My nephew buys HD work trucks for our company, new in stock is $10,000 over regardless of brand. He can order at MSRP.
I think this year its more than even that. Big downs on the stock market, gas through the roof. I notice the boys with the Toys as the end of last week trying to dump the toys at high asking prices. Some are in need of money all of sudden.There's a little more to that than just softening prices.
Typically February and March have lower value indexes in any given year, as dealerships start holding onto inventory for tax season. The vast majority of Manheim vehicles need a bunch of work and make it harder for dealers to make quick cash, so they run them through the auction.
Not to mention people cashing out on their homes. People are really feeling the stinging pinch of out of control inflation, higher prices for food, out of control gas prices, after just coming out from under the Covid mandates. Tough times.I think this year its more than even that. Big downs on the stock market, gas through the roof. I notice the boys with the Toys as the end of last week trying to dump the toys at high asking prices. Some are in need of money all of sudden.
We haven’t see the peak and or rock bottom depending on your outlook on life. It’s going to get worse (more so) before it’s better. I am basing my on current market spec of raw materials. For example, per ounce price of palladium (material making within catalytic converters) was around $2,589 an ounce beginning of March. As of March 10, rose to $3,084. Another key material in manufacturing (nickel) surged from $25,438 per ton (again beginning of month) to $48,211 start of March 10th. Thursday. Not sure what this means as an outlook but then London Metal Exchange put a stop trade of nickle because of the spec surge. Topple that with not hitting the ceiling concerning price per barrel of oil… we’re in for it now.