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“We’re in a true car market crash”: Expert claims dealerships are desperate—her…
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U.S. Car Market Faces 'Crash' as Lots Overflow and Financing Rates Plummet
Washington D.C. – The U.S. car market is reportedly experiencing a significant downturn, with industry observers pointing to overflowing dealership lots and aggressive financing offers as key indicators. According to a recent social media report by 'Mr Gratitude,' a self-proclaimed industry insider, car lots nationwide are 'overflowing,' with vehicles remaining unsold for an average of over 120 days. This duration, he notes, has not been observed since before the COVID-19 pandemic. Adding to the signs of a market shift, manufacturers are now offering financing rates as low as 0-2%, a level not seen since pre-pandemic conditions. These incentives suggest a strong push to move inventory amidst slowing sales. Consumers are advised to leverage online car aggregate sites, such as Car Gurus or Car Edge, to ascertain how long specific vehicles have been on dealership lots. This information, the report suggests, can empower buyers to negotiate substantial discounts, with potential savings of up to 40% being cited. Comments from the public reflect a mixed sentiment, with some expressing skepticism about the extent of the 'crash' while others confirm difficulties in affording current prices. One commenter stated, 'I’ve heard this forever and I see no changes,' while another, claiming to work at an Acura dealership, corroborated the trend: 'Business has been down and instead of leadership acknowledging that people are broke, I have to sit through meetings of how bad we all suck it’s insane.' The situation indicates a growing disconnect between car pricing and consumer affordability, leading to increased inventory and pressure on dealerships.
The Daily Dot
"We're in a true car market crash": Expert claims dealerships are desperate—her…
"This message is for the ones that don't watch the news."
