CAR MARKET LAYOFFS ARE HERE! THOUSANDS LOSING THEIR JOB!
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- Опубліковано 5 тра 2024
- CAR MARKET LAYOFFS ARE HERE! THOUSANDS LOSING THEIR JOB!
In this video I talk about the layoffs hitting the car market.
My name is Brandon and I am a used car dealer. I created Car Questions Answered to share the ins and outs of the used car market from my perspective. I share with you updates on car prices, what's happening at the dealer auctions, and what it's like being a dealer. My goal is to share information to help you make the best decisions while buying a car to save you money. I do not want car dealers taking advantage of you.
Thanks for watching and please feel free to leave any comments you may have in the section below!
And make sure you don't forget to LIKE, SHARE AND SUBSCRIBE FOR MORE!!
*None of this is meant to be construed as financial advice, it's for entertainment purposes only.
#UsedCarMarket #CarPrices #carmarket #usedcarprices - Авто та транспорт
$80K for a Grand Cherokee?!? They done lost their minds. 😵💫
A la verga foreal
It is called inflation of the dollar.
Yea you got me messed UP
@@flycatchful So why am I still getting paid the same as 2 years ago then? Ok sorry, I got a 50 dollar raise. yay. (sarcasm BTW)
Back in the 80’s you could get a fully loaded grand wagoner for 25G’s
I wish I could completely fail at my job and STILL make almost 30 million. What a BROKEN country we live in.
and they will probably blame us peasants for not being able to afford 75+ THOUSAND dollars for a truck as to why the truck market dried up. Time to play the worlds smallest violin for these people........
@@americanbadass88 Right, they don't care, because they Borrow Funds from the Public to Operate.. Yes, they Borrow from your Pocket to set their Salaries - 70 million for the CEO, they don't care if they sell cars or not, they already paid.. And you will have to "pay" twice for the same thing, for the Car that's already been paid off by Public.
Lets go brandon
I wish I could help you and split yhe profits 50 50
Who failed?
Stellantis had record revenues last year.
$20 billion (18.6 billion euro) net profit in 2023, an increase of 11% from 2022.
I’m not broke by any means. I just refuse to pay 70-90K for any vehicle
This!
To lose 50 to 60% of the value as soon as you put the lot.
They should lay off their CEO, that would save a ton of money
$30,000,000 is only 400 jobs. When a company of 20,000 people loses 10% of its work force, that equals 2,000 people. Let that sink in.
Or tell the CEO to accept only $60K a year or get fired...
Maybe it's because I'm a boomer, but $75K for a pickup is completely insane.
I’m a millennial. I drive a paid off 2016 Hyundai. And will drive this thing until the wheels fall off.
Amen
Im genx and 40k is crazy
Nah , when a pickup truck for the working man costs more than an audi r8...
The boomers that invested in the market in their 20s and 30s, retirement pension, collecting SS.. They are a big part of who’s buying and raising the prices while younger gen is hurting. Not that it was inevitable with whoever was born during that time but the boomers were the first ones who really started to come up in and build this hyper sized overinflated country. They are the ones buying all these expensive houses down here in Florida on the water or middle to upper middle class neighborhoods making it harder for the 75% to find affordable housing.
Any dealer that still slaps junk options like nitrogen on top of sticker deserves to go out of business.
I quit retail for this very reason the stupid add ons and hard closing techniques made me want to leave. I didn't benefit me just the dealer. It cost them more deals too.
The problem is with the buyer signing the paperwork, and 6 months later, they are crying and can not afford the payment.
Most dealers deserve to go under. Got way too greedy.
I don’t see the need for dealers anymore. Open a showroom in malls and order from a kiosk. Service is just as bad - these dealers in my experience don’t even know how to fix their own vehicles.
Many people are also holding on to their current vehicles because, one: they're paid for, two: the quality control was better and three: they are cheaper to fix/get fixed.
I absolutely 110% fully agree. Build quality is absolute garbage, much lighter weight, paint quality, way down ,and just wait til after the warranty period, there will be thousands of dollars in tech and electrical crap that is totally low grade to fix, that has to be done at a dealership,at very expensive hourly rates
Instead of dropping prices , they fire employees. Makes sense
What happens when nobody is left but the manager? I guess he/she will have to work six days a week to keep that line of credit running, LMAO. And yes, according to channels like this one, they legally do not own the inventory. It's on the lot as a line of credit and the brand will eventually send an accountant. They will go over the sales numbers and demand to know every single vehicle sold within each quarterly fiscal period. If they haven't met a specific number, there will be a lot of questions!
When the decision is between a new vehicle or a roof over one's family the decision becomes easy to make.
Ya the truck get great mileage
Potatoes over stylish junk
Now of days the car is the roof for many 😢
But the roof costs twice If not 3x as much a month
Now it’s eat or make a car payment
Dude, most people can barely afford a $7000 vehicle in this market, let alone a $70,000 vehicle. This is outrageous. The point of a good car company is to make cars affordable for people to buy so that people have transportation, not make luxury cars that only the elite can afford. Henry Ford made sure his cars were affordable so that the plant workers could buy them. I'm sure he'd have something awfully sharp to say to Ford nowadays if he were alive.
Our Govt dictates that Car companies make the cars that THEY want made not the cars WE want made. This Fascist Govt doesn't care how much a car costs YOU. They have all of the money they need. Real left-wing Fascism instead of the imaginary right-wing kind that doesn't exist in reality.
If they weren't selling for INSANITY the prices wouldn't be insane.
What you think a car company should be is not what a car company thinks it should be.
They care about profit. And if manufacturing high end cars only for the upper class makes them more profit than base level trim cars for the average folks, that's what they will do.
@@kadenen No. They will do both so long as there are people who will buy them at a profit. They make what's selling. Just that simple.
All the CEOs are out of touch they all should be replaced they haven't worked a day in their life in a very long time so they don't know how it is to be on the top of the totem pole where you can't even see the ground very well
I went to a toyota dealership to buy a light bulb for my 4 runners head lamp. One light bulb was $40! They had over 40 employees sitting on their behinds doing nothing! Car dealerships are a huge scam.
Went to get a full sized spare. 786 for just the rim in my Highlander.
@@jameskotel6387 sheesh. They are out of control!
I use to work for a rent a car company. I know for a fact that the dealership always charges 3x more than what they should. Even for aftermarket parts.
How much if u brought it a AutoZone
How do you really feel dawg 😂
This is 100% the fault of the greedy corporations and the greedy executives of those corporations.
In the 1960s, CEO pay was 20 times that of their average worker pay. Now they are making over 400 times that of their average worker pay.
Since the 1970s, CEO pay has increased by more than 1200%, meanwhile the typical worker pay has only increased by about 18%. Maybe they should consider drastically cutting their CEOs and upper managements pay and benefits and cutting the prices of their crappy products. Their business model isn't sustainable long-term. They are expecting all of their workers to work for scraps and buy their overpriced products while the executives drink their workers blood, sweat and tears while laughing at their struggles that they contribute to.
Yes.. Rationalized Greed.
100%! Perfectly said.
It’s the result of printing fiat currency
amazing how the first thing they do is layoff workers, rather than LOWERING the car price!!
I suspect that is to worry the government. I think they don't want a pricing war so Manufacturers aren't dropping prices . I suspect the public is expected to bail them out..
@@od1452I don’t think anyone is going to care about a price war over cars.
Yep. This is the cycle. As a business owner that is ALWAYS ahead of the trend it shocks me that these high education people repeat and repeat. In truth they don't care about the consequences - you get paid high level executive salary then move on when the company fails or you've been fired. These people stay pretty well above water....
All part of the plan.
People finally waking up to not spending stupid prices for the same crap. Make America great again, how about make America affordable again. House, groceries, cars, trucks, it's all gotten out of hand.
4 more years of biden will make it all better
Companies never miss an opportunity to exploit a crisis to raise prices.
100% Facts
FJB!
@@co6308 Fdonthecon
My husband works at a tire manufacturer. They've cut out ALL overtime. They can't sell tires. It's only a matter of time before layoffs start happening.
Damn. Because tires are pretty non negotiable. When you need em, you need em.
@@michaelj6392 to be fair, they have a lot of back stock... but they also make ties for new cars and those aren't selling either
That's the ripple effect of low car sales.
@joewoodchuck3824 oh, I know... they've had lulls in the past, but never like this.
Damn… even in the day & age of low profile tires on the majority of ALL vehicles with ANY options above base trim?!
Low profile’s are far more delicate than full sized tires that were commonplace not all that long ago. Said regular tires can absorb FAR more abuse than a low profile tire.
I watched 3 cars get repo'd this week alone. One Guy had a brand new Tundra and lost his job. Watched it get picked up last night
It’s sad but crazy! I know over here in Tennessee I see it everyday, repo guy lives down the street from me. His lot is always at 100% capacity for the last year or so.
@@nickduenez1295 I believe you. I have seen a few videos about repo lot owners and they are nervous because their lots are full and yet their workers are still being sent out on assignments. Brandon even visited one in a video and I still couldn't believe how massive the repo lot was. And a lot of these vehicles were nowhere near 8 years old!
The word that comes to me is GREED. I have no sympathy for the large car dealers at all. They burned us for years. Prices need to fall another 20% or more 83 million people cannot buy a car. That's insane. Someone needs to start making cars around $20,000 to $25,000 and they would kill it in the market!!
Greed just started the last three years?
$15,000
That would mean that they have to get rid of the bells and whistles and sell something like the Toyota Hilux. Which is sold all over the Third World.
But then you can hear the whining bltches complain that they don't have a button and a servo motor to wipe their__________fill in the blank.
The Madison Avenue geniuses or genii (if you prefer) have told people that their precious, delicate high maintenance personalities are a sign of machismo.
That's almost up there with telling people that addicting themselves to smoking is a sign of rugged individualism and self-determination. Now that was absolute genius.
Carmakers have become very greedy. None of them want to make affordable cars anymore because the profit margins are too thin. They only want to make huge expensive trucks and suvs
A Ford Maverick base model is around 25k and they sell right away . The big 3 will get bailed out again , they didn’t learn anything . They make huge overpriced shitboxes that mechanically total themselves right
Outside of warranty and people Keep buying them.
Anyone who pays 75k+ for a vehicle is a bloody fool and they deserve to live with those thousand dollar payments for every bit of the ten year contract they signed up for.
Exactly. We all want to blame P.T. Barnum....but we should reserve a little or a lot of blame for the endless stream of suckers.
75K? Add all the interest paid over that 10 years and you're over double that. That kind of money, invested well, can make a huge difference when you hit retirement.
@@hugh261 I'll pile some more on. What does a house cost in San Francisco? An insane amount of money.
But if you're retiring you can live in a town 100 miles away from a large city and have giant back yard. Houses there are a fraction of the booming city price.
That 150 grand will go a long way to the purchase of that retirement house.
Agreed 😂
Well if you’re buying an exotic sports car, I can see it. 🤔 But for a pickup truck? 😂
Also the insurance is crazy. I'm paying $299 a month for my 2018 5.3lt 4x4 Silverado. Perfectly clean driving history at 28. Same insurance company for 10 years.
My prices have gone way up as well.
It's time to shop around for insurance buddy.
It would be cool to see the financial breakdown of how much the dealerships are having to pay daily or monthly to keep these cars on their lots
All CEOs and upper management should be fired now. No golden parachutes either just unemployment line. That money should go to people who actually work for a living
Go do her job if it's that easy.
@@v-2010 you devouring their semen sample is not going to get you hired as CEO bum. Stop deepthroating the 1%
Take a look at the current car market? I would say yes we all know better than a whole team of international fucking morons. Guaranteed you got a Covid vaccine and probably still wear a mask because of international teams.
@@lot2196I’ll take it. Please forward me the contract with pay/benefits and time off. Also the company credit card, thank you.😊
@@v-2010 sounds like you a money grubbing ceo chump but i could be wrong since homeless have phones too
majority of Americans can't afford an emergency $1,000 payment, so obviously $80k for a truck is out of the question
But don't worry more helicopter money will come soon. The printing machine is running hot
Half of Americans or more than half live paycheck to paycheck. That is how the system is set up. To keep us in some serious debt.
@y.cschmidlin8172 there not printing money for you to use genius it for the politicians and Israel
Let me get this straight- CEO’s are put in place by blackrock. Stellantis is Peugeot
But when the unions strike a deal for a 40% pay rise
They’ll make enough to last a year then close the plant
Forever
The fiat hornet takes no kidding 424 days to sell. At $38k
So all we hear is affordability- but is not loan ability
And no one messes with unions before another fraud election
@@MoogleMoger And to inflate things for plebes so there is more state control. Tax, inflate, take.
How long can this continue??? It's insane, I literally haven't seen the car lots in my city this full since 2008 - 2009. That's not a good sign.
People broke, losing jobs...The market for 15 year old well-cared for Hondas and Toyotas is about to 'splode.
My Honda is a 2016 with 125K on the dash and “ They see me rolling, they hating” ☠️☠️☠️☠️🤣🤣🤣. I ain’t getting rid of it.
Everything is crazy. My house i paid $220k for 20 years ago is now $875k. That's insane. The thing is I can't buy another one of equal size and quality in my area for less than $1M. The world has gone mad. People can't take this any more.
Depression Incoming 🤪💯😩🤮🙈
Most homes that use to be $100,000-$150,000 range,3 bedroom 2 bath house 1200sq ft are now $190,000-$250,000 range,absolutely crazy!
Where do you live @@mccluremetalworks4214
You should move to southern Europe. It is cheap and the qualify of life is by far superior
I have the old receipts of the house my grampa built that I now live in after I remodeled everything myself. He paid 135k new in 1980. After some work and an addition it was valued at 1.7 million. Income has not gone up 12-15 fold since 1980. But house prices have.
I live in CA. Starbucks Nitro Cold Brew drink went from $5.45 to $6.55 overnight. Vote with your dollar. I’m done
Been making my own coffee since before people heard of Lindbergh.
And yet starbucks makes a gross profit of 25 billion dollars from march 2023 to march 2024. They are raising prices to maintain profit margins NOT profit. They can eat the cost of increased labor and still make a profit. This is done due to pure greed. The fact of the matter is wages should never have been stagnant for decades and businesses have made record profits for decades...it is high time they be forced to pay up...they do this because they can not because they have to.
Make your own Delonghi “magnfica” once u set the Preferences Grains pulls her shots perfectly every time when you could even stay milk with the wind my wife is a coffee snob and loves it
Anyone buying take out coffee is burning money. It isn't hard to setup to brew a thermos in the am and take it with you.
I’ve never been to Starnuts. I make the stuff at home for pennies. Cheap poopin’ Ammo.
They would rather fire their employees then drop prices of the vehicle makes no sense
The car market is (still) nuts. I have a 2016 BMW with 50k miles, and I'm hanging onto it because a freaking used Camry would cost more per month. As far as "passing on the costs to the customers," if the CEO makes 10s of millions and decides to lay off 10 percent of the workers rather than taking a 10 percent pay cut, then the problem is NOT the workers pay. The problem is the greedy executives.
How do you have a 8 year old vehicle with only 50,000 on it? My car is a '16 VW GTI and it's past 60,000 even thought I only drive it five days a week.
@@largol33t12 When I bought it (December 2021) it only had 23k miles.
The most expensive, top of the line, full size pickup with a diesel engine and 8’ bed should be $55k tops.
Mr. Powell says otherwise.
If it's not CPI then it's not his problem
And a Big Mac combo should be 6 bucks top......oh wait.
No way. No truck is worth over 40k. Actually less.
Say it again for those in the back of the class room 🤣. Might I say, 55k should be the otd, out the door price, because if you allow them, the marks ups, taxes etc will bring it back up to 60k+.
Hell no, at least $130,000 starting off, unjustified!
Jeep will never run out of work for its repair technician s😂
Buy a jeep. Put a mechanic's kid through college.
True
Been there! Done that! 😂
False 4 yrs 0 issues
Jeep dealership near me charges $270 per hour labor rate
The biggest problem in the EV market is charging centers.
We just got our first two chargers that I'm aware of in my city of 72k+ city. I've never heard of any at lodgings which makes overnight trips pretty much impossible.
For every job at the plant that is lost, 9 jobs are lost at the companies that supply the plant
Hopefully the white collars making decisions are also taking a hike too.
People forget about the ripple effect.
Especially the auto industry, because of the hundreds, or thousands of parts on each car.
$80k loan is $1550 a month for 60 months. $14k in interest alone. With Good credit.
no thanks i'll stick with my PAID OFF car i currently own. It might not be the coolest car or win any awards but i aint in debt over it either.
@@americanbadass88I hear ya. We felt that way until we were hit by someone running a red & totaled our car. Totally screwed going for a replacement in this market.
And these stupid dealers continue to add the additional rape add-ons. Idiots 😂
It is peanut. Right? But of course only if you are a millionnaire
In 2013 i paid 1374 a month for 83945$ at 3.9% for a new loaded z06 aint no fn way its that cheap try 1700-1850 now w the rates…you wanna get your moneys worth and spend 100k+ get a new s class i did and you get all your moneys worth
Keep your vehicles as long as you can
I have mine for more than 20 years, never had a new car in my life, still fighting with my existence, even the food is hard to pay.
Too bad I have a Kia soul, it’s 6 years old and unless it blows up or gets stolen I’m driving it.
That's why I buy my cars stripped. My VW has no auto ac, no GPS, no fancy 8 speed manu schmamumatic with flappy paddles (they don't even improve the performance, I've tried one). Hell, I don't even have an automatic. It's a 6 speed manual. Best antitheft device around and it costs nothing! Left my car unlocked because the battery died. Came back 2 hours later with a new one and it was still there.
You lost me when you showed us a hybrid Jeep with a 2.0 engine was $75 grand! HAHAHA
These car manufacturers better not ask for a bailout on tax payers dime. They did it to themselves.
I am 77 and have been a mechanic since I was 14. Never had a car payment . Still fixing stuff ! Life and pocketbook are healthy !
God bless you sir
Ahhh yeah!
I am also 77. I started at age 14. I went to US Army Tech school for Tank and wheel mechanics. I have restored many vehicles and now work on MGB's and Triumphs.I have no car payments like you. Life and pocketbook are really healthy. I guess we are from the old school. Keep working and "Don't let the old man in".
Same
Both my cars are 20yrs old. Matter of fact, never owned a car from the decade we're in at any time😂
That one line got me, Brandon. “Over a million dollars of Wagoneers sitting right here.” Unbelievable
bro people around me in Troy, Ohio are BUYING them. They're everywhere
And in the beginning there was Reganomics to give top 2% money takers all tax breaks! Study your history snowflake!
I remember when a brand new Tacoma 4x4 was 36k. Now used ones with 40-75k miles are going for 45k$.
Yeah but also remember when most people made 36k a year
Layoffs instead of dropping the prices is crazy
Her pay fell to $27.8 million? How will she survive?
give me one of those millions and ill be gone for good lol
We need to send her money !
I was thinking the same thing
Let her know: Clipping coupons from the weekly flyers helps.
She needs a “go fund me”.
Well greed is a curse, they were happy ripping off the customers.
It's not greed it's mostly central banks and the falling value of the dollar. What do you think happens when trillions of dollars are printed? Correct - it lowers the actual purchasing power of the dollar. We are heading into terrible inflation. Blame greed all you want, this is about the falling value of the US dollar. The sooner you see it and accept it the better off you are going to be.
@@anotheruser5654100%
@@anotheruser5654BS
A car payment today was what I used to pay in rent for a 2 bedroom apartment back in 2015.
That was only $700 a month in rent.
It is Bidenflation not greed.
Hallelujah!!!! God is good 🙌🏻🙌🏻🙌🏻🙌🏻🙌🏻jesus paid my debt ...was owning a loan of $ 47,000 to the bank for my son's brain surgery (David), Now I'm no longer in debt after I invested $ 8,000 and got my payout of m $ 270,500 every months,God bless Chloe Linda Henderson 🇺🇸🇺🇸🇺🇸..
Hello how do you make such monthly ?? I'm a born Christian and sometimes I feel so down 🤦 of myself because of low finance but I still believe in God.
Thanks to my co-worker (Alex) who suggested Ms Chloe Linda Henderson.
She's a licensed broker in the states 🇺🇸
After I raised up to 325k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸 also paid for my son's surgery (Oscar). Glory to God.shalom.
Wow that's nice She makes you that much!! please is there a way to reach her services, I work 3 jobs and trying to pay off my debts for a while now!! Please help me.
75K for a Grand Cherokee is beyond insane.
Railroad freight conductor here who works in a yard with mainly autoracks (car haulers). Huge drop off in total volume of cars in the past few months. Nobody is buying this shit.
Huge drop off in total volume cars? I am wondering why
@@y.cschmidlin8172 No idea, but we are currently storing empty racks.
Letting a car sit on a lot in the hot sun for 2 years is the worst thing you can do to a perfectly good car they should go for half the price before they permanently ruined and useless....greed is so wasteful and destructive.
It’s a waiting game but regardless of which way it goes, the consumer looses. So don’t consume!
Who cares if people are losing their jobs, and they can't buy cars or homes? We got no more mean Tweets! 🎊🎉
lol what do you think trumpo is going to do to help you with this situation?let me gues, tax cuts ryt?
@@TheMrgoodmanners Last time he was in office, he created an economic environment which grew my portfolio over $1 million over his term. The Dementia-stricken fool currently in office lost me $400k in his first two years.
I have the receipts. LOL.
Yeah I love how Tesla fan club channels like spinning these layoffs as a good thing 😂😂😂.... WHAT!?
CEO's that Make 30 million a year can not figure out that regular people need regular, inexpensive cars.
The president gets a half million a year to run the country, and they get 30 million to run a company ? Doesn't this seem a tad high to anyone ?
@@TheJohnbjuniorboth are too much. Trump donated his Pres salary at least. No so much for scarecrow Joe.
They know and they don't give a cra*.
@@TheJohnbjuniorthe president gets plenty of under the table money.
$50/hr union jobs, and free insurance are the reason. Not the money the CEO makes. I am astonished people still think "unions is gooder".
I watch these videos just to make me feel amazing that my car is paid off 😂
Yes indeed!
🤣🤣🤣💯💯💯💯💯
My 06 Rubicon is running GR8 💯👍😎
Oh yeah!
@@rickreese5794Nice! My 04 Rubi is running like a top!
I knew this was going to happen. They tried to get us to buy electric cars, and when we didn’t go for it, they decided to jack the prices and curtail the supply!
And the EV's are more expensive than a IC vehicle...
39.5 million salary. For one year! 760 Thousand dollars a week is Stelantis CEO’s salary, How can they justify that,
Its not the type of vehicles that is the problem. EVs, trucks, or otherwise. It's the fact that manufacturers demand insane profit on each unit. I have not seen any compelling data that supports vehicles costing 100% more to make versus 2018. Consumer grade trucks (LT, XLT, etc) used to start in the upper 30s and now start in the upper 60s. That's greed, pure and simple. That ugly dodge you pointed out would have been 18k pre-Covid.
💯
Profits from truck sales are being used to cover the losses on all the EV's.
@@hochhaul These companies are using EVs as the villain so no one questions their poor decisions. New product lines incur extra costs that take time to move into profit. That's just the nature of doing business. Were EVs the actual problem, we would have seen prices increasing crazily precovid as they were building out their lines before. GM with ELR, Bolt, Volt, etc. Nissan with Leaf, etc etc. Stelantis doesn't even have an EV offering and their prices still doubled during Covid. It's greed.
No, it's everything you said plus EVs completely and utterly suck. There's nothing about them that is better than a regular gas powered car. They don't even produce less pollution. They actually produce more
@robertjones6248 when did the ford lightning come out? The Hummer EV? The Jeep EV? Bolts were a fraction of the cost to make compared to heavy trucks. Ford was losing money on every Lightning they sold even before they began cutting prices.
I just got pushed out of a dealer that I worked at for 14 years.. Never saw it coming..We just had a billionaire buy the place a year ago and has screwed it up so much we have lost half of our business. They are cutting corners on materials they use on your cars! The guy they kept uses half the amount of paint on a job to save them money.They still charge your insurance full price but screw you over big time. The paint doesn't even match.. unreal!
No kidding. A friend of mine who works on auto body told me the same thing. You wouldn't call that quality. I've used to work for Napa during my college time. Holy mackerel!! A gallon of Marvel Red (one of the expensive colors) cost like $145. There was another order for 2 gallons of ocean blue. Cost you $300. Just to let you know these were the price of the "medium quality" paint. The expensive ones....We know where this is going. I mix these paints and chemicals in a specific way and by golly, I have get each and one them with correct measurement. If not, the store loses that money on wasted resources to do it again.
Desperate attempt to salvage a busienss that will go under soon. Pathetic move
@y.cschmidlin8172 it's really unfortunate. I have 2 little kids, and they could have cared less. This owner is buying up pro volleyball teams while they act like paying us is too hard to do. They kept a new guy who was losing them 40k a month and had to close the other shop they owned until they moved him to ours. This guy uses no sealer on e coat or bumpers, and they love the cash they save (up front). The company could care less it's a 130k escalade they just want it hacked out. I'm still in shock. Would anyone want their new vehicle that now cost a min of 55k hacked? A 150k vehicle hacked? They think the public is stupid. You have already signed for the payment, now beat it until you're ready for a new one, and then we will pay attention to you for that week. The auto industry is disgusting.
@yanglue611 I guess that's why they like the guy that uses so little paint it's transparent on your 100k Tahoe. Plus no sealer really helps with protection. Basically they tell you to get lost and no manufacturers will back the customer so you're stuck or pay like 4k out of your own pocket to fix it bc insurance has already paid it and won't do it again.
@y.cschmidlin8172 this is why unions are formed and business can't handle them. You need to be held accountable but not them.
I’ve been watching yours and other channels that discuss the automotive and housing markets I’m stunned by inflated MSRP’s, dealer markups and especially the ridiculous $20k to $150k dealerships’ prices gouging! Let alone the banks that lent to 150% LTV and the customers that bought them! Everyone involved are getting what they deserve for this silliness! The last vehicle my wife and I financed was her 2016 Grand Cherokee that we got used in 2017 for $25k @ 1.5apr and paid it off in 2020. I drive a 2008 Nissan Titan that I bought 5 years ago for $12k cash. I have never understood the high prices for new vehicles or how ridiculous buyers are for paying well over MSRP for anything! We will remain debt free by not buying what we don’t need, paying our credit cards off monthly and staying right in our home that is financed at 2.3% with 60% equity. I retired from my career in mid 2021 knowing that by staying debt free, the inflation rate hasn’t hurt my retirement income too badly. My score hovers around 820 and has for years.
Great post! Thanks for sharing! You’re a good dude! Hope all goes well for you.
I’m not broke. Know why? I don’t finance depreciating assets. AND I don’t pay retail or fake Market Value pricing.
I'm not broke. Know why? I pay off all my loans within 3 years, 1 at a time. I buy what I like & could care less what others think of MY purchase
Ron is smart. Be like Ron.
Ron's the man
Thanks for the support!
Ron you saved my life. Thank you mate.
Why buy a fossil fuel vehicle? when the government says they are doing away with them. Why buy an EV? we all know they are not the answer. So stick with that Vehicle in your driveway and take care of it. GOD Bless
This is the way. Unnecessary consumerism needs to end. Repair as much as possible
Amen
Fossil fuels are not going anywhere. Everyone is just laughing at the Democrats and anyone who listened to them… Car manufacturers get what they deserve for not focusing on QUALITY ICE vehicles.
Absolutely. My Toyota Taco needs to last another 15 years. 💯
Bidenomics is working! Communists love the middle class gets less and less!
I am 73 years old and have not purchased a new car in 25 years. I could pay $100k cash for a new car if I wanted to, but I do not. We have two serviceable cars that we will drive until they break. I am willing to pay thousands of dollars for repairs to avoid paying tens of thousands for a new car, not just because they are too expensive, but because they are generally ugly, poorly designed pieces of crap. If my 2008 Jeep (that I bought 10 years ago from my dad, a lifelong UAW member) is somehow totaled, I will not be looking for a newer car. I will be looking for manual transmission, crank windows, manual seats and door locks and, if diesel, pre-DEF. I know there are cranky old boomer mechanics out there who will repair and maintain such vehicles if they have to fabricate parts from scratch. If there are many more "consumers" out there like me, the auto industry is royally screwed.
Back in '93 I was shaking my head and saying "nope" to the $20K Ford trucks on a dealer lot. I kept thinking it won't be long before people just say," No, I refuse to pay this for a vehicle." 30 years later, they're still signing the bottom line to put themselves in debt and kill their chances to retire. Load a bunch of overpriced, unnecessary options on a vehicle and someone will buy it. (until the money stops) Maybe we're finally there?
Regardless of price, most of these vehicles are not engineered to last even to the manufacturer warranty. Very quickly will be money pit.
Exactly
I absolutely could not agree more, they are not designed and engineered to NOT to last much longer than the warranty period before the castrotrofic cost of so many issues that will be thousands to fix
I wish some company was still making the small 4 cylinder, manual transmission pickup trucks like Toyota, Nissan and Mazda used to make.
Absolutely!! We need cheap simple vehicles to right the western economy! Idiots are in charge of the west!!
If u own a 2009 or older car or truck hang on to it, parts for newer vehicles with all this high tec. Stuff will be impossible to get in next year or so.
They still make them in other countries. They don't in the US because EPA and CAFE regulations killed them.
I had a couple back in the 80’s and 90’s. Wish I never sold them. I’d buy a new little compact Toyota if they sold them here. $20k. All I need is a/c and power steering.
Got a 2007- 1.5 l Honda fit. Adjustable valve, timing chain simple motor. 5 speed manual. Stiff wide body. Corners very tight. 39 mpg hammer down. Yehaww!!! Haha
I don't blame the unions for wanting their peice of the pie at all. One too many times they watched the c-suit go to the shareholders and shout "we made shiploads of money!" only to turn around unions and shout "we're broke". Yeah, corporate is right that sales were only going to decline, but the reality is that they made their own bed at that point.
Wow this is outrageous. Thank you sir for this information, I had no idea this was going on with the car market.
Here in Ohio a factory that supports makes parts for Honda just laid off 60 percent of their employees…. There went 400 jobs .
Bet they glad they voted Democrat!
is it announced? I do not see it on the Ohio Dept. of Job and Family services site. What is the name of the company? Thanks.
When ? What company? In Sept 900 were temporary layed off ....Thanks
@@2true359party systems do not dictate the economy lunch like gas prices. Quit using Fox News as your sole news channel.
@@2true359Yep, because the Republicans would do worse!
Everything is going according to plan
Agenda.
@@billbuschgen520 I still remember agenda 2020 and 1990.
It's not hard to see the future they like to brag
Yes, for example 14k to 20k laid off from Tesla.
Brand new to your channel. I'm the "warranty guy" in Utah. I've been in the biz for 38 years. You're 100% on your evaluation. The EV biz is dead. AND I COULDN'T BE HAPPIER. If you ever get warranty or extended warranty questions I'm happy to provide my expertise.
What about the hybrid market? Or is the EV biz dead b/c of the charging station shortage issues? Meaning that the hybrid biz isn't affected by that, etc. Asking b/c I'm looking into buying a hybrid but super nervous about all this chaos in the car market. Thank you!!
@@juliett22 The ev biz is dead because they simply don't have the range. Not to mention that it takes hours to recharge...and sometimes you have to wait to get into a charging station. Its all due to these "green" assholes that don't have a clue as to what reality is.
I bought a house on 120 acres and paid less than a loaded new 4 wheel drive pick up.
Good move! Id love to do that.
Im curious, What year did you buy your land? What state are you in? Do you use your land productively?
The American dream is dead.
@@user-wc8lu7qd2m 2009
@@ThatGratefulGuy 2009 upper peninsula of Michigan
Can't believe selling 30000 dollar vehicles for 90000 wasn't a sustainable business.
Yes i am also puzzled
Inflation and rising interest rates should have been a wake up call to the automakers. No, they continue to make vehicles most people cannot afford now.
And the salt in the wounds are the dealer add on’s.
There's something going on here we don't know. Jeep could move everything they've got if they would cut the prices in half. Instead, they fire all their workers and give the CEO a pay increase? That means something is going on that we don't know about, that makes it all make sense....at least, for the uber-rich CEO...
The car market struggling is a GREAT thing. That shows it’s not providing anything beneficial to us normal folk. We aren’t going to be the ones buying these overpriced cars.
Ya, but we'll be on the hook when the bailouts start.
Just means Americans are finally broke is all, almost 80% now live paycheck to paycheck.
@@winduncan9818 Won't be a bailout this time. Fed already owns it. Next comes the currency devaluations.
@@winduncan9818 exactly!
Here in California DMV has reported that Tesla registrations have dropped by 46%
I remember "Cash for Clunkers" I bet they do something like that again. To save the major companies like in 2009-2012.
Good stuff man, when my kid goes to college in 6 years, we will come to you for sure from NY, to pick up his first car. :D.
Car dealerships are inflating the prices. Banks charges high interest rates. Insurance companies are raising their rates. Jobs can't keep raising wages. Why can the average citizen understand these are why products aren't selling but CEO's making tens of millions of dollars can't?? Companies are so out of touch with reality 🙄
ESG - make more money while selling less.
My car insurance hasn't went down ONE CENT in the past 4 years. and i have a squeaky clean record no accidents no tickets. something has GOT to give the crash is coming.
Actually interest rates are not high. Problem was the younger generation over past 15 or so years got used to and thinking money is free and loans should always be cheap and easy. Still cars and trucks beyond reality pricing and over next few years, lots of dealers will go belly up. Which is a good thing. The stock market and life market are ripe for a major correction. Housecleaning so to speak.
CASH IS KING over the next couple years. Hang on and watch. If loaded up with CASH, then be ready to buy much much cheaper. Sellers will be begging for CASH buyers.
@@americanbadass88 Gone down, not went down...just a little help there...feel free to edit
@@wa210 Nah. Inflation is taking care of your cash at 3-9% the last few years. Hyperinflation hits and cash is toilet paper.
In the last 7yrs I've had to buy 3 washing machine. The computer boards went out RIGHT after the warranty expired, I have to wonder if Ford makes all washing machines.
Pretty accurate prediction.going Just like they planned
My advice is to lower those vehicles to within an inch of the ground, then install chain steering wheels. You must know the future customer and their income sources and expenditures, and right now the illegal alien is winning because they are not burdened with housing, food and health care expenses and they receive generous amounts of public assistance, if you look around used shag carpeting can be had at a very fair price and can be repurposed as dash mats, that can really offer value to your new customer base. Replacing cup holders with taco and burrito multicolored rest is also an option. You know if you drive to one of the cartel sectors south of the border you will see many brand-new luxury trucks and rarely any used vehicles. They have no problems paying whatever the murphy sticker list and anything the finance officer talks them into.
My plan is to wait until the country goes semi/full mad max and then I'm still gonna wait for prices to go down.
love this, me too
THAT PART 😎😎😎
You know what’s funny? Back in the day, I used to look at people with brand new trucks and think “wow! That dude must have money! That truck looks really nice!” And then just be envious. Now, I see people with brand new trucks and think, “wow! That dude must have no brains! Guaranteed he got taken advantage of by the dealership finance officer! I bet he’s paying at least 10% interest on his loan!” And then just roll my eyes…….people don’t care about the “status symbols” these days. And the people that do, well they literally have no brains.
Facts
I agree wholeheartedly and disagree.
People do care about status symbols. Any one who's not stupid cares about owning your own fully detached house. Instead of a depreciating pile of sheet metal.
I'll bite.
When I drive my expensive, beautiful rides around.....and get tons of compliments....I say thanks.
I drove beaters my young life. I will never drive nor pay for anything that I do not want to be strutting like a peacock driving around. Or driving another around.
I can afford it.
I worked hard for it.
Driving my rides are pure joy. Reminds me when I am having a bad day just how good I have it.
I have expensive (you would say overpriced) cars that so good that are several years old that I would still rather have them than a new, cheap POS.
I have a very expensive truck that drives like a Benz. And has an interior to match.
I didn't pay 10% to finance....nowhere close. I pay my bills and have good credit.
So enjoy driving your beater.
I'll live life.
Have you seen the price of a Big Mac combo lately?
It's not greed. It's inflation. The real rate, not gov lies.
Yes, it’s a sign off stupidity and keeping up with the jones’s
@@doctordetroit4339 I'll bite...
It's not greed, as much as it is jealousy. Jealous they didn't make better choices. Jealous they had the wrong priorities. I'm poor and I know why, but my motorcycle is paid for and it brings me as much joy as anything else could. Hate the haters. Never apologize for your success. Good for you, man. Keep it up.
Great video my dude! Very informative.
It all started when idiots started paying over MSRP and dealers kept raising their prices because fools kept buying. So what does manufactures do? They told dealers to stop but they didn’t listen so they raised their prices to the dealers. Now everyone is screwed.
Maybe those corporate bosses that are tanking the companies should be getting laid off instead.
I respectfully disagree. They were soaking the suckers in a good economy with low interest rates. Now it's a new reality. Us oldsters have seen this before.
This is the result of greed, carmakers targeting the “up-market” demographic. Not sure where they thought all those up-market customers are in this age of inflation. The fact that they let the sit on the lot for 2 years tells you what you need to know. 🤦♀️ They only care about the stockholders and not customers.
The problem isn't so much targeting up-market but neglecting or actively abandoning the rest of the market.
It’s not people can’t afford those prices. It’s people don’t want to pay those stupid prices for vehicles.
Yup, boss was talking about this in today’s meeting
Looks like some middle management getting the boot
Im a owner operator trucker and haul steel coils for the Midwest car manufacturing industry. Been kinda slow lately but no loads today or tomorrow👀 I’ve prepped for a down turn but hoping for enough work to keep things running and insurance paid.
Oil field bro
@@JohnDoe-ih6mj I’ve heard you can make good money doing that. I’m linked in with this, it’s all local work and I have a specialized coil trailer can’t use it for anything but coils🤦♂️I’m in Ohio if this falls off I’ll probably haul grain for a while or grab a flatbed?
Very simple: Prices are too high. Rebates too low. Interest too high. Reliability too low. Dealer mark-ups too high. Dealer ethics too low.
You forgot that the fast food companies have a third option: Take lower profits.
reliability is whats killing me. i bought a new 2021 tacoma after months of research (it was like a second job with all the hours i invested). three weeks ago, less than 24k miles....the damn thing broke down and i had to haul it to the dealer. it was fixed under warranty but i'm beyond disappointed and just want to get rid of the stupid thing
@@absolutetuber It seems that there is a race to the bottom for reliability. I would feel confident with a Honda or Toyota before, but not as much now. That said, Jeep/Mopar/Stallantis still own the bottom rung of the ladder for reliability from my personal experience.
Underscore: Dealer ethics are too low!
@@absolutetubermight just be a one time fluke.. give it another chance
Everybody who wanted an electric vehicle got one, so that niche market is satisfied and sales are done. Also because of FJB nobody can afford a 85k truck anymore.
youre stoop
d
$80K for disposable shit boxes too. Amazing times we’re living in. Great policies of this “leadership”
No one has money for new vehicles anymore. Jeep and Ford are among those who are delusional at their pricing.
They all are, including Tesla.
Bring back the horse and buggy.
And Jeeps are money pits. I know cause I have one. Maybe the newer ones are better but from what I’ve read and heard they all suck.
Watch the government bail them out with YOUR taxpayer dollars. Remember: government has no money -- except that which it takes from its citizens.
Also when the factory workers have to stress about losing there jobs quality goes way down. Hard to do your job properly when you stressed all the time.
I work at both Ryder/GM plant in Spring Hill Tennessee and UPS terminal in Lavergne. Both places have seen a drop off in work. Home values and rent I believe are to blame. They take too much of our wages.
Another Great Vid!! Old retired guy here….,really hesitant about having to pay so much for replacement vehicle with scary technology , turbos etc….keeping my car longer these days…..I have to…..and hard to find mechanics, and when I do, it seems the work costs more and more……..also if I may add to the lot rot list, rotors, semi metallic pads and calipers……Keep up the great work speaking frankly……..even though though your “Check Tongue Light” comes on once in a while! lol
So, the CEO gets paid the equivalent of a full car lot while people lose their jobs. What's even worse is car companies are still focusing on high powered, luxury vehicles while purposely cutting out affordability.
No lack of culprits here, when dealerships have add-ons, as Brandon pointed out, which raises the price that people can't afford which lowers the amount of cars ordered, which causes layoffs at the factory (which historically is nothing new).
Its almost like this is 2008 all over again. NO ONE has learned a thing. just high on the hog till the money dries up. than they will fly into DC on their private jets with hat in hand begging for a bailout.
Stellantis CEO:
$20 billion (18.6 billion euro) net profit in 2023, an increase of 11% from 2022
He answers to STOCKHOLDERS, not uninformed customers.
My go to mechanic is loving these expensive new cars he's got so much work fixing 90s - 2000s cars
These car dealers were really talking shyt when inventory was low. They were adding thousands in dealer markup and getting it because there were no cars available. Anyone that bought a car in the last two years are way under water right now.
Well, it's good to hear that in these troubling times at least the CEO is ok! 👍
You wouldn't last a day as a CEO so stop. It's regulation and pushing of green tech by politicians heavily invested in Chinese rare earth mineral production amounst other green hustles. All the tech drives up prices and they have to produce so many electric vehicles they can't sell so they offset the loss on vehicles they can but Pelosi and family are making money hand over fist. The CEO isn't the one in charge the investors are and if they take a lose the CEO get fired. Stop with the jealousy.