Car Sales PLUMMET | Dealers LOSING $$$
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Published 2024-07-18
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Today on the Daily News You Can Use, Ray and Zach discuss the latest data from Cox Automotive which shows new car inventory and new car days supply increasing significantl
All Comments (21)
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No Dealers. No Hassle. Serious Savings. Let the pros at CarEdge do it for you! ⮕ caredge.com/concierge
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.25% drop in interest rates won't make mush difference.
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Because the MSRP's are so high, the level of incentives necessary to better move inventory will be similarly unprecedented. I think manufacturers are still wrestling with that reality. And, perhaps, a fear that such incentives will haunt them in future years.
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I'm noticing price drops by $1,000 increments every 15 days on 2- 3 yr old vehicles I'd consider buying closer to December/January. Of course those prices were too high to begin with.
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Part of the low sales is the sleazy tactics. I just stormed out of a dealer today who put a piece of paper in front of me saying "I agree to buy today "60 seconds after walking through the door before I had seen or touched the vehicle I was interested in so that was a complete nausea evoking turn off so I left and do not ever plan to go back
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Just bought a 24’ Ram Laramie Hemi that was $20k off MSRP (From $74k - $54k). Still overpriced IMO, but more affordable than sticker for sure. I refused to pay any dealer add-ons😂 The dealer removed the bed liner and paint protection cost while also agreeing to no doc fees!
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I was calling this crash in the car market since last January because it is obvious that we are in a Recession. In addition, cars are just too darn expensive!
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We love the "Ray-tainment" and "Zach-zen" of this show! Keep the groove you two.
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$68K out the door is still more than most are willing to pay for a new truck.
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Time for some going out of business sales lol
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Test drove a 2019 Sienna today. Dealer wanted $4000 less than the original 2019 msrp. The van was beat into submission by its previous owner. I told my sales guy I wouldn't buy this van for any price because of its condition. Let alone for almost full 2019 msrp. What a disaster!!
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No bailouts for Detroit and dealerships. I do hope they come close to bankruptcy and forced to liquidate their inventory. Greedy mfs! Still blame this on all the people out there buying cars. They don't need it but still shop and spend in this ludacris economy. Thats why manufacturers/dealership have no fear in keeping all prices inflated.
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‘’Manufacturers direct to customers’’. The wave of the future
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Dont trust any deal where the words ‘’market value’’ is used. It’s the MSRP period. Anything under the MSRP is the discount.
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Honda dealer in Brandon, FL trying to tack on a $3,900 “protection package”, $2,500 in mystery fees, AND trying to charge a second full price destination fee (which is already included in the MSRP) on a 2024 Civic LX. So like $7,500 in pure profit for the dealer. The scammers are still out there.
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payments is still to high if you don't have a perfect 800+ score
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Just saw $500 incentive on a 2024 Trax that stickered at 23800. So even the cheapest vehicles are getting incentives 😊
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I just want a car that I’m not scared to drive and, I don’t hate driving.
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Ray! Don’t forget to call your kiddo handsome like you use too!
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I don't see lower prices at all
