The car market is in a state of paralysis right now. Dealership inventory levels are through the roof. Many dealers are being forced to close their doors, they just can't stay afloat. In today's video I talk through a new grouping of facts, stats and figures that explain what got us to this point. The car market is crashing before our eyes, what comes next? In this video I talk through he following points: - 2023 and 2024 models are still covering lots… 25s are now arriving. - Lot rot becomes a point of consideration - Large price cuts must happen - During pandemic we’ve normalized high car payments and overspending - Discounts are happening on vehicles that were recently marked up! - Raptors, Bronco Raptors, TRD Pros, TRXs, Escalades, Yukon XL Ultimate Editions, gx550 Overtrails, etc.. - Huge discounts mean nothing if your Trade In value went down even more than the savings… - $10-15K off a vehicle that’s overpriced by 30K still isn’t a win. - Stellantis CEO recently resigned… laid off thousands of employees… - Nissan to layoff off 9K people. - Many dealers are losing money month to month. More than 50% of Nissan dealers - Dozens of dealerships that have been around for a long time have closed their doors this year. Ford, Lincoln, GM, Jeep Dodge Ram, Fiat, etc… they just can’t stay afloat. - They redirect inventory to higher turnover locations under the franchise. - Vehicle manufacturers are still living under the pandemic fassad… inflated price tags on everything. Prices of vehicles have far outpaced wages and salaries of Americans. - The vehicles in the 25-35K range are actually selling. Because people can actually afford. - Toyota doesn’t know how to handle an inventory crisis. Many Tacomas and Tundras are showing 200+ days on lots. - Backlots are filled to the brim. - Dealers can’t even hide their inflated inventory levels. - Dealership employees are quitting… salesmen are leaving. No vehicle sales means minimal paychecks. - Stock values have come crumbling for auto makers… 50% for Stellantis… Toyota has seen a huge drop too. $250 per share back in March is now $175. - Dealers need to cut losses right now to earn customers… re-earn the loyalty they burned during the pandemic. - Too many dealers apply a near-sighted business model and refuse to look at the big picture. - Across the board, MSRPs continue to rise while quality diminishes. - Toyota wants to put out “throw away vehicles” 3-5 years cycles… vs 10-25 years - The dealers that charged markups are kicking themselves. - New average new vehicle price is $48,401 - MSRPs have gone up 42% since 2019 - Wages have gone up 34% since 2019 - Average auto loan monthly payment out on a new vehicle is $760… 1/6 auto loans are over $1000 per month… and 1/5 auto loans applied were denied last quarter. - Prices of rent, mortgage, insurance, groceries, etc have gone up in drastic ways too… rendering it nearly impossible for Americans to keep up. - Average 2 adult with 2-3 child household income needed to live comfortably now in the US is between 215-230K depending on region. There are 6 cities that require 300K to live comfortably. As always, I sincerely appreciate you taking the time to tune into these videos. If you find any value in this type of content, please consider Liking and Subscribing...your support means a lot and certainly doesn't go unnoticed. -Stay Untamed... #carmarket #marketcrash #vehicles ENGAGE WITH ME ON INSTAGRAM: @untamed_motors