Car Market is INSANE Now!

[DreadHeadDrifter]

It truly is wild! Still to this day. I wonder if this is the new normal.

A simple van or even a 13 year old prius with 150k+ miles on it is going for a premium in these markets. I wish I had snagged a new rig in 2019 before everything went crazy.

Weird times we are living in. Hope everyone is doing well. Been awhile since I have been on the forums.

 

[rruff]

Latest index is 217 vs 155 pre-pandemic, or +40%. That's for all vehicles... I'd bet ones that you can live in are quite a bit higher.

 

[hugemoth]

Just looked and the car I bought 5 years and 45,000 miles ago is still selling for more than I paid for it new.

 

[Zerpersande]

It truly is wild! Still to this day. I wonder if this is the new normal.

A simple van or even a 13 year old prius with 150k+ miles on it is going for a premium in these markets. I wish I had snagged a new rig in 2019 before everything went crazy.

Same deal here in Japan. Apparently caused by the long wait for new cars, usually around a year.

 

[beavergod1]

It truly is wild! Still to this day. I wonder if this is the new normal.

A simple van or even a 13 year old prius with 150k+ miles on it is going for a premium in these markets. I wish I had snagged a new rig in 2019 before everything went crazy.

Weird times we are living in. Hope everyone is doing well. Been awhile since I have been on the forums.

Know how you feel. Back in early 09' during the "Great Recession", when they couldn't give new vehicles away, I remember seeing a new 09' Duramax diesel, 4WD, for $29,999 advertised at one of the new Chevy dealers. I was working then, pretty comfortable with my job security, but just couldn't bite. Been kicking myself ever since...

 

[Gr8ful]

The car market is crashing here & looks like many other places. I have a friend at Chrysler & a car dealer, both say no one is buying & sales are way down. Here's a YT explaining it.

 

[user 37446]

Ive seen several of those YT vids yet prices aren't coming down much if at all. Some guy keeps throwing up vids about new trucks piling up but even he says you cant find anything under $40K in a full sized pickup.
(His YT channel is “Car Questions Answered”, seems legit.

 

[Gr8ful]

It's not just you tube but believe what you want. https://www.autonews.com/used-cars/used-car-sales-expected-drop-again-2023

 

[Frood]

From the viewpoint of someone working in the industry, the car market is still completely whack. Not as whack as it was a year ago but still something from bizarro world.

 

[towboater]

From the viewpoint of someone working in the industry, the car market is still completely whack. Not as whack as it was a year ago but still something from bizarro world.

The price has dropped a little compared to a year ago. Bought my wife her first new car in 44 yrs a couple of weeks ago. There was $750.00 rebate and I asked how much off MSRP and they knocked an additional $1,000.00 off sticker. No doc fee or other charges but they did try the suckers bet of extended warranty, no go.
While cleaning out the 2014 I found the original window sticker and it was $6,000.00 less for the same car in 2014

 

[Zerpersande]

…. I have a friend at Chrysler & a car dealer, both say no one is buying & sales are way down.

At least here in Japan the surge in used vehicle prices is driven by extremely long delivery times on new cars, sometimes up to a year.