as i can. They can keep their gimmicks and overpriced trucks.
How is it a buyers market when the dealer’s aren’t will to deal with. Lmao you seem a little fresh to the car market
EV's do not sell. People don't have the cash because they are in debt. Why do manufactures burn cash on stuff no one wants. EV's are DOA.
2025 are still 80 g 😂😂😂
First!
Unless you are at CarMax 🤪
Get you a job on CNBC
Vote Democrat and the prices go to be 100% more spencer next year.
Vote for trump !
Another collapse video, really? Desperate for views?
2024 trump
If there’s a 1300 plus day supply for the last two years you actually think lowering prices is going to help ? How many trucks do you think people want ? Lmao weak video
Trump level clickbait
Kamala level comment
They ( car manufacturers ),didn't give a damned about what we wanted, so let them go broke & we want 15,000 dollar cars & trucks loaded!!! Wake up car manufacturers!!!
F 54,000 dollars for anything!!!!
Let the dealership go broke as well, because they never told the manufacturer what we wanted!!!!