Automakers need to do some serious navel-gazing about price levels and going upscale, if they want to sell more vehicles.
Auto-loan balances surge on sky-high prices, despite sales plunge. Delinquencies rise to pre-pandemic lows, subprime delinquencies return to 2016-2019 levels.
Buyers’ strike is in effect. Used vehicle retail sales drop, dealers sing the blues but don’t want to cut prices from their ridiculous levels.
Automakers are huge advertisers. Social media platforms are huge data collectors. And now Tesla’s Musk owns this data.
By brand & segment: Big incentives or interest-rate buydowns for pickups. But many Kia, Toyota, and Honda models essentially out of stock.
But Toyota barely raised the price of the Camry. Here are 32 years of real-world price increases compared to the CPI for New Vehicles.
Very different from prior recessions when the industry was caught with huge inventories and large production runs.
The model of “growth at all cost” has been taken out to the dump.
But Kia, Toyota, Honda: nearly nothing on the lot. Where the shortages are, and where ample supply is, by brand and segment.
Totally Crazy Irrational Price Spike of Used Vehicles in Serious Unwind Mode.