US Truck & Car Market? Any Idea Where It's Going?

[Slippy]

So, I'm perusing the Interwebs, looking for deals on Heavy Duty 3/4 or 1 ton Diesel Pick Up Trucks, I notice that there are quite a bit more available. Driving by a few dealerships, same.

Cars too.

Mrs S and I also stayed in a hotel recently, had to go to an out of town Christmas dinner, and we turned on the TV for the first time in months...CAR & TRUCK COMMERCIALS GALORE!

BUT; Prices don't seem to have come down much if any?

Whats happening with the US Automobile markets?

[BucketBack]

Interest is up, and the stock markets down.......

I haven't driven by a new car stealership in a few weeks to check inventory

[Dwight55]

In a little hole in the wall place called Marion, Ohio . . . there are literally hundreds if not thousands of brand new rides sitting on what used to be a major school lot.

The school got condemned . . . too many kids were getting cancer . . . buildings still standing . . . but they are building a moat around the place.

Anyway . . . there seems to be more and more of them every time I go by.

But like said before . . . still $$$ way out of reach for common folks.

May God bless,
Dwight

[Piratesailor]

Interesting. On the way to the range I drive by a number of dealers and inventory is low. In fact it’s so low that they spread out the vehicles to make the lot look a little more crowded. I don’t see prices dropping, ever.

[Inor]

So, I'm perusing the Interwebs, looking for deals on Heavy Duty 3/4 or 1 ton Diesel Pick Up Trucks, I notice that there are quite a bit more available. Driving by a few dealerships, same.

Cars too.

Mrs S and I also stayed in a hotel recently, had to go to an out of town Christmas dinner, and we turned on the TV for the first time in months...CAR & TRUCK COMMERCIALS GALORE!

BUT; Prices don't seem to have come down much if any?

Whats happening with the US Automobile markets?

The big dealers (especially Carvana) got caught with their pants down...

During the 'rona when the government was giving away free money to everybody for not working, a lot of people spent it on new/used cars. They bid the prices through the roof. The last data that I have done a deep dive on was current as of the end of April 2022, over 97% of car sales were above MSRP! That caused the auction houses to raise their prices (because they could). The car lots paid the inflated prices because it was the only way they could get cars to sell.

Fast forward a few months... Retail car sales have fallen off a cliff the last few months, but the dealers are still sitting on a TON of inventory that they bought when prices were sky high. So there are plenty of cars now but the dealers cannot afford to drop the prices (yet).

Summation: Car prices are going to drop like a rock as soon as the dealers can no longer make the monthly interest payments on their current inventory. If you are in the market for a used car or tuck, keep an eye on the financial pages. As soon as Carvana formally files bankruptcy (certainly by next summer), they will flood the market with inventory and that will start a huge wave of dealer bankruptcies. When that happens, there will be some great deals to be had, especially if you can pay in cold hard cash.

[T-Man 1066]

FIL has a new F150 on order, it is over $81K with an employee discount - A-Plan. That is twice of what I bought my first house for in '96.

My next truck will be a 5th - 8th gen 3/4 or 1 ton ford, with a carburetor and manual trans.

I'm never buying a new vehicle again. Prices are bonkers.

[Big Ken]

In a little hole in the wall place called Marion, Ohio . . . there are literally hundreds if not thousands of brand new rides sitting on what used to be a major school lot.

The school got condemned . . . too many kids were getting cancer . . . buildings still standing . . . but they are building a moat around the place.

Anyway . . . there seems to be more and more of them every time I go by.

But like said before . . . still $$$ way out of reach for common folks.

May God bless,
Dwight

Quite a few places like that around here, all waiting for chips.

[Slippy]

I'm just sitting around today and tomorrow, doing a lot of nothing so I made some more inquiries on Dodge Ram 2500 Tradesman Diesel and Ford F250 XL/XLT Diesel...

...See below...Your Mileage May Vary;

Inventory in AL, GA, FL seems to be plenty but mainly for the Loaded Higher End $80kPlus trucks. Work trucks (Ram Tradesman and Ford XL) are fewer. Prices are NOT negotiable.

TX, OH, WI, CA, CO, UT, NC, VA all models are readily available either on lots or in transit. Multiple dealerships suggested a fully refundable $100 will hold one of the trucks in transit. ZERO price negotiating room.

The funny thing is I cannot argue with Pirate Sailor's view that prices will never come down and I cannot argue with Inor's view that prices will drop off a cliff.

This is the most confounding Heavy Duty Truck Market in my lifetime....

PS I'd buy a new Diesel Truck if I can find one, but I'd go with the work truck. I'm buying for the Diesel engine, not for the mahogany wood cup holders and heated ass scratcher seats!

[T-Man 1066]

I bought my '12 F350 diesel new back then. Same thing, just got the XLT, added skid plates, snow plow prep, 3.73 gears, heavy duty rear suspension, goose neck hitch, and sliding rear window (power). Dealer added Western 4 way snow plow, DMI ag hitch, and spray on bed liner and undercoating. Otherwise plain jane, cloth seats, low end radio, no navigation, etc. Steel 17' wheels, and manual locking wheel hubs. That one was an option that dropped about $400 off the price.

Had 46 miles when I received it, about 185K now. Other than EGR and emission issues with the diesel, DEF heater and BS, never had any issues. And I don't baby it either.

I didn't know you guys down south even had heated seats there...

[StratBastard]

General Motors is going into bankruptcy. They actually contacted Musk to inquire for investment/bailout $$$, and he took a pass. Biggest car maker on the planet until Toyota passed them. They're in serious trouble.