The Biggest Car Market Crash Of Our Lifetime | Prices Will Fall 45%
The Biggest Car Market Crash Of Our Lifetime | Prices Will Fall 45%
The car market has experienced a huge price bubble in the last three years, reaching record highs. However, new data shows that the bubble is about to pop, causing a massive drop in car prices. Some car models could see their prices fall by as much as 88%. The auto industry is facing a looming collapse, according to experts and analysts.
Find out how unexpected events, such as the global chip shortage, have affected the car market. The chip shortage forced car makers to cut down on production, leading to a scarcity of new vehicles. This made consumers look for used cars, which increased their prices due to low supply and high demand.
The chip shortage was worsened by geopolitical events, such as the Russian invasion of Ukraine, which had implications for the car industry.
To attract buyers, dealerships offered appealing long-term zero percent interest loans for up to 84 months, as well as generous buying and leasing deals. These measures were meant to tempt customers and maintain sales during the recession.
Despite lockdown measures, dealerships adapted by using innovative strategies to sell cars and survive.
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Quick question is the market going go down for used cars only or all.
A lot of people want to blame these prices on greedy car manufacturers and auto dealers. There is absolutely some truth in that, but inflation is the real culprit. Inflation is caused by government spending. The government has printed more than ten trillion dollars in the past three years, diluting the purchasing power of the dollar. That has resulted in increased costs for everything. On top of that, for reasons that make not logical sense, the government has waged war on the fossil fuel industry here in the U.S. and has increased their oil purchases from foreign countries(who do not have the same environmental regulations as we have here in the U.S.)…all while depleting our national oil reserves to almost zero. This has led to an unprecedented increase in fuel costs, making it more expensive to generate electricity, heat homes and hospitals, mine resources, grow food, and transport goods. All of these costs are crushing the consumer. In an effort to lower the cost of goods and force prices down, the government has increased interest rates to highs that rival the 1980’s. This has not yet resulted in the cost reductions that they hoped for, because we still have limited access to fuel, and government continues to spend and print money, outpacing the annual growth of the Gross Domestic Product. Until our government stops reckless spending and reduces regulations on the local oil industry with an emphasis on being energy independent again, we can expect to continue to suffer from a painfully inflated cost of goods and services.
What kind of dumbass paying this much for pickup truck 😂😂😂 idiots with money!
Every video I see of youtubers saying prices are going down I’m going to comment FALSE. They’re not going down and car youtubers know nothing about the economy. I predict in 2024 a 100k mile corolla will go for the same price as a house. I hate this. I’m so angry. I’m dealing with transmission issues, and I can’t even afford just a basic get around car. I might as well just take my loss and watch my car explode on the highway. I’m so disenchanted even with Toyota. I haven’t seen them focus on great quality since 2002.
Down to where they are supposed to be. They were artificially high.
Once start getting a production run fully operational can’t just shut that down. That would be for anything that is ICE Platform from cars to jet skis to private jet aircraft. In the alternative if buyer’s tastes shift as they have to battery electrics whether this be a car or a scooter the fact remains with everyone armed with a cell phone now the need to have transportation or even housing is greatly diminished to deminimus even as we now have Uber, Turo etc. Plus inflation absolutely wrecks the purchasing power of everything. By way of example who even needs a television anymore? Nobody even wants the content and even if they did they can’t access it.
EV’s will never be inexpensive. They WILL always be overpriced and limited mileage vehicles. It’s part of the lockdown agenda.
Tell dealership what you want to pay your the one with the money if not leave
Where are prices dropping? I don’t see a single price dropping near me.
With ele transport. Your always like a fire man at the pole with a quarter tank. Looking ahead not to be stuck ? And hoping your time-out’s won’t pass from daylight to darkness for readiness.. I’ll pass…If every auto everywhere we’re ele design? Their toxic bi-products? That effectiveness of planetary climate control amounts to 0.5% impact? The science simply doesn’t support the proposed solution. ? What we want to look at is global manufacturing processes and electric power grid reductions. That dwarf proposed ele transport solutions? Ele transport creates More carbon per unit to produce. Approx double at 12 ton of carbon compared to a combustion transport unit. The added weight wears out tires faster creating more carbon in all it’s attributes to the end user. And after years of ownership. The ele transport becomes like a hot potato you have to get rid of before the power source is condemned for safe opperation ? If an ele transport goes a foul. Your planted and stranded. Where with combustion source transport more often than not. You can still limp home and to servicing. How much of my living working energy do I want to put into transport ? So Zi can drive bumper to bumper to work to support the transport for more support work? Ha.Lol what good is intelligence of you don’t use it on yourself ? At the end of the day. Approx 65% of ele. power distribution globally. Utilizes fossil fuels?
Oh my God. Sky is falling. Hate the gloom and doom click bait.
It is Not a Crash! It is coming back to Reality! 50 to 100K vehicles were/are insane And sales have plummeted because of this insanity.
Clickbait bullshit
When tesla drops from 50 to 35 . First thing i think is how over price are they really?
Am just waiting for USD to crash to get myself a 5 year old range rover sport 😂
I can see this on EVs, because no one wants them, and those who want them can’t afford them.
I went to buy Toyota Sienna, they didn’t have inventory and couldn’t give me an estimate when its available. The wait times are over 2 years. So I would get a 2023 model at 2025
We will have to have a depression to reboot everything.
Yeah. exactly when will that happen? I am not buying a car in 2021, 2022, 2023 or 2024.
I won’t buy a car until a car is affordable again. I will walk. LITERALLY, before I buy an overpriced car.
This actually marks the longest period in which I’ve never bought a car.
On average I’ll buy a car every 7 years.
Now I have kept my car for 11 years. I have no plans to ever get rid of it. It’s not going to die anytime soon. Not at these god damn prices.
YES YES… CRASH! the dealership needs to LEARN NOT to over charge ever again!
I was with you until you started talking about a "decrease " especially in ev’s. Ford is and has NOT reduced prices for ANYTHING! Every other domestic manufacturer ev programs are non starters, so they don’t matter ev wise. I know of no one who can afford a new car or especially pickups. Cars and trucks continue to be way over priced by at least 50 to 100%. That is how much they have to drop, 50 to 100% before they become affordable again. About ev’s, it has become apparent that the country for many reasons is not able to support them even if they become "affordable". The push by western governments to adapt mass ev adoption is I’ll advised at best! As such I believe that the current administration in the US will be voted out of office for forcing ev adoption on the public. They are too problematic and nobody trusts them or wants them. I could keep going but you get the idea!
If the worlds Gov’s want everyone to have an exploding car then WHY don’t they GIVE everyone one, plus free insurance, no vehicle tax, 100% free charging points etc, so we can sit around them in winter when it’s cold and keep warm while they burn and pollute the air 🤣😂🤣
I dont think these car prices are dropping in Canada.. still expensive.
Good! the company’s are making way to much on their trucks and SUV’s. We can’t afford 70,000 and above trucks, so they will crash big time!
All this price dropping is well and good but banks are being very hesitant about car loans right now. Because people are still defaulting on their vehicles.
We need it to go down 20%
The EPA, and NHTSA are responsible for much of the inflated prices. We need a real consetvayive in office, to stop this nonsense.
Hahahahahahahhaahhahahahahaah great news! Go Brandon!
Bidenremorse
They have completely ripped off consumers since 2019
Wen lambo
Just another con , hope they all go under and the American people refuse to bail them out , bring in new companies that have some common sense
when
They’ll have to drop at least 45 percent before I buy another..I’ll keep my 3 I currently have already paid off..
This is nonsense. Sorry, people have been saying this for a year.
Lol… they are not down hardly at all… ummmm… these dealers are greedy as f….. this crash apparently only happens on these youtubers crap they are pumping out…. click bait!!!
I believe prices will come down more in 2024. I am waiting
I just don’t understand why companies aren’t focusing on hybrid. More reliable, more efficient, and practical.
it’s taking a while but they are starting to drop. dodge is selling rams for 15000 below msrp right now. being that it only brings the heavy duty’s that are work trucks down to 75000 it still way over priced
They will drop, but when?🤣
Everyday is housing, market or car crashing market and this is been going on for like 2 years
3 months later and I’ve seen ads with over 15k drop from msrp on a Mach E for example!
Been a month, where’s the price drop?
I’d love to get my hands on a Lexus IS/RC 500, but the prices are just to dam high!!! Right now, they are asking $67-68K for the IS 500 but if it was down around $58-60K, I could buy it (and would jump at the chance). It’s amazing what that extra $7-8K does to a car payment, and the added taxes really hit you hard. I also was looking for an older car (2009 Pontiac G8 GPX). The prices for those are over well $40K. Who the hell thinks that a 15-year-old car is worth $46K..LOL. They can keep them; I will not pay those prices. The longer these cars sit on a lot, the more money these places will lose. I’m going to go buy me Civic or Corola and save my cash. Wake me when these car joints come to their senses.
If they actually made vehicles people want, this wouldn’t be happening.
The car prices adjustment the same way real esteate prices drop after over inflated prices… 😮 its uncanny
45% is no where near enough of a price cut. Cars and small trucks are insanely overpriced, bloated, stuffed with expensive options that the dealers pre-install. I am in the market for a 4×4 pickup but realize there is nothing on the market I can afford to buy new. While new is what I want, I’m shopping used. And not even recent news, but ten years or older. That is mostly about price but it is also about not wanting all the junk that have been squeezed into vehicles in the last decade. I’m beginning to think that spending a buying old and fixing it up is the far superior route to take financially AND I end up with something I want. As in not something the new car dealer wanted me to buy after it was pre-packed with costly extras.
You all are focusing on manufacturing and dealers. The real problem is monetary and fiscal policies
Still waiting.
Why would a stimulus check of fake money boost anyone’s confidence? The prices spiked way up, so they have a lot of room to go back down. I tried to buy a 2016 Dodge Challenger in 2022 as a gift to someone else. The car was worth 15,000 dollars, was very clean so I offered the guy 21,000. He turned me down flat and wanted 33 for it. That’s 5,000 dollars more than the car cost new, and he got it from some sucker. For a 6 year old Dodge? Well, last week I saw a 2017 Dodge Charger on a dealer lot for 17,500 dollars. Another 6 year old Dodge. Figure a clean cash deal and you could get it for 15. Right where we started from. That means the guy who bought the Challenger for 33 is 16,000 dollars underwater on his car loan. IN ONE YEAR! That bank who lent him the money has to be sweating bullets. Both of them are getting exactly what they deserve.