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[url]https://fortune.com/2021/09/17/chip-makers-carmakers-time-get-out-semiconductor-stone-age/[/url]
Chip makers are telling auto manufactures to adapt to chips being produced right now (which they have plenty of chips), but they don't want to change.
I don't think any time soon. Kind of a great time to unload anything you currently have, but a bad time to get into anything new (to you).
My Lexus GS300 and E36 M3 were both flooded and totaled from Hurricane Ida.
GS300 I got $6000 from insurance, I paid $1500 for it almost a year ago lmao.
E36 M3 I got $20k. I fully planned on buying it back from insurance to turn it into a dedicated track car but the buyback price was $18k lmfao.
The car market especially is crazy whether it's new, used, or hell even salvage. It'll be a while.
Probably sooner than you think.
September’s jobs creation comes up short with gain of just 194,000
Nonfarm payrolls increased by 194,000 in September, compared with the Dow Jones estimate for 500,000.
[url]https://www.cnbc.com/2021/10/08/september-jobs-report.html[/url]
LOL...
Looking for a new vehicle? Don’t expect many, if any, year-end or holiday deals
Lingering impacts of a semiconductor chip shortage has depleted dealer inventory lots to historic lows, leading to higher prices and few deals.
[b]J.D. Power reports about 89% new vehicles bought by customers are selling near or above the sticker price. That compares to 12% in December 2019.[/b]
Dealer lots and deals both reached record lows this year due to the parts shortage and there’s still really no end in sight in 2022, according to industry analysts.
[url]https://www.cnbc.com/2021/12/22/looking-for-a-new-vehicle-dont-expect-any-year-end-or-holiday-deals-.html[/url]
Everyone is balling...
Lamborghini customers are now waiting more than 12 months for a car, CEO says
The wait time for a new Lamborghini SUV or super-car is now over 12 months, as demand from wealthy car lovers shows little sign of slowing, the automaker’s chief executive told CNBC on Wednesday.
Despite volatile stock markets and growing economic uncertainty, demand for Lamborghini’s is “as high as ever,” said Stephan Winkelmann, Lamborghini’s CEO.
“It’s incredible,” Winkelmann said. “It’s difficult to make a forecast of what is going to happen and for the rest of the year 2022. But speaking to customers, speaking to all our leaders, we don’t see any any slowdown in terms of orders.”
The result is a [b]waiting list that is now [i]over 12 months[/i]. Prepandemic, the typical waiting list for Lamborghinis was [i]six to nine months[/i].[/b] Asked when or if the company’s waiting list will ever return to “normal,” Winkelmann said demand for high-end cars may have fundamentally reset to a higher level given the sheer amount of wealth created in the past two years.
“What we see is that around the world there are [b]more and more people able to buy a car like ours[/b],” he said. “After the pandemic, people wanted to reward themselves. And we have the markets which were flooded with money. I think we are in a very high plateau. I don’t know if this is the new normal.”
In addition, Lamborghinis have become a favorite for the young rich, who made their newly minted fortunes from crypto, stocks, tech companies and inheritances. Winkelmann said [b]70% of Lambo customers will be under 40 in 2025.[/b]
“We have definitely seen a shift toward a much younger customer,” he said.
[url]https://www.cnbc.com/2022/04/14/lamborghini-customers-waiting-more-than-12-months-for-a-car-ceo-says.html[/url]
[img]https://image.cnbcfm.com/api/v1/image/107046596-1649879540953-Winkelmann_Headshot.jpg?v=1649936445&w=740&h=416&ffmt=webp[/img]
Rolls Royce is gunning for the new crypto/stock fortunes too, I have zero doubt that a disproportionate amount of cash went to the top 10% during this and that it skews even harder as you approach the top 1%
I placed an order for a new Genesis and am being told it's a 5-8 month wait. Going from 9 months to 12 months for a lambo doesn't seem terrible tbh, I've waited 3 months just for custom furniture
[QUOTE=Destor;1659633023]Rolls Royce is gunning for the new crypto/stock fortunes too, I have zero doubt that a disproportionate amount of cash went to the top 10% during this and that it skews even harder as you approach the top 1%
I placed an order for a new Genesis and am being told it's a 5-8 month wait. Going from 9 months to 12 months for a lambo doesn't seem terrible tbh, I've waited 3 months just for custom furniture[/QUOTE]
Imagine waiting 8 months to buy a Hyundai LMFAOOOOOOOOOOOOOOO
[QUOTE=GainzMcgee;1659635593]Imagine waiting 8 months to buy a Hyundai LMFAOOOOOOOOOOOOOOO[/QUOTE]
If only more people felt that way, then it wouldn’t be such a long wait
Salesmen are all responsive online until you tip your hand and offer to pay "sticker". Then they ghost on you.
[QUOTE=GainzMcgee;1659635593]Imagine waiting 8 months to buy a Hyundai LMFAOOOOOOOOOOOOOOO[/QUOTE]
Then paying 5-10k over sticker, LMFAO.
nothing will change drastically. the old status quo has been upset, the cards are on the table. Dealers were able to hold out longer than us and found we are willing to pay much more, there is an endless line of people waiting to overpay. myself included, imo if your not ceo 10k now's the time to get a vehicle that you like but will also will last a long time, because even if you overpaid its not soo bad if its good for 250k+miles, so pretty much buy a toyota or a 5.3 chevy
[QUOTE=Azzurri;1659683903]Then paying 5-10k over sticker, LMFAO.[/QUOTE]
The same goes for Kia srs.
[QUOTE=gluon;1659685183]nothing will change drastically. the old status quo has been upset, the cards are on the table. Dealers were able to hold out longer than us and found we are willing to pay much more, there is an endless line of people waiting to overpay. [B]myself included[/B], imo if your not ceo 10k now's the time to get a vehicle that you like but will also will last a long time, because even if you overpaid its not soo bad if its good for 250k+miles, so pretty much buy a toyota or a 5.3 chevy[/QUOTE]
lol @ impatient plebs .
[QUOTE=ymer;1659754143]lol @ impatient plebs .[/QUOTE]
yep, i have no patience for not having a reliable commuter.
[QUOTE=Azzurri;1659683903]Then paying 5-10k over sticker, LMFAO.[/QUOTE]
Nope I'll turn around and pay the stupid markup on a used Mercedes GLE or something if they try to pull that on a factory allocation
Markup makes sense for people who walk into a dealership and expect to buy something on the spot. I'm already willing to wait half a year and am in zero rush overall, they have no pull here
its already starting to change in the truck market, dealers are loaded with trade ins that they overpaid for, they are rotting on the lots sitting for 90+ days when a healthy lot only sits on inventory ~30 days. people are choosing to wait for a new truck than pay the same price for a similar used truck.
people are also buying out their leases instead of dealing with getting a new one for $8000 over msrp while only giving $5000 more than their residual. stealerships are then charging $995 for "paperwork" just for you to exercise your lease option.
[QUOTE=SipNPiz;1659795183]its already starting to change in the truck market, dealers are loaded with trade ins that they overpaid for, they are rotting on the lots sitting for 90+ days when a healthy lot only sits on inventory ~30 days. people are choosing to wait for a new truck than pay the same price for a similar used truck.
people are also buying out their leases instead of dealing with getting a new one for $8000 over msrp while only giving $5000 more than their residual. stealerships are then charging $995 for "paperwork" just for you to exercise your lease option.[/QUOTE]
I bought out my lease on my RAM 2019 Rebel for 26k
I does have 65k miles, but even with those miles they go for 40k+
[QUOTE=SipNPiz;1659795183]its already starting to change in the truck market, dealers are loaded with trade ins that they overpaid for, they are rotting on the lots sitting for 90+ days when a healthy lot only sits on inventory ~30 days. people are choosing to wait for a new truck than pay the same price for a similar used truck.
people are also buying out their leases instead of dealing with getting a new one for $8000 over msrp while only giving $5000 more than their residual. stealerships are then charging $995 for "paperwork" just for you to exercise your lease option.[/QUOTE]
Ill believe it when I see prices going down.
And can confirm used car lots are overflowing with overpriced crap that doesn't sell, this is a war of attrition and they will lose if the recession and inflation numbers keep scaring the plebs.
It's starting to stabilize in the used sports car and new/used truck market. Some Dodge/Ram dealers have so much truck and challenger back log they are offering $7k off MSRP again. Probably gonna trade my 2015 F-150 for a New Ram 1500 here in a couple weeks. Honestly the gas prices aren't going to burden me too much so hoping they stay high for a couple more months and tank the sports car (v8's and TTV6) market like the last recession. Gas saving cars are fuked though, even stuff like Civic SI's are fetching a premium because they are capable of over 30 MPG.
[QUOTE=Holyfenix;1659841653]It's starting to stabilize in the used sports car and new/used truck market. [B]Some Dodge/Ram dealers have so much truck and challenger back log they are offering $7k off MSRP again.[/B] Probably gonna trade my 2015 F-150 for a New Ram 1500 here in a couple weeks. Honestly the gas prices aren't going to burden me too much so hoping they stay high for a couple more months and tank the sports car (v8's and TTV6) market like the last recession. Gas saving cars are fuked though, even stuff like Civic SI's are fetching a premium because they are capable of over 30 MPG.[/QUOTE]
Do you mean oversupply?
Not to get too political, but if the GOP takes reigns of the house/senate, I wonder what will happen to gas prices...
[QUOTE=ymer;1659844633]Do you mean oversupply?[/QUOTE]
Yes. Just something I heard from the grape vine but a lot of Dodge/Ram vehicles shipped without ECU's or other required computers because of the chip shortage and sat on the lot for a while, then they all arrived at once and were installed leading to the current over supply. Either way, good time to snag a new truck if your in the market.
[QUOTE=Holyfenix;1659899263]Yes. Just something I heard from the grape vine but a lot of Dodge/Ram vehicles shipped without ECU's or other required computers because of the chip shortage and sat on the lot for a while, then they all arrived at once and were installed leading to the current over supply. Either way, good time to snag a new truck if your in the market.[/QUOTE]
Haven't seen a single dealer offering any discounts.
2024 at the earliest
Not sure where everyone is getting such wrong info ITT
I looked into a Ford Maverick hybrid and was told they're basically sold out until 2023, but that's probably because they're so affordable and good on gas
[QUOTE=Azzurri;1645597703]I don't think will see used prices drop to a normal level until at least early 2022 when the chip shortage starts to alleviate[/QUOTE]
2022 checking in. chit is still nuts.
brb sedan's w/100k miles still going for $10k or more
chit is stupid rn.
[QUOTE=Destor;1659795053]Nope I'll turn around and pay the stupid markup on a used Mercedes GLE or something if they try to pull that on a factory allocation
Markup makes sense for people who walk into a dealership and expect to buy something on the spot. I'm already willing to wait half a year and am in zero rush overall, they have no pull here[/QUOTE]
that's what I thought too but the dealership will still TRY to pull that on you because they know if you walk, they can sell it for even more than you would have to pay. for pre-order cars in this market the dealer WANTS you to walk so they have another premium model to sell at an inflated price. many people end up just caving because like you, they waited 6-12months for their car.
as long as they did NOT inform you of any additional charges/markups BEFORE your vehicle arrives at the dealership you can get out of paying any markup but you will have to stay strong and know who to talk to (i.e the GM of the dealership who cares more about client relations than a $5K markup, NOT the sales manager who makes more the more he charges you and doesn't care about any negative feedback you have).
[QUOTE=textgod;1659910143]that's what I thought too but the dealership will still TRY to pull that on you because they know if you walk, they can sell it for even more than you would have to pay. for pre-order cars in this market the dealer WANTS you to walk so they have another premium model to sell at an inflated price. many people end up just caving because like you, they waited 6-12months for their car.
as long as they did NOT inform you of any additional charges/markups BEFORE your vehicle arrives at the dealership you can get out of paying any markup but you will have to stay strong and know who to talk to (i.e the GM of the dealership who cares more about client relations than a $5K markup, NOT the sales manager who makes more the more he charges you and doesn't care about any negative feedback you have).[/QUOTE]
That's a seriously risky game in terms of brand reputation with factory pre-orders and allocations, Hyundai/Genesis have already been warning dealerships about that stuff. I've been checking forums and haven't seen anyone saying they're getting hit with markups after pre-order but anything is possible
Who knows what would happen to the car market in that time as well, could improve or could get even worse
[QUOTE=textgod;1659910143]that's what I thought too but the dealership will still TRY to pull that on you because they know if you walk, they can sell it for even more than you would have to pay. for pre-order cars in this market the dealer WANTS you to walk so they have another premium model to sell at an inflated price. many people end up just caving because like you, they waited 6-12months for their car.
as long as they did NOT inform you of any additional charges/markups BEFORE your vehicle arrives at the dealership you can get out of paying any markup but you will have to stay strong and know who to talk to (i.e the GM of the dealership who cares more about client relations than a $5K markup, NOT the sales manager who makes more the more he charges you and doesn't care about any negative feedback you have).[/QUOTE]
Already walked out of a Toyota that I ordered.
Tried to pull all the tricks on me, now that dealership is dead to me, and my opinion of Toyota is fuk them from now on.
Audi and BMW on the other hand know how public relations work, they will still bend backwards to take my money, so I will buy one of those.
[QUOTE=Destor;1659902883]I looked into a Ford Maverick hybrid and was told they're basically sold out until 2023, but that's probably because they're so affordable and good on gas[/QUOTE]
I swear I remember an article, they sold out the first years production in the first day of taking orders on all maverick. I read the yahoo comments and they were like "yea this is the cheapest new truck available so I ordered one" and gas mileage brought in more sales, not everyone wants a monster bro dozer 4wd, ford made a smart move designing this light duty truck.