Dealerships are Closing
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- Опубликовано: 13 сен 2024
- Dealerships Can't sell Cars so they have to close
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If HALF of the dealerships close then there will be half of the former dealerships that WON'T be RIPPING off CUSTOMERS.
facts
It will get worse if there's less dealers competing for your business.
Please remember that closed dealerships aren't buildings. They're also people that will be trying to feed their families on unemployment for a few months until they find work again. Employees that had nothing to do with perceived greed--technicians, lot persons, receptionists, etc.
@@azmike3572 SHOULD NOT HAVE RIPPED CONSUMERS OFF! KARMA!!
@@azmike3572Detailers
NOT ONE OUNCE OF SYMPATHY FOR ALL THE OBSCENE PRICE GOUGING DEALERSHIPS DID OVER THE LAST 3.5 YEARS!! NOT TO MENTION THERI UNREGULATED SHADY PRACTICES!! KARMA!
Not enough
Well , we don’t forget what happened in car dealerships after pandemic, Price gouging like there’s no tomorrow.
Tell me about it!
Because there is no tomorrow for them, just will take a year or so@gatorhawk1324
the problem was people….everyone knew there was shortage a 15k mark up and still decided they wanted to buy a car during a pandemic and after….you can’t blame them for taking advantage if anything blame the Govt for not taking any action to put a ceiling on mark up prices…
Consequences from "covid pricing". Charging $80K for a $35K truck is what caused dealerships to close.
Time for manufacture to sell directly to buyers.
Car companies doubled down on it as well. 10k to 20k msrp increase on trucks and suvs 😂
@@johnnelson9742 Yeah, there are no innocents among the sellers.
It's wild that this cannot happen in the USA, yet it happens in many other countries. I thought the US was the land of the free 😂
States will not allow it.
@@curtisstewart3179 No, the Powell Doctrine, from the 1971 Powell Memo is what won't allow it.
Awwww boooo hooo. Those poor poor rip off artists. They made so much money and spent it all, now they go out of business. Sorry zero pity from me.
My truck brand new in 2018. $46,000. 0% interest. Exact same truck now $72,000. 7% interest. I can't figure out why they're not flying off the lot
They car market in 2024 is like watching a house burn with no water in sight😮😮
Well said....and we'll deserved
And yet these fools still want to rip you off and make 234-5000% profit on a car
Manufacturers told dealers to stop jacking up prices over Msrp, They didn’t listen, so the manufacturers raised their prices. Now dealerships are screwed. It’s their own fault.
Tete4 et rt r 13th⅔1
ABSOLUTELY!
Perfect way to thin out the Greed, except the manufacturer's Win along with the Banks at the end of all this 💩, Not the End user.
Umm, I think the manufacturers would have raised prices anyway. It was more like, OMG, the dealers are making out like bandits. We want our share!
BINGO!!!!
What goes around comes around. When the supply of new cars was limited they had the crazy markups. Now the new car dealers are suffering the results from the greed they exhibited and the manufacturers from excessively jacking up the prices.
Dealers don't pay sales tax. Customers pay sales tax. Dealers simply collect for the government.
That’s what I thought.
No bailouts for the auto industry. Tell the auto industry and their supporters in Congress to not even think of asking for a bailout. Not again. Never again.
Agreed. Stellantis CEO received a 56% boost in total compensation ($39.5 million) in 2023. On top of that dealerships are making a fortune off buyers with their markups. Let them all go out of business.
I'll buy Toyotas from now on, they are just so much better than any of the domestic manufacturers. I don't even care if they are made here or not, my A to B commuter is not a political football, I just need something reliable and good gas mileage, and the domestic car companies don't make that, so they can all go bankrupt, and I don't care, NO MORE BAILOUTS !
You know its coming 😔
Oh, please! They will cry that they are "TOO BIG TO FAIL" and get billions from the taxpayer, AGAIN! History repeats itself. 🤨
@@sprinkle61good cars, dickhead salespeople. Tried to buy a PRIUS and they tried to charge $5k on top of msrp due to demand… told them take a hike
This the best automotive channel on the Tube. Always straight up front no BS.
Facts! thanks
Stop the 🧢
@@LuckyLopez777thank you for the information. I drive a 2006 Toyota Highlander LE 4wd with 125K miles. Any suggestions on a minivan?
"people dont have money , banks dont want to lend, and dealerships cant sell" quote of the year
Did that make yourself feel better, Poindexter?
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I'd suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you...prevent inflation
I feel Investors should exercise caution with their exposure and.exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or a licensed expert in order to navigate this recession and achieve potential high yields
Tracy Britt Cool Consulting was my hope during the 'bear summer' last year. I made so many mistakes but also learned so much from it, and of course from Tracy.
She is really a good investment advisor. Was privileged to attend some of her seminars.that's how I started my own crypto investment
Looked at a truck today, they advertised it for one price and then at the end it was 7 thousand higher, I left and said I’m fine driving my old one. These dealerships deserve to go out of buisiness. Probably will buy from a individual
Same thing happened to me . I saw one for 27k when I got the paperwork I saw add ons for $1300 . So I also left . I’m not paying for someone mistake or someone thinking they gonna get a profile
I guess you could say them closing is a… “market adjustment”
Amen brother
Hahaha hahaha yes!!!!!
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Alice Louis is a very legitimate and competent woman, her method works like magic, I continue to win with her new strategies.
Thanks for the informative comments... I think BTC and ETH are more likely to retest resistance and then drop. But as always, the situation changes every day and all we can do is act responsibly, monitor the markets and frequently reevaluate our strategies. I would like to thank you, because
Alice ,* for giving me my crypto education while comfortably earning 9.7 BTC.......
A good friend of mine also does business with her in Canada. She is a good woman! Her good works already speak for herself.
Great video! Well, I'm very happy that I made the best decisions by making a good investment through it.
I recently managed to buy my third house at my age and I believe that if things continue well, I will retire early.
Sorry but I have no sympathy for dealers. Their service departments screw customers and they charge mark up for regular every day cars and then mark up the finance rates. They can suck a lemon
“shut up
it’s a Dodge”
that’s why I love this channel
First thing Stallantis should do is return Ram to Dodge. Why would Fiat weaken Dodge by taking away the trucks from it. That was stupid!
❤Amen! Without DODGE… There is no RAM truck brand!
YES I call my 2015 Ram a Dodge and I call Bruce Jenner Bruce Jenner.
If EVs were so great NOTHING about them would need to be forced.
Same could be said about feminism and LGBTQ.
capitalism doesn’t always have the best interest of the people in mind, hence countless lawsuits and regulations
But ironically EVs are progressing rapidly, QuantumScape and Samsung have developed solid state batteries
China has on the market semi solid state EVs and already develop sodium ion batteries
But ICE vehicles are still generally cheaper
American manufactures have to start making affordable gasoline powered sedans again. Otherwise, people are just going to keep fixing their old cars for as long as possible.
Its going the wrong way (Mitsubishi isn't American)... but their Mirage (they have a Sedan variant) sells for under 20k... and 2024 is the last year
I am tired of SUVS and trucks in America.
But will they still suck ?
Bring back the Ford Econoline van!! circa 2006 :-)
@@Have.An.AmicoDay The mirage is still super expensive and its a really crappy car. People will just buy used unless the new car is nicer than the last model and reasonably priced
That's great news. Price gouging has consequences.
damn people actually bought challengers 20k over msrp ? that crazy and dumb af
Yeah everyone knows this they were marking up the new 2020 c8 corvette 25-50k cause it just came out and we’re robbing people… I heard of a lady that paid 80k for a Kia Telluride.. dealers were marking up every car but the higher trim ones people really wanted they were really nailing people.. and now all these people are 20,30,40k underwater in negative equity… the repo rate today is at 23%
No loss. The only time I use new car stealerships is on the rare occasion I need a factory part.
No one in my family has bought a new car from a stealership since September 1971
One small correction, Lucky: Dealers don't *pay* sales tax; dealers *collect* sales tax from the customers on behalf of the state. If you buy the car out of state, you pay the sales tax at the DMV in your state when you go to register it.
You are right
Unless you live in a reciprocal state like PA. We will collect NJ. Tax and pay it.
Dont businesses have a tax bill as well though? On their income. Corporate tax.
@@kimmy722 You still collect those taxes. Whether it is PA or NJ dealers collect the taxes which they provide to the state. Dealers do not pay the sales tax in any state for vehicles they sell.
@@jerrylundegaard2592 must be a new thing then. I worked for a dealer for 17 years in Philly. We collected the nj sales tax and mailed it to the state. But that was back in 2004.
People have been over-spending for decades. Play time is OVER.
The behaviors of the last 3 generations is pathetic. Not sure if the Z folks are smarter financially than the other. The attitude of I need it now, go into serious debt, no savings, no retirement planning etc is coming back around to haunt people. I was raised by depression era parents. If you can't pay for it now don't buy it. Didn't mean don't take on debt, just meant limit your debt. I see Millenials in million dollar houses and $80k cars, expensive vacations, everything top end. Look at the credit card debt now, over $1.2 trillion!! The auto industry is just one of the casualities of greed and stupidity. I'll never buy a new car again. One very large dealership in my area is in negotiation the sale of 20+ locations to, I think, Auto Nation, for billions. Smart move on their part. Get out, invest it and enjoy life. If the Nov 24 election goes blue and further socialist it will only get much worse. Cuba/Venezuela hold our beer time.
@@keithallen3119 Yes, yes, and yes.
Cuba still driving cars from the 50's. We don't need over-engineered junk.
You mean american made cars yeah we know Cuba is worth less and less everyday ask florida 😅😂 cuba is florida now incase you missed the mark
I lost two jobs, SC, almost all closing! I quit Dodge!!
I I saw a Kia salesman doing DoorDash deliveries. I was like ooowwwe.😮😮
I was talking to a Ford salesman last weekend about how were sales. He sold 1 used truck all weekend and it was a chevy.
LOL
Scottsdale AZ here. Dealer lots are overflowing. There’s a ford dealer that had 3 separate overflow lots. There’s also a RAM dealer that has a lot bursting at the seams with trucks and they also have an overflow lot with 100+ trucks that are all rotting in the sun. I went out to check the sticker prices and they were trying to sell mid trim 2500’s for 93k. No thanks
"Ditto" in Metro PDX/Vancouver for mega [family owned] CDJR.
No space to park incoming inventory.
"Crap cars (made) w/junk parts" mantra that indie shops view ALL late model vehicles.
I was looking at a used car online from a local Ford dealer. They listed the price plus a $995 reconditioning fee. 🤣 Lost my business even before I contacted them or went there.
SoCal sales are almost zero. a few closed mom and pop dealers. But what really got me was the car wash that dealers would run the cars through was empty today. Fridays are always the busiest but not a car in line.
Some dealers ceased washing customer cars a few years back. Mine was one of them.
I was browsing today and came across a Ford Dealership in IL that has TEN 2023 F150 Lariat's with the Tuscany Black Ops upgrades that were over 100K and they are now doing a reverse auction taking 500.00 per week off until sold. The current price is around 80K and the trucks MSRP before the 30K upgrade were all around 73K. I looked at the Window Stickers and most were built in December 2022.....Imagine the loss they are getting ready to take! Keep up the good work Lucky!
If I paid $80,000 for a car, I would live in it!
Lot rot is a thing. Those cars sitting 18 months out on the lot will have paint issues for sure and many other problems associated with sitting outside and not being driven.
Why didn't the dealerships save their money that they were overcharging, "Dealer Markups." If thye had, they wouldn't be crying right now.
Lol you mean the CEO Christmas bonuses? 😂 They deserve this
Blow & H**kerz😂😅🤣
They did save it. Only now they are blowing through all of it paying floor plan interest on everything that's not selling
It makes no sense why cars went up so much over the last 4 years. The most popular president ever in USA history said that there is no inflation. So what gives?!?
Greed
Overbuild cars, too many sensors, too many gadgets. Many of those are put there because goverment wants it. So yes is more expensive.
Let's go honest Joe Brandon !
@azazelakira12 agree. Analog vehicles are truly bullet proof.
Classic line from Lucky….it’s a Ram, shut up… it’s just a Dodge! 🤣
As an EV owner, I did not understand the push by “all” manufacturers to get in to EVs. Look at Tesla now with sales dropping because those who wanted an EV have already bought them. I told myself during the oil embargoes that I wanted a vehicle that did not use gas so that my money would not go to the Middle East. I don’t think gas and diesel will ever be eliminated.
You know my new Tesla Model Y is the #1 selling vehicle in the WORLD…right? Had a BMW EV on lease for 3 years and it was perfect. However the Tesla is next level with self driving and the integration. I don’t think ALL manufacturers ARE producing EV’s…are they?
@@Skyking6976you’re like a tick in the ass…you just won’t go away
@@ShadowBannedagain OK…how so?
Time to go back to vehicles similar to those from the early 2,000's. An equivalent to a 2000 Civic or Corolla with better seats, simple info system, and reasonable MSRP would sell quickly today.
Bring back the normal radios and let us decide what we want in it. The Sony and Pioneer aftermarket radios are better than the factory trash anyways.
@Goldcountryruss7035 Lucy calls them buckets.
Yeah, my 2001 Honda Civic 5-speed manual was a fun car. It was very reliable and cheap to maintain. I held on to it until I replaced it with a 2014 Camry. That car has about 108,000 miles on it and I will keep it forever.
AND yet the wife and I are bumping around in a new Tesla Model Y for only 39K after state and federal incentives…that drives itself. Being in my mid-60’s If I never “drive” again, that’s fine with me.
They are still selling well. Domestics handed the car market to Toyota and Honda
Greed has its consequences. Greed is NOT good.
Lmao tried to get sympathy for dealers charging 20K markup by telling me teachers aren’t gonna get paid if they go out of business, THAT made me LOL
My eye's rolled to back of my head.
Bruh 😂 the fact that he thinks sales tax on overpriced cars is good for the taxpayer is insane .. wat a tool lol
Thank you, Lucky, for telling us the TRUTH. We are holding on to our 2 older Lexus 350's - a 2010 and a 2017. Less than 100,000 miles on both. Our mechanic says the 2010 will last 350,000 miles if taken care of. Our local Lexus sales mgr has been emailing us - after not contacting us since we bought the '17 (used 3 years ago). We are furious how he treated us after buying the '17 - he knew Lexus was going to stop providing GPS on that model. So, we will wait to purchase another one when WE call the shots rather than being snookered.
It's OVER! Hold on to your butt's! And also hold on to REAL physical assets.
The winds of misery haven’t hit us full force yet
Omg those poor dealerships. They should start a patreon.
Stellantis Is finished there trying to sell Dodge and Chrysler to BYD from China. The quality of there cars has gotten very bad.
they’re
their
They WILL sell to BYD and BYD will destroy the legacy automakers by selling amazing EV’s starting at 11K which with state and federal incentives making the vehicles virtually FREE.
This whole mess started over 3 years ago. Your explanation is on point. The smaller non oem dealerships are surviving on secondary financing, and getting desperate customers in cars regardless of monthly payment. This will be interesting to see how this plays out next year.
Dealerships- boohoo. We screwed our customers and now we’re screwed.
Grew up broke and learned to live beneath my means as life went on. Ready to write a check for a used car and NOBODY in WI/MN is dealing. Don't need financing, I just want one of these "the car market is crashing" deals. I continue to hear that the car market is in trouble: Not around here. Where are all of these smoking hot deals??
Top secret Chrysler, Doge is been sold to BYD, they are closing the production here in the states and moving to Mexico, this is the entry for inexpensive electric cars with out tariffs, and lowering the price of ICE vehicles.
Great video Lucky! Very informative. Now I understand why new car and truck prices aren’t dropping as fast as their value. The auto makers are in big trouble, and the dealerships are going to get squeezed out of existence.
Yeah it’s totally the consumers fault that dealerships aren’t a “Crucial part of the community” anymore 😂😂
I’ve never understood why it was okay to mark up cars during what was a shortage due to a man made disaster yet if you mark up a generator during a natural disaster you get arrested and go to jail. 🤔
Because it’s basic supply and demand regarding automobiles. If you overcharge for a generator during a disaster, yet have a warehouse full of them, that’s agin’ the law as workin’ folk say. I think it’s a statutory in most states.
That’s was a really great breakdown of what is occurring behind the scenes and the issues / dynamics that are effecting all parties involved. Thank you!
“ Shut up” it’s a dodge 😂🤣🤭 you spoke the truth!
❤DODGE RAM!! Yes he did speak the truth!
A local Jeep dealership called me last week as my wife and I are customers of them. Every 2-3 years we trade in our vehicles and special order 2 new vehicles at the same dealership. Because of the high prices and high interest rates we decided to wait. So last week they called us to buy 2 new Jeeps at a special rate. 2.9% for 72 or 84 months. They will discount the jeeps below MSRP, no money down!! But the vehicles are EV models!!! I told them no way, no EV's for us!! I told them we would come up that day and buy 2 new Jeeps but no EV's. Haven't called back! I wonder why? John
So you put yourself in perpetual debt every two years?
@@EmSeeMAC I think it's more like leasing with extra steps lol
Actually in 2021 we made out like bandits! Dealer had buyers that wanted both our vehicles out right!! Both only had 3,000 miles as we were retired! We purchased 2 new vehicles! Got fleet buyers discount. and got interest rate of 3,29%@@EmSeeMAC
@@John-yf4ieSounds like you’re just trading a new jeep for another new jeep to have something to do on a slow Saturday. Aren’t you worried the bottom is gonna fall out and you’re gonna be left holding the bag?
They are offering cheaper financing on ev’s only cause nothing is selling.. you go to that dealer to buy 2GAS jeeps your rates gonna be 7%plus unless they are offering 4.9 for 60 months
i work for a auto group with 4 jeep stores and everything you said is facts my guess is companies might want to go the tesla way and have only a used car dealers
These dealers should have gotten out of debt and stopped using floor plans during the good times.
That's not how new car dealerships work. Debt is the mother's milk. Been that way since post WW2.
Not seeing many go out of business in southern Minnesota, but new car dealers are jammed with inventory. Offering all these incentives on 2025s. Cheap used cars that aren’t too rusty are bringing a premium
They screwed during Covid, not shedding a tear for them.
We are in Orlando, FL and we are struggling really hard. Every other week there’s a car dealership closing; it’s scary.
It's about time. Over priced junk, I'm surprised it didn't happen sooner.
Today I made about $2k extra, going to pay off my car nxt week n be done with it 👍
nice. congrats
Then keep it long term 🙏
Still charging "market adjustments" though!
So they rather close up shop than sell at MSRP 😂 fuck customers huh 😂
Can't feel sympathy for them, with that mindset towards customers
Another brilliant idea by Dodge discontinue the work truck just build high dollar trucks
This made dealer’s behavior make sense. It’s hard to feel bad about moderately screwing someone when you’re constantly get screwed too. Even nice guys end up getting pushed to do things they may not have normally but were forced to in order to be competitive. Rock and a hard place, oh and bonus people hate you haha.
I stopped by a DCJ store and saw that their Hornets and Cherokees cost $43-46k. I’ve been out of the market for a while. I then went down to Toyota and saw that their 4Runner with leather cost $45k. The choice was simple.
Carlos Tavares is single-handedly destroying Chrysler as we know it in the U.S. Word on the street is they want to push retail on overpriced vehicles already, with no incentives, and they want to discourage leasing, which has been the bread and butter for a lot of these CDJR dealerships. Yeah, you'll see more closing and soon.
Actually BYD is gonna buy them and destroy US legacy automakers because they’ve figured out how to sell EV’s starting at 11K. With state and federal incentives workin’ folk can play big shot and “buy” a brand new vehicle for everyone in the family…for virtually free. Probably for most it will be their first brand new car.
@@Skyking6976 They won't be able to buy anything if they are not working.
I'll never forget my years working in the sales tower of a huge urban Ford dealer. Our regional factory rep would come twice a month and depending on our performance, would offer the "carrot" (incentives) or the "stick" (penalties). We couldn't sell Ford cars to save our life, but could sell hundreds of F150s every month. We would literally have to negotiate with the rep to get the inventory allocation we needed for the month so we wouldn't get stuck with a dozen new Fusions we couldn't sell. Often we would just have to resort to doing trades with other Ford dealers in our region because we would always get stuck with vehicles we didn't want, and never got enough of the ones we needed.
WHY DONT THEY JUST LOWER THE PRICES TO THE POINT WHERE PEOPLE BUY?! Every time I look up the price of a Corolla it’s 50% higher than it was in 2018
Stop buying sh!t.
They got addicted to the higher revenue and some even gave it to the unions, so now they can't make cheap cars and no one wants expensive cars. They're playing chicken with the economy and the upcoming election. Next year will be a bloodbath for the auto market, and that's when I'll buy, and I'll still play hardball to get the best deal possible and see how dealers like my "market adjustment".
@@twystedhumour yeah man. 100% true. I’ve been doing my part. I even stopped going to all the fast food places I used to go to all the time. I try to use Amazon as little as possible and do all my spending when I travel overseas.
It’s called “greed”. By the time REALITY truly sinks in to the idiotic manufacturers, and they shave off a few thousand, it’ll be wayyy too late. Almost NOBODY in the USA NEEDS a new car or truck- they might WANT one, but they don’t NEED one. OEM manufacturers grossly underestimate the possibility that they could actually go out of business….but they can.
EVs arent automobiles, they're appliances. And people have caught on.
We’ve had a BMW EV on lease that just ended for 3 years…and it was flawless. Heck, some ole boy in the service department finally about half way through the lease called and said PLEASE bring it in so they can make something off the car and charge BMW. Our new Tesla Model Y drives itself and in my mid-60’s if I never drive again, that’s fine with me. We charge in the garage, NEVER go for an oil change or service so….
@@Skyking6976lame as shit. Your ev are nothing else but future garage sale gadgets
The stock and real estate markets are next.
fire sale
Soon, but not quite yet…the stock market still has plenty of 💰 waiting in the wings ($6 trillion or thereabouts)
Bottom line - greed! So please don’t tell me to feel sorry for the car dealers just because they pay taxes. We pay them too.
And don't feel sorry for people who chose to overpay.
@@twystedhumour some folks had no choice, they really needed a vehicle and they were taken advantage of.. now dealers and their scumbag employees are going to get what's coming... and NO ONE is going to feel bad for them or their families!!
@@twystedhumour Free country, right?
In 2013 I went to buy a FORD car, this dealer made every attempt at stealing 8K from me. Obviously that worked out poorly for them. Finance dude attempted to get me in the habit of signing frivolous paperwork and then slide in some 1K add on. Didn't work. I said No Sale. Refused to return my trade in keys, I called the cops right there on the spot for theft by deceit. I did buy the car with my agreed to numbers and signed a Finance form and a Title, That was it, 2 signatures.
Only a few used dealers closed here. 2% financing helping the dealers here. Great info! Thanks!!
An adjustment was needed. Sad but true. We have low income, high inflation, high interest rates and increasing unemployment. Oh, and 11 million dependents getting government handouts. Stop the insanity!
It's the endless wars in Ukraine and Iraq that destroyed the economy
Haven’t fact checked your 11M getting a “handout” comment but let’s assume it’s factual. Are you saying there are MORE now than say 10, 20, 40 years ago? So…why complain NOW? Or is this one of the ways to FORCE people to worship a supernatural being at a church, simply to get help, in exchange for doing work at the church, etc.?
I truly like your honesty and information. Very well done my man. I'm subscribing.
The whole buying process from dealers sucks. I loathe buying a car from a dealer. I would rather buy a car straight from the manufacturer like Tesla and have it delivered to my house. Tay way I don't have to worry about getting beat up or screwed over at the dealer. Also, try test driving a sports car. Most of the time it's not happening. Even if I took up in my C7 Corvette and I'm interested in trading it in, they won't let me drive it. WTF!
I read where Ram is halting the sales of it's "classic" pickup and it is the cheapest truck they make trying to make folks buy higher margin vehicles.
This somehow seems like it'd be contagious to the housing market.
Very informative. The public is completely oblivious. Thank you.
Had a call today in which the dealer was trying to buy back an expedition that we got in Dec to increase their inventory. They just trying to get you in and apply the sales tactics to get you to buy again
Not a problem. People can post there cars online and do direct person to person sales
And I hope nobody thinks a Bad economy is Good for paying bills, Last time this happened it SUCKED, Now that all the regulars are starting to realize what's happening this could get ugly fast, Well is already starting 📉🔥, Great Content 🇺🇸👍
i WATCH A LOT OF VIDEOS ON BUSINESS AND THE ECONOMY, AND THIS IS ONE VERY BEST VIDEOS i HAVE SEEN. GREAT WORK.
Prices have gotten way out of hand.. An ordinary vehicle should not be anywhere near the price of a home, and people should not be taking 10 years to pay of off.
People have been living beyond their means for decades. Play time is OVER. Most of us NEED only 20% of what we buy. The rest of it is a WANT. I was forced to cut back about 15 years ago. I am content with the things I NEED.
@@watchmanonthewall14👍👍
@@watchmanonthewall14 That was previously true. But now the problem is that we also have people have no choice but to live beyond their means as basic commodities become unaffordable.
The middle class is being wiped out.
Most banks don't want to do business with independent dealers.
My company just bought a new used work truck. The chevy dealer in salt lake had an online price of 42k. We told them we'd come buy it and when we got there it was magically 46k instead of 42. Dealerships havent had enough pain yet, let em eat what they made
WHY would you allow some dealer to bone you like that? Lots of vehicles for sale. Why not tell him “now you have no sale. Bye”, and then go back home?
They should look to sell them as fleet to government
The mistake big corporations made was they increased the cost of cars and the Average American paycheck did not rise to balance out.
Couldn’t happen to a nicer group of people
DIRECT TO CONSUMER and person 2 person
Yes. Of the Ford, GM and Stellantis Companies, Stellantis is facing an uncertain future. The Chinese vultures are circling and have been for some time. Just waiting to pick off some of the "Old" legacy Auto Companies now owned by Stellantis. eg Alpha Romeo, Lancia. Just as other legacy Auto Companies have already been snapped up by Chinese interests eg MG, Lotus, Volvo, Polestar. Keep an eye on Daimler/Mercedes too because two different Chinese Companies now collectively own 19% of Daimler. Guess what might happen there. (well, one Car Company and one wealthy individual)
Why aren't they looking at traditional USA Auto Companies? Because they don't want them! They have nothing to offer that the Chinese don't already have. Plus, yes, the market is turning to BEV's. (Hybrids only in the short term (5-8 years) The USA dealerships that have been bleating about being forced to buy EV's have a huge problem because the EV vehicles from GM and Stellantis Group are (being blunt) CRAP. Sub par in software and supporting programs. Few have any sort of over-the-air upgrades.
Ford have a chance to survive, due to being more proactive with a couple of their EV's. But they are sub par with their manufacturing process and costs and cannot actually make a profit on EV's. Sort of important for the future, don't you think?
Finally, the Dealership network used by those big three (Ford, GM, Stellantis) which has served them so well in the past 60 years, is now a Millstone and will drown them if they can't get rid of them.
Look at the associated Finance Operations of those Companies this is where the massive amounts of debt is attributed. In the past this has been a money maker BUT... now it will be the final nail in the coffin. The debt cannot be ignored and NO OTHER AUTO COMPANY will purchase a debt laden major auto company. This is the same not only with those big three USA Companies but also with VW, Toyota and the other big Companies. One by one they are collapsing. Probably the next to go, even though relatively small, is Nissan. ALL the Japanese Auto Companies are in dire straights and I'm not talking about the Band.
FYI: I'm an Auto analysist for an Investment Group and have been concentrating on NEV's (both BEV and Hybrids) from China and following Tesla since 2003 BEFORE Elon Musk even got involved. Regarding the future of legacy auto companies in USA and Europe, I'll quote that great philosopher Maxwell Smart. "It don't look good, Chief".
I have not bought a new car from a dealership is 15 years. They screw the hell out of us and they act like they are doing us a favor. The whole back and forth game negotiating bull crap pricing. In the end you waste hours of your life and if you choose to buy the car you feel horrible about the deal. Getting one through my credit union saved me time and energy. They found the car I wanted, gave me a great price, and I signed the paperwork in 30 mins and took off in my brand new car. Easy AF.
Maybe Dodge is hurting, but Subaru must be killing it. We have two humongous Subaru dealerships being built near us.
They're super reasonably priced and damn decent cars. That's why you see them everywhere. We love our Crosstrek.
Man so crazy. Very blessed to be able to just ride my bicycle to work. Probably saved ~ 200k over the last 15 years.
And good for your body! 💯
What happens to all those cars from the closing dealerships? Are they beamed up to Mars?
Facebook is nuts as well. Brokened down cars with bad motors for $2500. Greed will destroy us all.
$8k USD OTD, at 60 months with 7.5% inrerest, $0 down, and 9.75% (cali) sales tax, that is equal to $160.30 a month.
Add in insurance for ~$150.00 month
Add gas ~$400.00 monthly. (Considering this is an economcial truck going to work 27 miles away )
Repair and maintenence fund that is to save for emergency, 300.
Totals is $1010.30 a month on just having a used car
They would need ~$4330.00 gross wages a month, or ~$51960 annually. Thats $24.98 a month to afford ~$1,010.30 in monthly car-related expenses as 1/3 of their take-home pay. For a USED truck!
If car was 17k OTD, same conditions prior, thats 29.45/hr or $61.2k annually. Already tough in most parts of north america.
If car was 50k OTD, same conditions prior, thats 48.26/hr or $100,386.48 annually. Laugable here anything over $50k in this economy.
The construction industry is on the brink-veteran contractors are aging out, and the next generation wants nothing to do with a field plagued by red tape and grueling demands.
Salaries? They're stagnant, losing ground against the relentless rise in food, housing, insurance, and fuel costs. Meanwhile, HOAs are busy policing aesthetics while workers limp to job sites in trucks falling apart, just to build homes priced far beyond reach.
Fear grips the workforce; they're hoarding every dollar, too scared to take on debt for a $17K used truck, knowing their savings will be devoured by inflation.
Billionaires, not farmers, are snapping up farmland, leaving it idle. That decade-old truck? It needs to be under $8.5K, and no new truck should dare cost more than $25K. And let's not even get started on the catastrophic state of accounting across companies worldwide-it's a downward spiral, a race to the bottom.
But the current administration says the economy is great. And they also say Trump is a liar.
@@stevekovacs4093 less on president, more on congress
I've noticed a lot of smaller car lots going out of business here in central california.
thanks for sharing
I don’t understand why dealership can raise the price above MSRP without manufactory approval but somehow need approval for cut selling price below MSRP? I’m confuse why can’t work at opposite way?