New Vehicle Prices...

[Weather Man]

Ford EV sales advanced 184% in May

• Ford Motor (F +1.3%) reports U.S. sales increased 4.1% to 161,725 vehicles in May. YTD sales grew 11.3%.
• Electrified vehicle sales soared 184% to 10,364 units.
• Truck sales squeezed 11.6% to 75,665 units, Car sales -62.4% to 5,926 units and SUVs +48.6% to 80,134 units.
• Total retail sales -11.1%: Truck -27.9%, Cars -63.2% and SUV +28.9%.
• F-Series sales up 4.7% on sales of 316,359 trucks.
• With tight inventories, F-Series continues to turn at record rates.
• Mustang Mach-E sales totaled 1,945, F-150 PowerBoost sales totaled 2,852, while Escape electrified sales totaled 3,617.
• Lincoln SUVs posted record sales result for the month with 24% growth on the sale if 7,871 units.

 

[VRYALT3R3D]

on a mustang gt

 

[dunndeal]

In 2015 I started my search for a new car,,, #1 choice was a 350GT. I found one in Livermore (50 miles east of San Francisco) the MSRP was $57k plus a $20k markup.
I said to the salesman "You will probably get it but not from me".
I bought a Porsche Cayman.

 

[CobraBob]

The times, they are a changing!

 

[Weather Man]

New inventory on local lots seems to be at a low point right now. I feel for anyone turning in a lease or trying to buy new.

This Ford Dealer Normally Stocks 1500 Cars; Now They Have 30 (caranddriver.com)

 

[5.0 Hatch]

My small town dealer usually has around 30 or so f-series and a few other SUVs. Typically only a couple used newer f150s. Now zero new vehicles and the lot is partially filled with what looks to be rejects from Joe blows affordable cars.

 

[thomas91169]

New inventory on local lots seems to be at a low point right now. I feel for anyone turning in a lease or trying to buy new.

This Ford Dealer Normally Stocks 1500 Cars; Now They Have 30 (caranddriver.com)

Problem I see too then is with dealers not being able to sell enough cars, they're gonna be laying off people and if long enough, shutting doors. Snowballing up to the mfgr chain with them producing less cars, buying less parts/materials, employing less assemblers, etc.

 

[Weather Man]

Problem I see too then is with dealers not being able to sell enough cars, they're gonna be laying off people and if long enough, shutting doors. Snowballing up to the mfgr chain with them producing less cars, buying less parts/materials, employing less assemblers, etc.

The chains will just gobble up the independents at a faster rate.

 

[BladeX10]

Looks like im going to be cruising along in my 300k mile Honda Accord for awhile longer. No way i'm paying these crazy ass prices i'm seeing

 

[q6543]

This is gonna be 1 heck of a boom/bust as chips get ramped up and a flood of 100s of thousands of 2021/22 vehicles pour on the market in the back half of 2022/23

 

[gimmie11s]

The bust is coming. Bet your ass on it.

Those that stow some cash away and have the patience to wait will be rewarded nicely.

All this shit is cyclical, always is.

Sent from my iPhone using svtperformance.com

 

[me32]

The bust is coming. Bet your ass on it.

Those that stow some cash away and have the patience to wait will be rewarded nicely.

All this shit is cyclical, always is.

Sent from my iPhone using svtperformance.com

Yup, big time

 

[Weather Man]

Higher prices spark the auto retailer sector

• Cox Automotive says tight inventory of automobiles in the U.S. is not noticeably impacting sales, particularly on the used-vehicle side. "In fact, the monthly retail used-vehicle sales pace – apart from two dismal months in spring 2020 – has been remarkably consistent since early 2019. The only shift has been the big jump in average listing prices," notes the firm. The chart below from Cox Automotive indicates a strong pricing trend right through the end of May.
  
• Auto industry inventory hit a record low near the end of May, down 43% from the 2020 level and off 54% from the 2019 level, in a trend that may take months to reverse.
• Auto retailer stocks are seeing strong year-to-date returns, led by AutoNation (NYSE:AN) +35%, America's Car-Mart (NASDAQ:CRMT) +34%, Penske Auto Group (NYSE:PAG) +32%, CarMax (NYSE:KMX) +26%, Asbury Automotive Group (NYSE:ABG) +19% and Group 1 Automotive (NYSE:GPI) +18%.
• What to watch: The huge electrification push by General Motors and other major automakers is expected to eventually also disrupt the used car market.

 

[smitty2919]

In 2015 I started my search for a new car,,, #1 choice was a 350GT. I found one in Livermore (50 miles east of San Francisco) the MSRP was $57k plus a $20k markup.
I said to the salesman "You will probably get it but not from me".
I bought a Porsche Cayman.

You can't fix stupid. People willingly paying $10+k over what the damn thing is worth is just asinine. How often do you NEED a new vehicle and can't simply wait for things to normalize? But hey, not my car, not my wallet not my problem!

Going to be funny when paying that much over sticker only for the car to "depreciate" MUCH quicker when the part supply gets fixed.

Car market and housing market will take a huge dump...just a matter of time.

 

[tones_RS3]

The bust is coming. Bet your ass on it.

Those that stow some cash away and have the patience to wait will be rewarded nicely.

All this shit is cyclical, always is.

All this governmental spending and inflation is a sure thing for a recession.

 

[noco5.0]

Saw this interesting update from John Clay Wolfe the owner of GivemetheVin.com commenting on wholesale used car prices.

We see market moves way before the press catches up. However, for those who care, we sold our thousand cars today and the car fever has cooled off in this heat. The car wholesale market was oversold huge, many took advantage and sold their used cars to companies like GivemetheVIN.com carmax and Carvana for at or more than they paid for it 1-2-3 yrs ago. Like lumber market, it just got goofy, and still is very high, higher today than years prior, but the helium balloon popped today. If you want to know what your blah blah blah is worth, I can tell you about 8% less this afternoon than before the automotive exchange bell rang in the 5 GMTV trading posts in Dallas Texas this morning. We set the market right here in the middle of the US. Some days are smiles, some are frowns. When you plan for the frowns, it’s not surprising. When a 3 year old Toyota Tacoma is selling at wholesale auction for the MSRP price it had on its window 3 and 4 YEARS ago, that shit ain’t sustainable. I read in the journal where lumber prices coming down quickly too. I think it’s good, hyper inflation is bad. I wrote about it few months ago when the used market when sky high, said yes we were making record profits but at what true inflationary cost? Like all capital markets, they tend to correct themselves, and hopefully that’s what we’re seeing starting now. TTYL

 

[Weather Man]

Saw this interesting update from John Clay Wolfe the owner of GivemetheVin.com commenting on wholesale used car prices.

We see market moves way before the press catches up. However, for those who care, we sold our thousand cars today and the car fever has cooled off in this heat. The car wholesale market was oversold huge, many took advantage and sold their used cars to companies like GivemetheVIN.com carmax and Carvana for at or more than they paid for it 1-2-3 yrs ago. Like lumber market, it just got goofy, and still is very high, higher today than years prior, but the helium balloon popped today. If you want to know what your blah blah blah is worth, I can tell you about 8% less this afternoon than before the automotive exchange bell rang in the 5 GMTV trading posts in Dallas Texas this morning. We set the market right here in the middle of the US. Some days are smiles, some are frowns. When you plan for the frowns, it’s not surprising. When a 3 year old Toyota Tacoma is selling at wholesale auction for the MSRP price it had on its window 3 and 4 YEARS ago, that shit ain’t sustainable. I read in the journal where lumber prices coming down quickly too. I think it’s good, hyper inflation is bad. I wrote about it few months ago when the used market when sky high, said yes we were making record profits but at what true inflationary cost? Like all capital markets, they tend to correct themselves, and hopefully that’s what we’re seeing starting now. TTYL
View attachment 1708223

Until dealers have new inventory, hard to see the used values subsiding.