The great car market reset of 2024 has started! There is no denying it. Between the insane inventory levels, huge discounts and incentivized rates... dealers are getting desperate. Desperate times call for desperate measures.

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-Stay Untamed...

#dealership #carmarket #markettrends #marketcrash

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VIDEO NOTES:

Layoffs are ramping up within the automotive business industry… production line workers & dealership staff/salesmen.

Repos surge 23-24%

22% of all auto loans last couple of months were denied… 1/5 auto loans applied for DENIED!

MSRPs are dropping in some cases... Like for the Ford Bronco Raptor.

Banks are tightening up, often requiring buyers to have a larger down deposit with excellent credit.

Banks won’t fund marked up vehicles… Which is great!

Dealers are kicking themselves for being greedy throughout the pandemic… ruined customer loyalty.

Nearly half of all Nissan Dealerships are losing money right now….

Stellantis’ stock has dropped over 50% since the start of the year!

Cut production… Ford, Stellantis, Nissan, GM has been doing layoffs.

Everyone in the car market right now is feeling the pain…

Inventory levels across the board are increasing.

Average across the industry is over 75 days on market!

Floorplans are costing dealers a ton…

Dealers are turning away allocations! Which is driving 10-20K discounts!

Nissan and Mazda had to make some extreme incentivized offers to move inventory.

Trade-In Values are trash though.

Interest rates haven’t subsided much… Still 7-10% with Excellent Credit.

Insurance rates have over doubled in the last 5 years…

Many states have seen an over 50% increase over the last year!

Hurricane doesn’t help… insurance fraud.

Housing has gone up tremendously… cost of groceries… cost of living overall hasn’t let up!

People are struggling. People are just doing whatever it takes to just hold on…

Cheap vehicles are selling. That’s it.

Wholesale prices are looking bleak… consumer retail always lags behind (3-4 months).

Average negative equity has risen to $7K.

What’s next:
Prices of vehicles have consistently dropped over the last year.

It’s by all contexts of the phrase a “buyers market." You can be choosy.
Lightly used vehicles will offer huge savings again!
But be careful buying used… many of them now are repos
You can expect great incentivized rates AND the discounts. Get both.
Be patient, prices will continue to fall!

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@untamed_motors