K Bro. Educate me. Share your source of your original point.
Every poor person and their poor mothers were buying vehicles at crazy prices and in droves for the last two years. We saw 6-figure car selling prices in virtually every manufacturer with people dishing out ADM on Ford Expeditions. You think people who have money are the ones buying these trucks? I’ve been here long enough to know I’m one of only 4 people here buying in cash with a thread every other day about financing with no money down over 84+ months.
We are seeing more repos than ever before in the history of the automotive industry with wholesale prices in just the last 30 days tanking depending on your source between 10% - 20% that’s absolute insanity. You have the tech industry with avg annual incomes of $200M+ in dual household families completely dried up, $0 savings and the largest increase in household credit card debt recorded since 2011 per various Morgan Stanley and Charles Schwab investment bankers.
You think people buying this truck are like me? No. I just scored a new R allocation today because “surprise surprise” someone backed out of an order. This is what we are seeing, special orders being made by people who thought that they had income who no longer have any. Couple that with rate increases and a general pessimistic view of the economy in general and virtually the only buyers that may be remaining who can even afford this truck will be a me. But that’s not the case today, and it’s laughable.