IT'S DONE! Why Aren't These Cars Selling!?
The car market is crashing quietly. People are giving up on buying new cars every 3-5 years like they used to. Now, people are having to choose between making their car payment or mortgage/rent payment. With the cost of auto insurance over doubling since 2023, and the average cost of a new vehicle bing $50,000... People cannot justify paying $770 or more every month for a depreciating asset. Auto manufacturers and car dealers got greedy throughout the pandemic. Charging markups or addendums over MSRP on so many vehicles, dealers treated the consumer like another number... another brick in the wall. People are not fed up. Vehicle repossession rates continue to skyrocket within the US. Between 2023 and 2024, we saw an unprecedendent growth of 23%, from about 1.5M vehicles repo'd to 1.75M re
The car market is crashing quietly. People are giving up on buying new cars every 3-5 years like they used to. Now, people are having to choose between making their car payment or mortgage/rent payment. With the cost of auto insurance over doubling since 2023, and the average cost of a new vehicle bing $50,000... People cannot justify paying $770 or more every month for a depreciating asset. Auto manufacturers and car dealers got greedy throughout the pandemic. Charging markups or addendums over MSRP on so many vehicles, dealers treated the consumer like another number... another brick in the wall. People are not fed up. Vehicle repossession rates continue to skyrocket within the US. Between 2023 and 2024, we saw an unprecedendent growth of 23%, from about 1.5M vehicles repo'd to 1.75M re