Overall, we are nearing predictions of when the car market may come down big.
Depends on the vehicle. Consumer Reports just posted SUVs selling below MSRP, from 10 percent off a Chevrolet Equinox to 6 percent off a GMC Acadia (Cadillac, Ford, Lincoln, and Mazda also on the list). Higher prices and interest rates, especially for subprime borrowers, have affected demand.Dealers are making record profits with these limited inventory lots. Most manufacturers still aren't able to provide enough vehicles for them to start piling up at lots because demand is actually still very high, even with the high prices/borrowing costs.
I kept waiting for the correction too, but it just never came. Eventually, maybe, but who knows at this point. People buying a car at msrp are like heroes at the moment. I feel like we're still pretty far from things getting any better than that.
If you raise MSRP and give a discount, then you're back at the "real" MSRP.I feel like right now the market is in this weird place where there's actual inventory and people aren't buying as much, dealers aren't selling as much, but there's been no price adjustments. Might see some lower prices here and there already, but I think we're right at the beginning of seeing prices coming down. Not that MSRP will come down, but discounts off MSRP should be coming back.
Yeah no kidding...If you raise MSRP and give a discount, then you're back at the "real" MSRP.