Car Market -- is Horrible ~

[Smagegy]

Hey Buds,

I'm down here in S.Fla., looking for a car to buy and its F____ horrible !

There's very little to choose from --- i'm trying to stay under 10k, but there's 'No Inventory' ~

I'm reading 'REPO'S' are at an all time high, but banks are not letting them go !

• How's the market where you are... I'm willing to travel at this point.

Thoughts /Comments?



Thanks for your input !

[VStar650CL]

The used market is ugly everyplace unless you want a truck or large SUV. By my front-lot count, our used inventory right now looks like about 20 pickups, 25 honker SUV's, 15 small SUV's and crossovers, 10 sedans, and 5 sports cars. It's pitiful.

It's also weird. It's like every time Nissan contemplates discontinuing sedans, we get $5 gas and everybody wants sedans again. It must be a trigger. Thanks, Joe!


Of course, you can get a brand new EV at a huge discount anyplace. Wonder (NOT) why that is?

[Smagegy]

The used market is ugly everyplace unless you want a truck or large SUV. By my front-lot count, our used inventory right now looks like about 20 pickups, 25 honker SUV's, 15 small SUV's and crossovers, 10 sedans, and 5 sports cars. It's pitiful.

It's also weird. It's like every time Nissan contemplates discontinuing sedans, we get $5 gas and everybody wants sedans again. It must be a trigger. Thanks, Joe!


Of course, you can get a brand new EV at a huge discount anyplace. Wonder (NOT) why that is?

I think people are holding onto their Used Cars --- not sure how New Car Sales are doing (I don't trust the Sales data being reported).

[Ashlee Ball]

In the past, a large number of cars were bought by people from western Europe, mostly from Ukraine. But now that there is a war there, there is less demand on the used car market. Hence such terrible prices.

[VStar650CL]

In the past, a large number of cars were bought by people from western Europe, mostly from Ukraine. But now that there is a war there, there is less demand on the used car market. Hence such terrible prices.

According to Department of Commerce, there are about 40 million annual used vehicle sales in the US, but only about 1 million exports. That's a drop in the bucket in numbers (albeit not in dollars), and the fact that less are being exported of late increases the domestic supply, which has a downward effect on domestic prices, not upward. The big kink in used car prices came because of COVID supply chain woes with new car production, and the used market has never really recovered from that. People simply don't trust market conditions and are holding on to their cars longer. That's great for us in the repair and maintenance end of the business, but awful if you're looking to buy a used ride. The current administration's environmental and energy policies just exacerbate the problem, so I don't see it getting better anytime soon.

[Rogue One]

I'm going to give Ashlee Ball the benefit of doubt, but I suspect that's a spam account.

[Ashlee Ball]

Why? https://casinoplinko.com/

[Rogue One]

Why? https://casinoplinko.com/

Here's why. And now you're banned and reported.

[Smagegy]

In the past, a large number of cars were bought by people from western Europe, mostly from Ukraine. But now that there is a war there, there is less demand on the used car market. Hence such terrible prices.

According to Department of Commerce, there are about 40 million annual used vehicle sales in the US, but only about 1 million exports. That's a drop in the bucket in numbers (albeit not in dollars), and the fact that less are being exported of late increases the domestic supply, which has a downward effect on domestic prices, not upward. The big kink in used car prices came because of COVID supply chain woes with new car production, and the used market has never really recovered from that. People simply don't trust market conditions and are holding on to their cars longer. That's great for us in the repair and maintenance end of the business, but awful if you're looking to buy a used ride. The current administration's environmental and energy policies just exacerbate the problem, so I don't see it getting better anytime soon.

Interesting Insight VStar --- New car sales are readily reported --- but i don't trust those numbers. --- While they show a downward trend from last year, I believe the number to be 'much lower' ~

Is there a place that complies 'Repossession Figures' ???

that would interesting...

[VStar650CL]

I dunno about hard repo numbers, but I can tell you they're increasing. The population in the "repo alley" section at our dealership is definitely higher lately. Cars usually sit there for awhile while the banks figure out the dispositions, so it's a pretty fair gauge. One look at the country's total credit load tells you why. People in general are further out on credit than they've ever been, but it's like nobody in charge notices or cares that folks are taking out what amount to grocery loans. I think it's gonna be a real s#!tshow when that starts transitioning from defaults into bankruptcies, but then everyone in DC will scratch their heads and say, "Wow, how did that happen?"

[Smagegy]

The whole thing is setup as a 'MLM Ponzi Scheme' with the 1% at the top Raking in the money --- while the Middle Class are stuck with the Bills and the weight of the world on their shoulders~

EX. The Banks at the top don't care about Bad Debt --- they've already been 'Shown' by DC that 'they will get bailed out. SO, banks continue to write anyone that breaths air and can lie on a loan application (to cover their tracks so that when they sell their 'Crappy Loans' to another bank --- all looks well). MOREOVER, the bankruptcy courts love it (as their lawyer partners are raking in Cash by filing BKs).

NEXT lets talk about the Gov (or maybe not... not enough time to do that).

Like i said, its one big setup against the 'honest working man/woman' ~

;(

[VStar650CL]

https://www.newsmax.com/finance/streett ... d/1165706/

[Smagegy]

https://www.newsmax.com/finance/streett ... d/1165706/

I saw that one... Explains why the Used Market inventory is so LOW~

Prices for used car REMAIN HIGH... peeps can't afford to sell ~

Mechanics must love this market !

https://apnews.com/article/average-vehi ... 30ebbca13d

ITs what we all expected to hear... the Car Market has slowed and people are FIXING their cars and holding onto them.