Car Market Collapse | Dealers FINALLY Forced To Lower Prices

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New car inventories continue to rise across major brands, with fleet sales having a fairly sharp increase from January 2022. However, new car ATPs rise as well. In the used car world, Californians can get more for their trade-ins, while everyone else can enjoy lower buying prices.

0:00 Intro
0:25 New Car Market Update
6:12 Used Car Market Update

[doggy]

Last August Carmax offer me $20, 000 for my 2016 Honda HR-V. This week the offer was $15, 000, I did put 3000 more miles on it. That is a significant drop all things considered.

[sebastianpinto]

Same here I’m seeing prices still crazy high, prices went down a little 1-2 k but still priced overall 10k-20k what they should be, patience is the name of the game here

[bethhayes]

If these uneducated folks, who dont watch youtube videos, would STOP buying them. The prices would finally go down!! Stop buying cars folks! Put the pressure on!

[Nlorbliaya]

I am looking at a car every day . No price reduction.

[NJFloyd]

Used car prices not budging in NJ. Carvana still high also. $14995 for 2009 Camry with 65k miles. Outrageous

[findingdori]

I’m so beyond excited that these crooked dealers are finally getting back the very hand they dealt! 💪

[markrichards]

Local Honda dealer here already got and sold 4 2023 redesigned Pilots. They have 12 2022 new models still on the lot priced mid/upper 40s. Been there for months. Not selling them for that money, still won't reduce. Those probably end up in auction if they don't reduce drastically.

[RLTtizME]

I think this topic has now been officially beaten to death.

[Mimi_joe]

Waiting to buy a new Colorado. Haven’t seen any prices come down here in Miami 🤦🏻‍♂️

[Liferoad]

I just went to my gym in Calif. and I noticed 3 Broncos in the parking lot and
I know that all 3 paid over MSRP for them, I need to get out of California!!

[cfaust]

We live in an “I want it now” society. Many people have no ability to defer getting what they want. Even when it will save them serious $$$.

[rogy]

Not seeing prices come down here at all. Arizona. Desert Toyota still $5K over msrp

[g.k.]

I am glad that you mentioned the sticker shock that most Americans are going to see if they were expecting the tax return that they have become familiar with during the past few years. Yesterday you discussed how this time of year typically brings in more sales as people use their tax returns as downpayment money. My daughter who is trying to determine if she wanted to buy a used or new vehicle just did her taxes yesterday and found out that she is only getting a few hundred dollars back. She was hoping for 4 digits to help pad her new car nest egg that is currently at $12K for a vehicle downpayment. People with a credit card balance will probably decide to keep their trusty rusty.

[sherrryann]

I've also noticed high mileage only vehicles being the new norm. Like an alarming amount of miles. ie 25K-50K miles per year, mind-blowing mileage.

[jess_o]

I've been keeping an eye on used BMWs in my area and everything in the $30-40k range has had about 2k taken off the price over the course of the past 2 months. Here's hoping for more!

[LanceMcGrew]

Over the years we've purchased new, trade-ins from local small town known families, off-lease, and rentals. Best value has been 2019 Equinox Premium purchased from dealer with access to rental fleets.

[patchesohoulihan]

Purchased a 2023 Lexus RX500h F-sport performance tonight. When I made the appointment 2 days ago to meet with someone, they had 4 in stock and 6 other hybrid RX350's. Down to 1 500h and no 350's just non hybrids. No discount on the MSRP or Mark up, but they gave me the 4/50k mile scheduled maintenance plan for free. Paid cash on top of it and wasn't penalized for doing as such. Looked at 4 other vehicles prior, and the Ram/Jeep dealers wouldn't budge on pricing and, in fact, wanted to mark it up after seeing I was going to pay cash. That was after getting the OTD pricing and just walked out of the dealer. Mercedes model with similar options was almost 12k more and had to be ordered and could take 6 months to get. The only thing is you only get 1 key fob right now, and the 2nd will be sent at a later date. Learned so much the past few months with your videos and site that I feel as not paying a mark up for a hybrid in this market was a good on top of getting 4 years of free scheduled maintenance. Thanks!!!

[alvarz]

Just wanted to say, your website is awesome. Its the site I recommend to my friends and family when theyre looking for a car. Informative and to the point as all things should be. Kudos to you guys.

[romanc.]

But why I'm going to produce more vehicles when I can produce less and make more$$.???!!!🤔🤔🤨🤨

[pinkisforpimps]

The car market collapses again but I still can't afford a car 🤦‍♂️🤦‍♂️🤦‍♂️ crazy.