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Car price collapse.


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Hopefully the repo machine kicks in soon, and floods the market with nearly new trucks, and 5.0 mustangs. I,m ready and looking for a great deal, on both, when the prices finally bottom out, and dealers come back down to earth on pricing.

Edited by Frostynuts
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got a feeling the market aint dropping out to where it was pre covid for a few years yet.

 

atleast not up here.we are looking for a deal on a rav 4 . prices on used are dam near same as new  and in some cases when you factor in the higher interest on used vehicles., probably more expensive in the long run , which is fucking insane.

Edited by ZR800efi
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Prices are still high here for used, and folks are still paying over msrp for new ones. As long as demand is high the prices will stay up.

I keep hearing about this price collapse but have not seen it yet here in Chicagoland.

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28 minutes ago, Edmo said:

Prices are still high here for used, and folks are still paying over msrp for new ones. As long as demand is high the prices will stay up.

I keep hearing about this price collapse but have not seen it yet here in Chicagoland.

Same here. We are not adding to msrp like others, but Denali still hot. We have a short Yukon Denali right now that’s 98k. One coming is 105k. Most dealers are adding 5k

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Probably going to buy a 3/4 ton crew cab after this winter..time to retire the caddy. 

Ive noticed used trucks have started to come down but collapse ? um no 

They need to come down more because you can buy a brand new truck for not much more than what the used ones are priced at currently. 

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Haven't seen a huge drop yet in low mileage vehicles. Sedans are still strong surprisingly as the trend is towards small suvs. Trucks have come down somewhat but not much. High mileage anything has dropped substantially.

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14 hours ago, racinfarmer said:

G-wagons are dropping right now.  

I'm hoping the GT3 market follows.

I skim bat daily and no Porsches are dropping in price, especially those.

https://bringatrailer.com/porsche/911-gt3/

 

Edited by Crnr2Crnr
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10 hours ago, SayatodaU.P.eh? said:

Not seeing it, personally.  
 

As for new vehicle production? What you currently have is the new normal. It might increase slightly from here but not much. 

the new Trax is going to be an affordable mover if they play their cards right

made in Korea...

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1 minute ago, SayatodaU.P.eh? said:

The old Trax sold surprisingly well, I thought, for what it was. 
 

That’s because an assembly line to build that sort of product hasn’t existed in NA for years. 

saw the launch promo, price target is spot on.  especially compared to the used car market 

Edited by Crnr2Crnr
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10 minutes ago, GreenStreak said:

From what I have read prices are high because dealers do not have the inventory they usually have due to the shortage of computer chips. Some of the manufacturers literally have tens of thousands of incomplete Vehicles waiting for chips on lots.

They've delivered without heated steering wheels etc with the "promise' of install when parts are available. 

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15 hours ago, SayatodaU.P.eh? said:

Not seeing it, personally.  
 

As for new vehicle production? What you currently have is the new normal. It might increase slightly from here but not much. 

You’re up on auctions given your job. The big names at auctions had been keeping ridiculous reserve prices because they’re in up to their eyeballs with these vehicles. Over the last two weeks dealers have stopped buying on an almost nationwide trend. Wholesale prices are waaaay too high. Keep an eye on Mannheim over the next two weeks. Surprises are ahead. 

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4 minutes ago, spin_dry said:

You’re up on auctions given your job. The big names at auctions had been keeping ridiculous reserve prices because they’re in up to their eyeballs with these vehicles. Over the last two weeks dealers have stopped buying on an almost nationwide trend. Wholesale prices are waaaay too high. Keep an eye on Mannheim over the next two weeks. Surprises are ahead. 

I have zero to do with auctions. What I can see, which is really nothing most anyone else can’t see as well, is that these companies are making money hand over fist with new vehicles selling at these prices. All while paying lower labor costs because they can stop plants when needed. 
 

I don’t really know what is still keeping the supply chain low on needed materials but I don’t think there’s a bunch of companies going belly up because of it. Seems to me it’s the opposite in at least some instances. 

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