Rapidly rising interest rates have made monthly car payments more expensive for many buyers. At Adam Lee’s Jeep dealership, customers are seeing something they haven’t in years: lots of new cars.
But while supply is returning, higher interest rates are hitting demand and sparking concerns that 2023 could be another turbulent year for the car industry.
Photo Illustration: Adam Falk
0:00 Will 2023 be a boom or bust year for the car industry?
0:57 What rising car inventories could mean for the auto market
2:42 Why many vehicle prices aren’t exactly reasonable right now
4:25 What factors this year will affect car demand?
5:35 How 2023 could actually be a ‘sweet-spot’ year for the industry
#Car #SupplyChain #WSJ
It seems like price-cutting isn’t in the cards for manufactures, so keeping supply low to keep the price higher. Not sure how long that can last.
No one is buying due to mark up’s
I love that dealers are blaming the manufacturers like they’re not the main problem.
Prices would be lower if we didn’t have to buy through a dealer.
My local Tesla dealer was jam packed with Model 3’s and Y’s in every configuration since June 2022.
I did not see one person in these comments mentioning inflation. Our dollar is losing value ,fast
Dealerships are literally filled with people that love to take advantage of you. I tried working at one and figured out i wasnt cut out to sell a car that would put a grandma out on the street and sleep at night. I cant stand car salesmen now.
We went to dealers and said our budget is 20k for an used car and many of them said that’s not gonna get you a great car after all the taxes, fees and charges.
Perhaps Chrysler sells poor quality vehicles vs the better quality of Toyota?
They need to get real on prices. I mean a house is selling for what these vehicles are priced at. That’s the truth. I mean look at the median income of the area you’re in. No more than 30% of monthly income should be spent on rent or a house payment. Why on earth would someone use that same calculus on a depreciating asset??