The Car Market CRASH Of 2024 | Inventory SPIKES 225%

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CarEdge Podcast: Daily News You Can Use

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Today on the Daily News You Can Use, Ray and Zach discuss the latest data on new car inventory. Levels have increased 225% in the past two and a half years. Tune in to learn more!

[MrComerford]

I work for hertz and we are getting a lot of subarus, kia, nssan, Hyundai and big stuf gmc yukons and ford expeditions. Average price on the expedition and Yukon is over $75k.

[brb]

Toyota/ Lexus has low supply because quality sells fast.
I have owned other brands, but my 8 Toyotas (still have 5 of them) don’t let me down mechanically and they hold their value longer.

[veeedubmk]

My 2018 frontier just hit 100k miles and I think I’m going to keep it for another 5 years. Prices are completely disconnected from what people can afford and I refuse to over pay for a car

[ChrisGenXer]

Ray, you are so spot on about people continuing to purchase cars, and were very kind about how you put it. Honestly, consumers can’t get out of their own way because they continue going out there and buying the same overpriced cars they complain about, and it screws everyone. As long as consumers are willing to take on a $1, 000+ car payment and buy more car than they can actually afford, manufactures will continue increasing prices.

[brooksschneider]

The days when I would buy a car just because I wanted to are well behind me. When we stop trusting our primary vehicle (2017 Outback), we'll replace it. When our secondary vehicle (2001 Saturn) reaches end of life, we'll become a 1-car household. This from a car guy who used to have 6 cars. The thrill is gone. 😢

[jamesalec]

I ran a comparison between New Brunswick NJ and Sidney NY on a 2023 Jeep a year ago. The identical Jeeps were approximately $42, 000 at both locations. However, the average yearly income in New Brunswick was around $64, 000, but in Sidney NY, a rural small town, it was $35, 000.
That Jeep was about 70% of the yearly income in one location, but was almost 130% of the yearly income in the other. It's a big disparity between populated areas and rural areas, where the cost of the Jeeps are the same. Rural people are getting shafted and a greater percentage of their wealth is being taken away for everyday needed items.

[Dsanrides]

My base model 2014 F150 with no upgrades and a 3.7L V6, non eco boost, has 165, 000 miles on it and it runs perfect. I plan to run it past 300, 000 miles. Why in the world would I ever buy a brand new $60, 000 truck with all the new electric garbage and the unreliable eco boost engine, when my current truck would probably outlast the new one? Manufacturers need to keep offering super simple, no eco crap, bullet proof vehicles, instead of all these new fancy tinker toys.

[slipknotron]

100% chargers and challengers are advertised 25% off but the msrp is jacked all the way

[stephenpuccio]

Like he said the other day…STOP BUYING THEM

[mikescholz]

I drive past Fords Romeo engine plant every day, and for the last 10 years they have a had a section of parking lot not being used. Over a single weekend like 2 months ago a couple THOUSAND new trucks are now filling the lot parked just inches apart.

[ronlee]

Ray and Zack, you say that CarEdge does not play games but today's subject is nothing more than clickbait which is not a good look for you.

1) The Car Market CRASH Of 2024. Where is the "crash?" When MSRPs drop a minimum of 40% that is just getting to where the price should be. 50% or 60% drop and maybe that is a crash.

2) Inventory SPIKES 225%. Only compared to the COVID low. Big whoop. At least add a clarifying comment about it being compared to the pandemic era low and even then it is not a "spike." It is a gradual increase since the low. Compare it to 2019 or a 2017-2019 average to be honest and ethical in your reporting.

[Valentino]

I purchased a 2018 F150 STX 4 x4 new in 2018 for $45, 000. I just priced out a 2024 for 51, 390.00. $45, 000 x 12% inflation = $50, 400.00. So there's that! 1.7% interest.

[Justcory]

Of course it will increase by 200% since PANDEMIC lows.

[thejimmichanga]

My local dealer is trying to buy my car back off of me after 3 years since purchasing it. I got it right before the car market took a dump. I asked him why would I dump my car (that I'm $2800 in the green on) just to have to pay more to buy a similar car at a higher interest rate.

[brianscott]

There is 1 button to show price with no discounts or savings. 1 click to change the gas savings to get exact savings for your circumstances. How hard is this and how is this hurtful to see both options?

[justacinnamonbun]

I've been saying on this channel and others and I have chewed my wife's ear off, been telling everyone it's going to go back to the way it was. If manufacturing a single Tacoma or Civic so that 25 people can argue over it and start paying $7000 above asking just to be the "lucky one" to take it home, if that business model worked it would have been implemented 50 years ago. What happens is people start to "spill over" into other brands like Mitsubishi for example and Toyota and Honda start to lose market share because people are now looking for alternatives in a capitalist world. That's just how a free market works. Manufacturing 1 car for 25 people and then saying, oh, if you want one of your very own, place an order today and hopefully we'll have it in in 9 months that just doesn't work. It's going to go back the way it was.

[hoapres]

This clickbait with doom and gloom video is brought to you by car edge.

[codythurmond]

Auto loan applications have been dropping and inventory has been rising for awhile... yet pricing hasn't been moving. When is this supposed crash supposed to happen?

[neilbrown]

I hope they don't sell shit. The manufacturers have been burning their customers for years and especially during covid !! The prices have skyrocketed over the last 10 years on trucks and SUVs and the quality has been on a steady decline. And now with this push of electric or hybrid vehicles that the majority of people don't want, its leaving a bad taste in the consumers mouths!!

[dforrest]

It’s ridiculous how high the MSRPs are and how little dealers are still willing to discount. I appreciate that you use new information to adjust your views.