The Car Market is STUCK! Dealerships are OVERSTOCKED and OVERPRICED!
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- Опубликовано: 9 мар 2024
- The new and used vehicle market has crashed. Dealers are overflowing with inventory and have failed to lower prices enough. If you see a dealership with "low" inventory, keep in mind that they likely have a separate lot elsewhere with their carryover units. Dealers really took advantage of people during the last few years, we are now finally seeing things shift to a BUYER'S MARKET which is great. I foresee the car market getting worse before it gets any better. After tax season, the market will take an even harder downward swing, I'm confident in that. There is an enormous amount of carryover 2023 models still sitting on dealership lots, just collecting dust. People just aren't buying vehicles right now. Between the wicked high interest rates and inflated price tags, it just doesn't make any sense to buy.
In this video I swing by multiple dealership lots, speak to salesmen, and learn which manufacturers are doing the most to sell their inventory. I stop by Ford, Honda, Toyota, GM, Buick, Dodge, Ram, Jeep, Chrysler and Nissan. I'm baffled by the prices I saw!
Keep in mind that there ARE good, honest dealers out there... but unfortunately they get overshadowed by the greedy ones. In this video I showcase a Jeep, Ram, Chrysler dealership adding a $10K MARKUP on their Ram TRXs... which absolutely pitiful. Those 2024 Ram TRX Final Editions are being listed at invoice left and right and here this dealer is trying to take advantage of someone. Pure greed.
Let me know your thoughts. Do you think the new and used car, truck and SUV market will improve in 2024? Or do you think the car marker will crash entirely? I really appreciate you tuning in, thank you! If you haven't already, please consider Liking and Subscribing to the channel, your support means a lot and I greatly appreciate it! Thank you.
-Stay Untamed...
#carmarket #marketcrash #markettrends #autosales
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I don't know who the automakers think can afford these over priced vehicles. They can keep 'em.
It's the consumers fault that they're that high. If people wouldn't have rushed the lots during covid. And not bought into the hype, then it NEVER would of got this bad.
You are not thinking correctly. 1200 car payments and going in massive debt it’s the correct mindset.
I think the manufacturers just over did ALL the trims with nonsense people really don't need and frankly don't even know are in the cars until 6 months a year after they get them. It's just crap
It’s mostly the dealerships marking up prices
Search the msrp given by manufacturers
118k for a dodge.. good lord it’s hard to believe there are people out there that stupid
Maybe a Ram 3500 Cummins with all the bells and whistles for $100k
@@reecec8490not even then 😂
@@reecec8490 I can see where you’re going there. Even then 100k is steep.
@@juleswinfield94 what Lamborghini truck do you speak of for 100k?
@@donaltemus3565nope a Urus (Lamborghini SUV) lists over $200,000 without markups and it’s a VW Group product
Not too long ago, we could buy a house for these prices!! Nuts!
How do people justify these prices?
Still can buy a house for 120k in some parts of the US. The communities aren't great, but it does exist.
10 years ago a mid range 1/2 ton pickup was 1/10 the price of a base Porsche 911. Today they’re close to the same price. Nuts
Yup, about 30-40 short years ago. People have house payment for a f*cking car now. Insane! They are pricing out of the market average Americans. Henry Ford is rolling over in his grave.
Still literally 50 percent higher than the avg folks can afford. Let em rot
Oh, it's a much higher % than that. Based on the average American income.....Way more! The average American working 2 jobs, can't even afford a car payment.
I think what you meant to say was they need to be discounted 50%😉 which means they are 100% (twice) as expensive as they should be
95% of America cannot afford a 100k vehicle plus 11-25% interest rate and higher insurance.
Yeah there's just no way. Prices are still way to high.
ive seen some crazy full coverage insurance rates on new vehicles, AND it was on ppl who were middle aged with a good driving record.
God only knows how much it is for a teen and/or person with an accident or DUI.
5% is about 15 million ppl... this is why they DONT CARE...
Don't forget about the much higher taxes..
Many Americans need a financial and ego reality check. I know so many people who finance over-priced vehicles WAY outside their income bracket at 10%+ interest rate and boast about how it was a good deal.
It's like they would rather go down with the ship than to sell at a reasonable price.
Counting on a government bailout maybe…
@@jmatarazzo18the government just printed more money so they can definitely can afford to bail them out again 😂
$1800+ a month for a 3/4 ton pick up is INSANE .
It’s ridiculous… but our new reality unfortunately. =\
@@UntamedMotors Who is "our"? I'm not paying $1800 a month for any vehicle. That's almost the monthly principle on my $375,000 30-year mortgage, lol. That's the problem. You all are normalizing these prices and encouraging these greedy dealers and manufacturers to keep the market afloat. These RUclips channels complaining about the prices are the same ones buying up expensive vehicles and keeping the market inflated. It is somewhat hypocritical, in my opinion. You keep buying these expensive vehicles to complain about how expensive they are.
I refuse to spend anywhere near that. You can get a 3 year old v8 truck for 30k.
What bank would approve that for anyone.
@@UntamedMotors the new reality means that makers need to go out of business. We as consumers need to say no and punish them for this ridiculous pricing
I’d rather have a hot knife stuck in my eye than visit a dealership
lol you’re definitely not alone on that haha
That’s why Untamed went to Colorado Dealerships on a Sunday.
@@J.Young808..what does that mean??
@@Jeremya74stealerships are closed on Sundays.
@@jeffreybischoff6772 gotcha..haven't been to a dealership in over 15yrs
Can’t understand Untamed, how the automakers think people can afford these prices ? I won’t be buying a new vehicle for a long long time.
I mean I guess they think everyone is getting paid 36% more since 2019? It’s ridiculous, I agree. 🤷♂️
@@UntamedMotorsthey know WAY more than people give them credit for..no one EVER thinks maybe the high prices are on purpose.in due time we will know why
When someone says " one day you'll get what's coming to you" my friends its coming to them dealers.
the MSRP's were pulled out of their arses so offering "employee pricing"...25% off etc. is laughable.
Its obvious that dealerships can't give up their greed, the remedy is just dont buy let them vehicles rott on their lots.
That’s the unfortunate truth… I don’t feel bad for em.
Problem is if new cars don't sell,a few year down the road,there are no used vehicles
@@Jeremya74I guess millennials , who’ve all been told it’s horrible to work, will just have to learn to fix what they’ve got.
@@ChickenC0re you got that right..lol
We all just might have to. Well, the vast majority of us anyways.
I work a honest living as a mechanic and couldn't afford a 30k vehicle payment right now with the cost of living. Dont know who is buying these 100k vehicles? 😮
Unless these new vehicles are reduced to 30-40k, most Americans can not afford them. The dealers must take a loss in 2024 in order to survive in 2025.
They’re running on the fumes of the good times where people bragged how “little” they paid OVER MSRP & hoping there’s still a few suckers left to ripoff.
Until all the automakers WAKE up and bring prices BACK DOWN TO EARTH.Forget buying a new vehicle . Quality is also horrible on all makes and models the last couple years . Saw a work truck model gas engine for 60K ,PURE INSANITY
I went to two dealerships today and I cannot believe the prices of used cars and the new cars prices are just ridiculous.
Yeah they’ve gotten completely out of hand… =\
Price gouging continues throughout the dealerships. There's a big issue with dealerships service department as well. Warranty work on recalls. Oil changes if you don't have the time to do it. Check the engine for loose tools. If you're getting your tires rotated, make sure the lug nuts are tight. They fix something, but intentionally break something else.
The longer that a vehicle sits on the lot the worse that the condition of it gets. Rusted brake rotors dead battery stale gas dry rot on the tires from being in the sun fluid leaks. The car lots are just turning into hazardous waste sites.what do you with 500 gallons of gas that is stale?😮
Yep you’re right. Lot rot is a real thing… =\
Car industry is about to get very interesting in the next few months to a year… hope my patience pays off and I can finely get a truck!!
Same here.
Back in 2007 I was shopping for a Chevrolet Tahoe. Had a dealer tell me they had to sell it for $48,000 so they could at least make $400 on the deal over wholesale invoice. My brother had a friend working for GM corporate and told me the dealer was lying and based on the price the dealer would get around $12,000.
what goes up must come down. can't wait to see what happens next year.
Very very well done, thank you for not running around saying the sky is falling!!! But just giving us a clear precise and professional view of the current market.👍👏
Thanks a ton for the positive feedback, really appreciate that! 🙏🏼
Here’s an example of how bad it is. Take a brand new truck at $102k and get a quote from car max, they will offer $50k less the same day. Buying a new truck is absolutely insane.
$299 to lease a hornet? LOL weekly, bi weekly...monthly? What's the down payment? mileage allowance? residual? it's all a shell game and the train wreck is coming and I don't feel sorry for the manufacturers or dealers.
You can toss the UAW in with the manufacturers and dealers. Who do you think pays for those wages and solid gold benefits?
Unions helped make Detroit the pristine, prosperous place it is today.@@IP0Monsturd
@@IP0Monsturdreally? Most cars people on here can afford to buy are made in Mexico. What does the uaw have to do with a $35k car made in Mexico? 😂😂😂
10% off msrp used to be an easy haggle. Shoot for invoice minus their holdback and work from there. The nice thing is you can always walk away.
$51k plus dealer fees, taxes, interest rates = $62k+ for a Nissan Murano. That vehicle should not cost more then $40k all in!
*If the average would-be buyer refuses to overpay, then the average seller won’t overprice. Simple formula. 🤓So, let us all buyers unite against this madness. ✊*
Until companies give ,300% pay raises these vehicles will get lot rot.
Don’t buy from OEMs that raised their MSRP during COVID. Wait for the MSRP reset. Toyota, Honda, Mazda and Subaru didn’t jack up MSRP to take advantage of buyers. Never buy from dealerships that jacked up their prices, either. Don’t pay dealer add-ones.
Overstock and sales are down, but dealerships still not lowering prices down much. I’ll wait.
Yeah it’s hard to feel bad for them huh?
I’m in the market right now for a used Tundra. There are some nice ones at good prices but you get in the dealership and they force you to pay $2000 for an after market GPS, nitrogen tires, paint protection etc and they won’t budge off of that garbage. So, I’ve just decided to buy from private sellers. I’d rather give the money to the regular Joe selling his vehicle vs the stealerships
I’m with you. Private party deals are the way to go right now. 👌
Also watch out for "window etching!" I just bought a new Jeep Wrangler and the dealer got me for $299!
Got stiffed on glass etching and paint protection once. Also look out for the gap insurance, they will get you for that if they can
I went to buy a new Grand Cherokee and they actually discounted all the extra bs from the add ons but were unable to get my payment lower than $700 a month. As much as I wanted and have been wanting that Jeep, I put my emotions aside and walked out. For two hundred more a month than my last jeep, I just can't justify it. It ended up working out really well. I don't drive much anyway and I'm saving 1k a month in payments, insurance and gas. I just use my bf car a couple times a week when I need to go somewhere.
@@beatrixbrennan1545 good on you for putting emotions aside and making the smart call 👌
Consumers want under msrp. Dealers still hung up on charging over msrp and dumb add ones. $1500 for floor mats and locking lug nuts and nitrogen in tires….
The issue is also with used vehicles, here in British Columbia, Canada, if you try to get a 1999 Honda Civic Si or SiR, your looking at $5-8,000. That's insane, of course I'm cherry picking good condition ones but none the less, its insane. Old Honda Preludes, Accords and even Acura Integra's are holding value like crazy in the $5-10,000 range. I'd love to buy an older 2012-2014 Subaru STI but I can't find one cheaper than $18,000. Some are in the range of $22-25,000. It's insane.
Dealerships are definitely not motivated to sell. I took my Kia Soul in for its 30k service and they called me wanting to sell me something. I had some interest in the Sportage and could use something alittle bigger for longer road trips. $35k and up which is ridiculous. The dealer has 49 of them on the lot. I would never pay $27k for a bare bones Ford Maverick. The car manufacturers needs to see a major collapse.
I looked at a 2015 Toyota 4 runner, it had 88,000 miles , dealer was asking 30,000. Dealers are out of there mind, for another 10,000 I can get a new one.
They are doing just fine, when I start seeing dealerships close up then its time to buy
My transmission blew on my 2006 car last week and I started looking for a new car and it's insane how high the interest rates are in the monthly payments. I can put down a good $7,000 as a down payment and then I look around and they want like 5 to $600 a month for payments and that's just on the generic website without running your credit.... It just makes no sense
Much Truth To This Report, Just Returned From My Sunday Morning Drive, Big 3 Dealers In My Area Are Absolutely Loaded With Inventory! Thanks For A Clear And Consise Report!
Thanks brother, it’s going to be an interesting year for the car market.
Drop Prices…drop prices…
Assuming there is a market for the product, the solution for excess inventory is not difficult to figure out. Cut the price! If that isn’t getting it sold, cut price more. Rinse and repeat as necessary.
Not only are prices high, many people have negative equity and can’t get LTV beyond 100.
Untamed I wish you could travel the country & compare & contrast let’s say CA versus TX or NY versus FL. I know it’s pretty dang obvious but the numbers I reckon would be shocking! Keep up the great work!🇺🇸🇺🇸🇺🇸
Thanks man! Yeah that’d be fun to do… I’m sure CA is off the charts with markups and greedy tactics by comparison to a place in the Midwest.
Canadian Geese are honking at the outrageous rip off below !
Dealers can't hide from their vantage point.
I just was at my local chevy dealer pricing out a 3.0 Duramax 1500. $3k ADM along with Mandatory $2295 ResistAll, Other Taxes $114.97, VTR (Vehcile Theft) $195. What other taxes shoudl be added if the State Tax is already $3355.65? The Doc fees were $395 and the Estimated Reg Fee was $512.84. These Fees I totally understand. Total Taxes and fees on top of the $3k ADM was $6868.46. And this was for a 2024 Chevy 1500 LT Model.
Walk away
Just wait 3yrs the Car/Truck market will have to bring prices down do to inventory overload.
I love driving by all the dealerships in DFW and seeing all the trucks on the lot. Crazy truck prices! Just ridiculous!
Mark up of 10k on a truck that doesnt sell and almost never see on the road. It was nice though
Another excellent video,appreciate the heads up.🙏🏼👍🏼🇺🇸
Really appreciate it, Albert! Thank you. 🙏🏼
Great video, really good insights. Thank you!
Thanks brother! I really appreciate the kind feedback. =]
Those Seagals sound outraged to at those sticker prices. They know something is up.
Haha that they do! lol 😆
Cobra chickens
Canadian Geese are honking at the outrageous rip off below.
Dealers can't hide from their vantage point.
Hey man, thanks for the hard work and content! I live in the Denver area, not too far from Fort Collins, but a similar market. This video was very informative and helpful. Thanks again
Really appreciate the support man! Thank you for watching and thank you for the positive feedback. =]
People who thought paying overpriced for generic American vehicles have now found out how bright they aren’t. Overpaying is not a great idea, now they have used junk selling at original price when it first sold, except it’s got 30, 000 miles. No thanks let’s see what happens lol
2024 titans are discounted 13k off msrp around my area along with a low arp.
Yep! I almost pulled the trigger on one just like I show for $51K. Very tempting.
@@UntamedMotors as did I. I want that naturally aspirated v8 before they are gone. But I'm going to wait for the 0% apr for 60 months that is usually offered around June or July from them.
Enjoy the channel and I am a regular watcher now. I think a series of videos on the "best deals" would be cool, and then even track those over time to see how much better they get. For instance i am tracking Ram 3500 prices. I live in SoCal, but Dennis Dillon Ram in Idaho has the best advertised prices i can find, so they are my benchmark and if i buy i would be willing to fly there to buy. But ram is taking 10% off MSRP right now, and then Dennis Dillon doubles that, so 20% off MSRP. Still not low enough for me, but its getting closer. Could be a fun series of videos as the high sticker videos are not very surprising anymore. Keep it up!
Never EVER walk into a dealership until you’ve already done research on the vehicles you’re interested in. You can talk $$$ with several dealers online. Don’t waste time haggling in person.
Agreed 100% 👌
Great video untamed!
Thanks a ton, Jojo! =]
Thanks for the video
Thanks for the video, very informative!
Thanks Kevin! Really appreciate the positive feedback. =]
@@UntamedMotors walking those lots so we don’t have to, thank you!
Good video as usual. Pre covid I could get Trd pro for 3-3.5k off msrp. I finally see dealers advertising 4-6k off the 2024 tundras. To your points the industry has tons of cars now vs just 12 months ago. Just wait it all out. Even corvettes now have 3-4K discounts off sticker and are sitting.
Nice video. You hit right on the head...from insurance thru sticker. I'm 50 and my insurance has gone up every 6 month renewal. And the repairs are thru the roof. I have an 18' Accord 2.0 I bought new and it needs a new Rack-and-Pionion. 5K to replace and that's from a quality shop specializing in Japanese cars. So the problem is circular, run into a major repair and you need to dump it and you deal with a lousy market and high interest. You can make 100K and it's ridiculous to expect to afford a 5 year loan on a 50K car note.
Pain is coming beyond our wildest dreams………….
Dean from "Supernatural". Knew you reminded me of someone - finally came to mind.😂 Yeah, I went to a Hyundai dealer in Daytona Beach a few weeks ago. Their lot and overflow lot are packed with cars new and used. Their discounting a bit below MSRP on almost every model. I bought a 2023 Tucson from them in December and traded a 2021 Subaru Legacy for it (sedan wasn't working for my needs). They tried to sell the Legacy for 2 1/2 months and ended up sending it to action. They just have too many cars.
Great video bro.
Fabulous presentation, a unique chance for those of us that don't work in the field to take a look "behind the curtain". Thanks
Thank you for the positive feedback! Much appreciated man! 🙏🏼
Great video and you're spot on!
Thanks a ton brother 🙏🏼
Outstanding video!
Thanks a ton! Really appreciate that positive feedback. =] 🙏🏼
Dad retired from Ford in '00. The last decade worked he traded in every 2 years, using the employee A Plan. He earned 80-100k yearly (skilled tradesman at max pay scale) from '90-'00, depending on working Sundays. Eddie Bower was the top trim of Explorer & Expedition. He traded in EB Explorer for EB Expedition in '98. Explorer 25k, & the Expedition was 30k. Fast forward 24 years. Top trims are 3x cost of '00, or 1.5-2x of '19. The dollar is now worth 3x less & Inflation + living expenses are 2x more. Insanity!
Damn you really went in. Well done.
Great work
Thanks a ton brother 🙏🏼
You said it all so I don't have to. Great video!
Thanks brother! 🙏🏼 Appreciate you watching. =]
drove to the mall today and saw one of the parking lots being used as overflow for a toyota. There was a crapload of them there.
Bro that might be in the middle of nowhere. Unfortunately, down here in FL dealers give 0 shits and they ARE still overcharging and unwilling to negotiate.
I checked wholesale price on that white BMW, and it is the actual wholesale price that the dealer is showing on that public notice tag
Oh wow that’s great to hear! 🙌
I have a customer adjustment price of 35% off current prices, for me to even get on the lot. 😂
You don't have to pay to look at cars..what do you mean?
Untamed, In Hawaii, doesn't seem like the Car Market Crash is affecting us here. The dealers still have crazy markups. Raptors....with almost 30 of them here on Oahu, and still asking $20+ ADM's.
I thought Windward Ford would be nice guys, using Kelly Boy Delima to seem like an average Joe dealer. They are also a dealer that sky high mark up on Raptors.
@@J.Young808 I went down there too. Looked at a white 23 raptor about 2 months ago. They went down from the $20k adm to $10k adm. Honestly, I can swing $5k adm. The same raptor is still available as I type this.
Thats is the downside of being in an island. You cant drive across a different state to buy and drive back. So dealers know that you’re limited of options so they will overcharge.
Honda dealerships on Oahu are disgraceful... marking up literally everything
Thx for the report though.
Thanks for the video. Planning to go negotiate for a f-150 in April with the market dropping
Good luck! What trim you shooting for!?
I wonder if some of these dealers are pricing vehicles that should be around 65k for $90,000 and up. Is so they can give a “deal” by taking $5,000 off the price. So your still paying $85k for a $65k vehicle but you got a “deal”
Good video. Thanks.
The only way these prices come down is for people refusing to buy their product. Thank you for shedding a light on this craziness. Enjoy your channel.
It’s my pleasure man, thank you for that positive feedback. =]
Canadian goose song is a hit right now
lol 😂 he hit that falsetto like a boss.
Great videos sir
Thanks man! 🙏🏼
Am I the only one that thinks the manual Versa S is pretty slick? 17.5k for a 2024 ain’t bad!!
Haha I’m with you on that… a new vehicle with warranty for $17,500 feels like a solid deal in today’s world… 👌
Exactly, a brand new sub $20k car without the shitty CVT is a smart buy. That's a Nissan that should outlast most of their lineup.
That house is lit!🔥
That chip shortage was a farce to raise prices. There wasn't any chip shortage for cellphones, computers, tvs, and all the other electronics being made.
As usual, well done Sir!! Untamed, continually bringing facts about shady fluff, exposing greed and shedding the necessary darkness on outright dealer absurdity. Wouldn't it be nice if dealership owners had to wear a scarlet letter at all times? They'd walk into a coffee shop, "oh, you own a car stealership? In that case, your $5 cup of coffee is $39.99. Have the blessed coffee and day you've earned." Inflation world wide is painful to all. This continued dealer greed....shameful.
Dealerships are usually not individual but owned by corporates. Berkshire Hathaway from Warren Buffett is one of the largest dealership groups in America, with over $9 billion in revenue and 81 independently operated dealerships.
Good video. I like that your analysis is more focused and less dramatic. I dont know when American manufacturers started thinking they could compete with premium Japanese and European brands in pricing?. This pricing level is a gross mistake and they all will pay a huge price for it.
Just got $4700 off a new 24’ Tundra Limited and financed with Toyota @ 3.9%. Sold my 06’ for $13,500 (235k) and put that towards the new one. Overall I’m in for $47k. Not too shabby.
Nice! That’s great to hear, hope you’re enjoying your new Tundra!
Who in there right mind would buy your 20 year old truck with all those miles for that??? That truck new In 06 was 27k!! Wtf
@@ZukaBro It’s the going price for an 06’ 4x4 with perfect records and zero rust. It could have fetched $15k. The 1st Gen Tundra has a cult following. Especially when they’re clean and maintained. I had 15+ calls on it.
Excellent commentary on the market. Free money really contributed to the pricing structure, and then the pandemic and supply chain issues created the perfect storm for greedy business practice and for lack of a better word, stupid consumers. I did pay sticker for my 23 LX 10 months ago, and got 5k off the sticker on my 24 ES 300h ultra luxury. We will drive them both for a while. The LX was the first car I ever paid sticker for, but at the time, people were, in some cases, paying 30k over sticker. The market dictates the price, looks like the cabbose has caught up with the engine, glad I'm not in the car business right now.
Thanks man. Agreed, well said. I paid sticker for my LX600 F Sport a few months ago too… I felt good about that as well. At the time. 2024 will certainly be pretty interesting… 🤔
These dealers made so much profit during the pandemic that now they are using that profit to pay for these cars sitting on the lots hoping they can ride it out until people have to buy cars again.
These dealers are shady AF and people need to stay away from them until they are forced to lower the prices down to where they should be, back to pre-pandemic levels. So that would be about a 50% drop in prices because that's the insane markup they had.
Awesome video
Thanks brother. Really appreciate the kind feedback! =] 🙏🏼
@@UntamedMotors to the point simple, honest video ,multiple car dealerships ,information was good ,it's almost like they think everyone is selling fentanal 🤦🏽♂️🤣
Would be nice to see more base models. Automakers are still working double overtime to jam high-end trim levels down the buyer's throat.
I wouldn't pay 6 figures for a dodge if it was the last car in the galaxy.
I mean, that manual transmission Nissan Versa is a great deal. Usually Nissan's downfall is the CVT, so the manual might make it a really reliable and cheap option.
These crazy high prices is why car sales folks want to talk to you about monthly payment and not total price you will pay for the vehicle. These days they are pushing 72 month loans!
I just worked a deal on a new 2024 Toyota 4Runner TRD Off Road premium with the X series package for 53,000 OTD.. It was a lot of back and forth but the MSRP was 57,500 so I don’t think I did too bad and we got everything everything we wanted
No Ridgeline on the lot at my dealership. Prince is only 10 % higher than 2018 and smart to cut inventory so no need for fire sales. Crazy to conclude market is crashing more consumer hope than reality.
Yeah subaru didnt really seem interested in reducing the price on a wilderness outback....it was interesting to go in the dealership in these times.
Yeah some dealers think this will pass soon. Not the case. 🤦♂️
Love these vids keeping people informed! Man it is crazy what some of these vehicles are going for. Great work brother!
Yes you got that right