‘Not a real thing anymore,’ warns car salesman over phrase that when you hear it means go to another dealership
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A CAR dealership owner has explained how he believes dealerships are nickel and diming new car buyers.
In a YouTube video, the business owner suggested drivers can save thousands of dollars by walking off the lot if they see a specific markup.
“Market adjustments are no more. If you’re a buy, stop paying market adjustments – it’s not a real thing anymore.”
Instead, he told buyers to find dealerships incentivized to quickly get cars off their lots.
“There are dealers that are selling cars at MSRP (manufacturer suggested retail price) or even below MSRP,” he claimed.
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“Go somewhere else.”
Car prices skyrocketed in 2020 and 2021, Craig said.
The number of vehicles on the market plummeted while supply and worker shortages swept across car manufacturers’ factories.
Meanwhile, an influx of cash from government-supported stimulus checks and a rapid shift to blue-collar remote working sent added consumer price competitiveness.
The two issues combined, resulting in dealership-based market adjustments to maintain profitability.
An average new car’s price jumped from nearly $40,000 in 2019 to $49,500 in 2022, according to Kelly Blue Book.
However, prices have begun to turn.
“After a tumultuous last few years in the automotive marketplace, now we are seeing new-vehicle pricing trends hold steady,” Rebecca Rydzewski, the Cox Automotive research manager, told the publication.
The average price of a car jumped just $42 from 2022 to 2023.
But the cooling price figures are not all rosy for dealerships, Rydzewski said.
It could, however, save new car buyers money.
“Dealers and automakers are feeling price pressure, and with high auto loan rates and growing inventory levels, new-vehicle prices seem to have hit a ceiling, at least for now,” she added.
One specific car segment has dropped prices precipitously.
Electric vehicle (EV) prices dropped by almost 20%, the publication found.
In the past several months, EVs, marred by negative headlines with cold weather and dependability, have seen sales slumps.
However, studies found that manufacturers are making the nascent tech more dependable and efficient.
Also, reporting from Inside EV found that most of the headline-grabbing cold chargers were from ride-share drivers – not the more ubiquitous residential-based driver.
The average EV driver paid $65,000 for a new car in 2022.
Prices dropped to $53,376 in August 2023.
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