Well, that's not what's happening in America. Car companies are making expensive, option laden vehicles. And adding markups.
If a car company made a quality, low priced vehicle like the earlier Corolla/Civic, Accord/Camry, or Datsun PU/Toyota PU, I believe they would sell like crazy. But their margins would tumble. People keep buying because they got us by the short hairs.
Yet every car sells, eventually.
Sure, you can look at short time spans and claim the market is failing.
That's not accurate. The market adapts. It doesn't happen instantly.
When they had people lined up 3 deep to buy, they loaded up the cars with every option and charged as much as they could.
Money got expensive, not to mention stimulus money was finally exhausted, and car makers (and dealers) had expensive inventory.
To move the metal, prices will drop.
They are not going to take those cars and crush them as opposed to selling them for less.
Many Toyota Hybrid models are selling in route.
I'd like to test drive a Corolla Cross Hybrid and my dealer says I have to put down a deposit. They are selling every one they get. There are a few more cars on the lot of my local Toyota dealer, but not like it was pre pandemic.
Seems like nearly everything they build is getting sold in short order.
I don't keep track of too many other dealers. But, I don't see the lots overflowing at the Chevy and Ford dealers near me.
Maybe trucks at the RAM dealership or Jeeps. But the other metal seems to be moving.
New car and light truck sales for 2023 was up 12.4% from 2022 to 15.5 million vehicles. That's over 1 million vehicles per month.
If people didn't want what they were building at the price they were charging, they wouldn't be buying.
Now, they may not be building what you and I would buy. But, I'm not sure BITOG is a reflection of the overall market.