Car Bubble about to Pop

[Anonymous]

Lol, do another post when cars people actually want to drive are more available.

[Anonymous]

Anonymous wrote:I hope it's true. I was completely disgusted by the greed of the dealers who were marking up new cars just to take advantage of people in the pandemic. My car brand loyality is gone.

You are as ignorant of basic economics as the current president

[Anonymous]

Anonymous wrote:

Anonymous wrote:I hope it's true. I was completely disgusted by the greed of the dealers who were marking up new cars just to take advantage of people in the pandemic. My car brand loyality is gone.

You are as ignorant of basic economics as the current president

NP. You’re the ignorant one. PP is describing basic market forces of supply and demand that had me paying $2.5k above MSRP, and that’s after I shopped around, walked out of one dealership, and negotiated another dealer’s $5k markup down because they told me over the phone there was no markup. Sure, dealers are free to charge what the market will bear. But MSRP already has a profit margin for the dealers, so most car manufacturers don’t want dealers to add “additional dealer markups” or ADMs. So, is trying to squeeze additional profits greed?

PP, rethink your loyalty to specific dealerships charging ADMs, not to the car (unless you had a bad experience there too).

[Anonymous]

Anonymous wrote:

Anonymous wrote:Demand is still substantially higher than supply. And the supply chain issues persist so the supply won’t be getting better anytime soon.

Not true. VW sales have been falling pretty hard last few months.

VW’s production continues to be down because of the chip shortage. They don’t expect a full recovery until next year.

[Anonymous]

1. This morning snd normal market fluctuation.

2. There are virtually no new vehicles available to purchase on dealer lots without preorder. Subaru and Mazda hit the hardest. Volvo as well.

3. Supply chain issues will continue to exacerbate conditions well into 2023.

The business model for new car sales is undergoing a seachange. Manufacturers have no business case for overproducing vehicles and then supporting sales and leases through lavish incentive programs. Same for dealers. Why should they finance a lot full of unsold vehicles when it’s more profitable to maintain de minimis inventory to be sold at MSRP or above.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Demand is still substantially higher than supply. And the supply chain issues persist so the supply won’t be getting better anytime soon.

Not true. VW sales have been falling pretty hard last few months.

VW’s production continues to be down because of the chip shortage. They don’t expect a full recovery until next year.

VW sales in terms of number of vehicles were down 8% globally but increased 13% in the US in 2021. Biggest hit was in China where sales dropped 14%.

[Anonymous]

I shopped around selling two nice used cars recently and I didn’t get big offers. So I kept them. I’d have jumped if I got decent offers. I keep hearing people say they got more than what they paid. Haven’t seen it. In NW DC tried selling all over DMV. Would have cashed out and bought new.

[Anonymous]

Anonymous wrote:I shopped around selling two nice used cars recently and I didn’t get big offers. So I kept them. I’d have jumped if I got decent offers. I keep hearing people say they got more than what they paid. Haven’t seen it. In NW DC tried selling all over DMV. Would have cashed out and bought new.

What kind of cars do you own, what is the condition, and where did you list them?

[Anonymous]

Chevy just rolled out $1 250 cash back in a lot of vehicles I can get at MSRP so now $1,250 below MSRP.

Even three months ago that would be unheard of.

But even if not Chevy can the fact Blazer and Equinox discounting puts pressure on competitors with similar vehicles. .

[Anonymous]

My guess is the recession will hit around the time the chips flood the market and there will be a glut of new cars.

[Anonymous]

Anonymous wrote:I shopped around selling two nice used cars recently and I didn’t get big offers. So I kept them. I’d have jumped if I got decent offers. I keep hearing people say they got more than what they paid. Haven’t seen it. In NW DC tried selling all over DMV. Would have cashed out and bought new.

I've never been offered more than what I paid as I bought my SUV years ago and nobody is going to pay me what I paid for it, but the trade in value has gone up. My Ford dealership made me an offer for me to trade it in, then a few months later upped their offer. I ignored both offers.

[Anonymous]

Anonymous wrote:Chevy just rolled out $1 250 cash back in a lot of vehicles I can get at MSRP so now $1,250 below MSRP.

Even three months ago that would be unheard of.

But even if not Chevy can the fact Blazer and Equinox discounting puts pressure on competitors with similar vehicles. .

No. You don’t seem to have driven either of these sh[tboxes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I shopped around selling two nice used cars recently and I didn’t get big offers. So I kept them. I’d have jumped if I got decent offers. I keep hearing people say they got more than what they paid. Haven’t seen it. In NW DC tried selling all over DMV. Would have cashed out and bought new.

I've never been offered more than what I paid as I bought my SUV years ago and nobody is going to pay me what I paid for it, but the trade in value has gone up. My Ford dealership made me an offer for me to trade it in, then a few months later upped their offer. I ignored both offers.

Do you understand the process of negotiation? They made an opening offer and then upped the offer. You didn’t counteroffer.

[Anonymous]

Anonymous wrote:My guess is the recession will hit around the time the chips flood the market and there will be a glut of new cars.

That's quite likely to happen, actually.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I shopped around selling two nice used cars recently and I didn’t get big offers. So I kept them. I’d have jumped if I got decent offers. I keep hearing people say they got more than what they paid. Haven’t seen it. In NW DC tried selling all over DMV. Would have cashed out and bought new.

What kind of cars do you own, what is the condition, and where did you list them?

Jeep Wrangler and X3. 2017 and 2019. Initial offers were decent but not impressive. Even if I negotiated would likely have been not so impressive.