We have been extensively documenting the growing auto industry glut that literally has ports so full that they are keeping ships at sea because they can't accept any more inventory.
But now, the auto industry looks as though it has a plan to move some of this inventory: massive discounts and incentives.
Texas auto dealer Hayden Elder, who had his worst month in 42 years in March, told Reuters: “I think that will open the door for a ton of orders for the factory.” He owns two Dodge, Jeep and Ram dealerships in a rural eastern region of Texas and has remained open.
Jeff Schuster, president of the Americas for consultancy LMC Automotive expects that the industry will rebound in the second half of the year, but predicts that 2020 sales will end the year up to 25% lower than 2019.
Schuster said: "Until we get plants up and running and the economy restarted, we’re in uncertain territory." Though if inventory is the problem du jour, we're not quite sure what cranking out more vehicles at this point is going to solve.
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
6 comments:
Do you think I can get a Lexus for under 30,000? 😂😂😂
Keep your trucks at any price. I don't trust you, and you've been gouging for years. They've limited alot of the options so to have an across the board price for new stuff. And it's all high. Add more years to the loan to get the payment down, paying more money for the money. Nah, I'm good.
In September they will all be $10 to $20 thousand off for Trucks.
Overpriced junk that rusts with on 7 years. Just about the time it needs a transmission rebuild. Keep it I'm good with the old vehicle I can work on myself
They RAPE people for a living, so Watch OUT !!! They will still get YOU !!!
Don't feel Sorry for them at all !!!!
You can trust your local car salesman....He's your friend!
Post a Comment