After struggling with the explosive rise in car prices and a worldwide shortage of vehicles, car buyers will finally see some relief this fall. According to the insight of auto industry experts and data released by Cox Automotive, there’s now an excess of vehicles, and millions of units will require price cuts to get sold off lots in the final months of 2023. If you have been patiently waiting for prices to come down, we have the latest reports on which brands will face the largest drops, how to save on your next car purchase, and forecasts about the auto market crisis that everyone in America should know. But before moving on, please support us with a thumbs up on this video. A historic turning point is likely to lead us to the worst car market crash since at least 2008, says Mike Jackson, the executive chairman of AutoNation. Continued below the vid

“It’s getting harder to sell cars, and that signals the auto industry is about to enter a period of decline,” he noted. With each passing week, there’s more evidence that prices across the board are falling. In the used car market, industry experts say the wholesale prices car dealers pay for vehicles, dropped dramatically last month. It was one of the largest drops in history. The numbers were released by the Manheim Used Vehicle Value Index, a product of Kelley Blue Book’s parent company Cox Automotive. The index tells us dealers are now paying 11.1% less for used cars. That was the biggest month-over-month decline since March 2008 and the second-largest in all U.S. history. When wholesale prices fall, retail prices fall – typically about six to eight weeks later.

Given that supply chain issues are easing, bringing more inventory to dealership lots, while demand is stabilizing due to rising rates, by the end of 2023, wholesale used car prices could crash by 31.2%, JPMorgan analysts predict. It’s important to note that price drops will come to each market segment to different degrees. While some models are going to halve in value or worse, more in-demand vehicles will see more modest price declines. For example, in July wholesale prices for sports cars dipped by 2.6%, while pickup trucks went down by 6.5%, and compact sedans plunged by 15%.

Freedom of movement is fundamental to American liberty But the climate cult & rampant inflation are making it impossible for everyday Americans to own a car It’s time to end the crony regulations, taxpayer handouts & reckless spending driving up prices – Chip Roy

Cox Automotive recently put out a list of what brands are in major overstock right now, meaning that they’ll soon have to cut prices to adapt to the current market and move inventory off of dealerships. The firm reported that Ram, Dodge, and Chrysler have double the ideal supply of vehicles. Lincoln, Buick, Infiniti, and Jeep are almost double what would be considered to be an ideal supply while Ford, MINI, Audi, and Genesis are also significantly oversupplied. Moreover, other models reporting major corrections are pickup trucks, minivans, convertibles, and coupes, which were all trading at below the average as of August 21. Navigating the next downturn will require a very different playbook from the ones that worked in the past. Without strategic processes to secure their future, many companies may be flooded by debt but still forced to cut prices to boost sales over the next few quarters. This time around, the car industry must do more than simply survive the downmarket. It also needs to survive what happens after the downmarket ends. The outlook remains cloudy, and what can be a positive development for car buyers in the short-term can also precipitate a disastrous crisis for manufacturers and dealers.