Consumer Reports : Overpriced vehicles are ...

[supton]

Well....there are some hot cars on that list. New car threads of any kind don't go too far on here because many here just want beaters for $5,000.00.

Kinda sad that it takes $5k now to get a "beater". Different subject though.

 

[CKN]

I was looking at a GR86. The dealer wanted $7,000 over sticker price. In a year they'll be lucky to get the MSRP.

I would agree that in the future we will see a softening of prices. However-everything I have read-and the dealer personnel I have talked to indicates this current situation will go well in to the second half of 2023.

I understand new vehicle inventory may be a regional thing-but in most major cities in the west there is zero to a few vehicles in dealer inventory.

 

[vavavroom]

I would agree that in the future we will see a softening of prices. However-everything I have read-and the dealer personnel I have talked to indicates this current situation will go well in to the second half of 2023.

I understand new vehicle inventory may be a regional thing-but in most major cities in the west there is zero to a few vehicles in dealer inventory.

The San Pedro and LA port logjams have begun to clear up. There are still some 50 cargo ships and car carriers or so waiting offshore. In case of the car carriers, it's partially because demand for vehicles has dropped.

 

[zzyzzx]

 

[zzyzzx]

 

[Skippy722]

Here’s a good site.

https://markups.org/

 

[KJH]

Is this report accurate? Kias & Hyundais aren't popular here in Houston. I see a lot of German, Japanese and American cars here but a few Korean cars. Even Land Rovers are a popular vehicles too.

Just my anecdotal observation, I see very few H/K when I am in big established metro areas or more established parts of my city. In NYC in particular it was extremely noticeable as the contrast between were I live and there was huge, nothing but Toyota, Euro, and premium domestic. In areas that are essentially cheaply built new suburbs with vast strip malls in between(were i currently live and also travel to many for work), I see a large amount of H/K, with the most common car being Chevy crossovers.

I think the main factor in H/K market demand is cost to fancy feature/styling ratio and that they may have easier/more appealing financing (and the warranty etc). For instance, my close friends brother just leased(i think) a sportage after the lease on his rav4 was up(he played that whole thing as poorly as possible btw, coudlve made thousands in profit or owned 50%+ equity in a high value car). He was then stuck looking at all of his desired vehicle options (rav4, escape) out of his price range at about 550/month. He finally found a deal on a Subaru he liked but the dealer jacked the price up at the last minute. He ended up with the sportage simply because it was 100 bucks cheaper a month than all his other comparable options. He is currently content with it, as "the screen and dashboard look cool".

 

[loneryder]

https://www.consumerreports.org/buying-a-car/worst-deals-on-new-cars-a3991316773/

Who knew Kias were so valuable.

 

[earthbound]

View attachment 114224

I'm just glad the dealer-installed options were included in the final asking price. if it wasn't I'd think they were trying to pull a fast one on the customer...

 

[Propflux01]

Of course I'm sure people have seen this already, but I am thinking this new "buying while in transport" is going to be the thing of the future. For them its profitable, guaranteed sale, not inventory so to speak, and if a sale does fall through, the mere sight of a new vehicle will lure buyers in from everywhere. A win-win for them. But this...

https://www.musclecarsandtrucks.com/corvette-z06-dealer-gets-roasted-on-social-media-for-90k-markup/

90k markup? Really?

 

[tbm5690]

View attachment 114224

Hey as long as you take them up on the lifetime washes and run it through the meatgrinder 2x daily for 15 years you about break even on the market adjustment!

 

[wemay]

If the market keeps buying, the sellers will keep selling. This only happens so long as there're takers.

 

[zzyzzx]

If the market keeps buying, the sellers will keep selling. This only happens so long as there're takers.

Fixed:
If the market keeps buying, the sellers will keep selling. This only happens so long as there is a sucker.

 

[GMFan]

Nothing wrong with the old “supply and demand” way of doing business. When prices crash and dealers lots are overflowing I’ll make sure to bring up “supply and demand” and get thousands off MSRP. Goes both ways!

 

[CKN]

Nothing wrong with the old “supply and demand” way of doing business. When prices crash and dealers lots are overflowing I’ll make sure to bring up “supply and demand” and get thousands off MSRP. Goes both ways!

Ford has stated they are basically going to a "build to order" process. I am pretty certain we will not be seeing tons of inventory on Ford Dealers lots even when things get somewhere near normal. A mid level Ford XLT is now $57,000.00. Don't count on $10,000 rebates anymore.

 

[PWMDMD]

Hmm…I just bought a 2022 Kia Soul for MSRP with zero effort.

 

[silversport]

walked the lots round me yesterday...at the Cadillac GMC Buick dealership I saw a new Yukon AT4 with $15K ($10K was a market adjustment) in uncharges and a pre driven Cadillac CT4 with $10K in uncharges...are people really paying this (they must be doing something to embolden these dealerships)

Bill

 

[4WD]

Nothing wrong with the old “supply and demand” way of doing business. When prices crash and dealers lots are overflowing I’ll make sure to bring up “supply and demand” and get thousands off MSRP. Goes both ways!

Yep - we just paid $3k above sticker for a new Tahoe - the rest of my life I paid $5k-$10k below sticker …
They had the low mileage units jacked up to where they did not make sense …
Happy wife - happy life …

 

[billt460]

Maybe it's on average over the entire US, not just what's happening in your particular area.

That's exactly it. Both new vehicles and real estate are engaging in wildly fluctuating markets right now. And both are susceptible to a great deal of instability price wise.

I wouldn't look to buy either right now, unless you come across an unusually good deal. And those are becoming few and far between. Especially with the absence of cheap money any longer.

 

[javacontour]

Maybe when new, but how many people do you see pining after used Kias and Hyundais. Very few. A good value when new perhaps, but once the shiny new finish wears off they are less desirable. They have improved dramatically over the past few years but IMO they are not on par with the other brands that I will not mention. Certainly nothing I'd be paying anything over MSRP for. I think they will do very well in the EV market however.

The only one I even get a tickle of desire for is the occasional Elantra Touring.
Then I read the reviews and how they were underpowered by the standards 10 years ago. Or given faint praise such as adequate, but noisy at higher RPMs, IIRC.

Everyone I see seems to be in good condition. I think older folks who care for cars bought them, so they are reasonably well maintained.