Car prices to plummet amid oversupply

[MattPersman]

Half-ton trucks have gone up $15,000 in the last three years. I am assuming the same holds true for 3/4 ton trucks. The point being he said there were discounts of $10,000 off the current MSRP. I am still waiting for verification. But to your point-even if it's true-yes they would still be higher than the MSRP of three years ago.

Wasn’t me that said it but they are here Indianapolis

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[tbm3fan]

Just for reference. Benecia has a one long pier mostly used by car carriers. Last Wednesday I drove past headed to Mare Island. The empty lot in the lower middle was 100% filled with vehicles. All had white roofs. The large lot off to the right was filled also. This screen shot is not from last week at all but just to give you an idea.

 

[JHZR2]

That's unbelievable. What's even more unbelievable is people are actually paying that!

And if these things do plummet in price the way they're predicted to, (and it's only a matter of time before they do), imagine how many underwater car loans there will be.

I was going to say the same thing. Even went to the inflation calculator to see their figures. Crazy…

Doubt most folks’ wages have increased at that rate.

 

[SC Maintenance]

I was going to say the same thing. Even went to the inflation calculator to see their figures. Crazy…

Doubt most folks’ wages have increased at that rate.

It will end at some point - either inflation will push wages way, way up, or auto prices will fall.

Or something else will have to change - ie people spend less on housing or consumer goods - which will crash those markets instead. Its zero sum game. You can't financialize things forever.

Math, or lack of understanding it, hurts. They tried over-ruling math in the early 2000's. It took 8 years but they didn't win then either.

 

[pbm]

I was going to say the same thing. Even went to the inflation calculator to see their figures. Crazy…

Doubt most folks’ wages have increased at that rate.

Inflation is far higher than the numbers being touted in the 'news'. For example the bag of dog food that I used to buy in 2020 for $30 is now $47.....the cans of dog food that were $1.09 are now $2.09. Human food has gone up quite a bit also. The hotel that I stayed in in NC while driving back from Florida in March was $129 for the night.....in 2020 it was $74. I see this 'inflation' hurting businesses soon because most people will have to cut their 'leisure' time activities just to pay for basic necessities. I also believe the media is downplaying this for reasons that can't be mentioned here.

 

[GON]

I was going to say the same thing. Even went to the inflation calculator to see their figures. Crazy…

Doubt most folks’ wages have increased at that rate.

Maybe it is not the wages that align with current vehicle prices, but the changes in the buying power of the USD.

 

[billt460]

Inflation is far higher than the numbers being touted in the 'news'........

This is very true. I have seen prices on many items come close to, and in fact have sometimes DOUBLED over what they were. Gasoline being first and foremost. 3 years ago I was paying $2.28 for Premium. I just got finished paying $4.65 yesterday.

Items like toilet paper and paper towels are up well over 50% to 65%. And as you mentioned pet food has gone up dramatically. Naturally you'll NEVER hear those numbers from the corporate media in this country. A bag of frozen onion rings has gone from $2.28 a bag, up to $4.78 today.

 

[JHZR2]

Maybe it is not the wages that align with current vehicle prices, but the changes in the buying power of the USD.

If people can’t afford the junk being sold, or do so with excessive longer term debt on depreciating assets, it’s a problem however you angle it.

 

[GON]

If people can’t afford the junk being sold, or do so with excessive longer term debt on depreciating assets, it’s a problem however you angle it.

No argument from me...... but think it is worth discussion the change in vehicle pricing may have more to do with the change in buying power of the USD. We may not have to worry about this going forward........ we will just not own vehicles........ just subscription for vehicle usage.

 

[wtd]

Wasn’t me that said it but they are here Indianapolis

New Cars for Sale Indiana | Andy Mohr Automotive

We've been in business for 26 years, so we deliver competitive pricing, guaranteed credit approval and over 3,000 new vehicles in stock. Browse our selection today!

www.andymohr.com

They are here too in SW MO. https://www.mayse.com/VehicleSearchResults?search=new&make=Chevrolet&model=Silverado 1500