Demand dropping / asking price dropping?

[1969Camaro]

I may sell my 22 premium AWD extended range with 3700 miles. First offer from Driveway was 43K. Second offer from Texas Auto was 50K. Probably will keep if I cant get at least 54.

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[8Urchvy]

So all it takes is patience. Various Ford dealers have been calling me about a declined Mach E and asking if I wish "to bid" on it since they expect it to go for "at least" $12K over MSRP...

I declined to participate in the auction.

May I ask...a 21 GTPE with a mere 2,800 miles on it... why?

The current asking price on this is now less than the 2023 Premium AWD ER I have coming, which will not arrive this year, hence also costing me the tax credit....

Something to think about.

My car only had 2,800 miles because I work from home and only drive to the gym and back...and maybe a car show here and there...lol. We have another car, so we also used that for Costco hauls.

I think the question for me is...what would have kept me from selling?

I would have kept the car if the 5 second range limiter would have been fixed. I just couldn't get past the fact that I paid $6K for the performance edition and didn't get any performance.

I also have an allocation for a Z06 that should come up late next year, so I want to be in a solid financial position to be ready to order that. And no, will not get the E-Ray! lol

 

[MisterSofa]

They may be listed at obscenely high prices but they are not flying off the lots. I traded a 2022 Taycan CT4 at the end of October. Original MSRP was $104500. Trade-in was $88K (down from a $92K offer the month before). Dealer offered the car for sale at $28K over the trade-in price. Seven plus weeks later the car is still for sale, now at $110K or only $5500 over original MSRP. The one year lead times to get an ordered Taycan, plus the fanatic loyalty of many Porsche owners willing to overlook the issues with the car is what keeps the prices high.

What and why did you trade it for. Were there any issues with it?

 

[LAZARU5]

What and why did you trade it for. Were there any issues with it?

The Taycan CT4 was the best handling car I have ever owned. Twisty back roads would always put a smile on my face. But, software issues tarnished the driving experience. The 800v architecture allowed the car to charge very fast. However, connectivity issues with EA DC chargers made taking a trip very stressful, frequently requiring long hold times on the phone to EA support. I got tired of my wife asking how much we paid for the car every time it would do something stupid, like display GPS stuff in German, blank out screens, roll down the window (by itself). Updates required a dealer visit. One big one took two dealer visits and five days. Serviceability was not a design consideration. While I did not own the car long enough to have any non-warranty service performed, other forum members reported being quoted insanely high service prices. For example, a wheel alignment was $1700 since the front bumper had to be removed to do the alignment.

I traded the Taycan for an MB EQS SUV. The SUV does not handle nearly as well as the Taycan. Unlike the Taycan which can probably be driven safely at twice the posted speed, the MB could probably only handle 1.5 times the limit. But I no longer worry about being stranded in a Walmart parking lot hoping that the car can negotiate a charging session with EA. The MB does not charge at as fast a rate as the Taycan, but we spend less time charging since Plug and Charge works. With the Taycan it was more like Plug and Pray and frequently ended up as Plug and Pay.

 

[MisterSofa]

The Taycan CT4 was the best handling car I have ever owned. Twisty back roads would always put a smile on my face. But, software issues tarnished the driving experience. The 800v architecture allowed the car to charge very fast. However, connectivity issues with EA DC chargers made taking a trip very stressful, frequently requiring long hold times on the phone to EA support. I got tired of my wife asking how much we paid for the car every time it would do something stupid, like display GPS stuff in German, blank out screens, roll down the window (by itself). Updates required a dealer visit. One big one took two dealer visits and five days. Serviceability was not a design consideration. While I did not own the car long enough to have any non-warranty service performed, other forum members reported being quoted insanely high service prices. For example, a wheel alignment was $1700 since the front bumper had to be removed to do the alignment.

I traded the Taycan for an MB EQS SUV. The SUV does not handle nearly as well as the Taycan. Unlike the Taycan which can probably be driven safely at twice the posted speed, the MB could probably only handle 1.5 times the limit. But I no longer worry about being stranded in a Walmart parking lot hoping that the car can negotiate a charging session with EA. The MB does not charge at as fast a rate as the Taycan, but we spend less time charging since Plug and Charge works. With the Taycan it was more like Plug and Pray and frequently ended up as Plug and Pay.

Best of luck with your Benz

 

[RedStallion]

Used car prices are falling rapidly, adding pressure to the new car sales as well. I think it may create some unpleasant surprises in case the car is totaled and the insurance pays low market price while the driver is still saddled with large pay off on his loan.

 

[TheCats]

I'm expecting that we'll see high mark-ups for another six months so that dealers, both new and used, can 'harvest' some excess profit from people that haven't noticed there is no longer a supply crunch.

But unlike the recent past, it will be easy to get a deal.

The place to watch is private party sales. Dealers can let their inventory build while trying for the highest sale price. Individuals need to sell their vehicle and don't have extra consideration of keeping the whole market high.

 

[KadeBR]

My Dealer in North Dakota will take 4000 off msrp if you special order though double checking now they might have gone back to msrp.

 

[KadeBR]

My Dealer in North Dakota will take 4000 off msrp if you special order though double checking now they might have gone back to msrp.

Nevermind they still are.

 

[8Urchvy]

I'm expecting that we'll see high mark-ups for another six months so that dealers, both new and used, can 'harvest' some excess profit from people that haven't noticed there is no longer a supply crunch.

But unlike the recent past, it will be easy to get a deal.

The place to watch is private party sales. Dealers can let their inventory build while trying for the highest sale price. Individuals need to sell their vehicle and don't have extra consideration of keeping the whole market high.

I hope you are right but the trend is ahead of your timing.

my car is discounted Heavily and the below example too.

 

[MachEMaster]

There are a lot of used MMEs listed on Autotrader for above MSRP up here in Canada. These units are not selling. Dealerships here are not selling new units with ADM. I expect the Canadian government will announce a recession after all the retailers have got their Holiday scraps. Prices will come down, and stock will pile up.

 

[Phil Martin]

If car offers

There are a lot of used MMEs listed on Autotrader for above MSRP up here in Canada. These units are not selling. Dealerships here are not selling new units with ADM. I expect the Canadian government will announce a recession after all the retailers have got their Holiday scraps. Prices will come down, and stock will pile up.

Usually that's how it works, people list their vehicle or whatever trying not to take a loss but at an unrealistic price. The issue is if prices continue to drop, they're taking a larger loss as they hang onto it vs if they just went with a current market price.

The Fed will continue to slow the economy until unemployment shoots higher, end of story.

 

[MisterSofa]

I hope you are right but the trend is ahead of your timing.

my car is discounted Heavily and the below example too.

It’s down to $63,800. ?

 

[dbsb3233]

It'll be interesting to see where this all goes. The EV market is certainly weakening right now, but that's from a rather extreme peak where demand wildly exceeded supply. For the most part demand still exceeds supply, just not by as much now. ADMs will be fading, and MSRP's may end up above market value soon. But that's also the normal state for the auto market. In normal times, we'd see an MSRP of $40,000, maybe a $3000 manufacturer incentive, and then negotiate a deal for another $1000 off and end up paying $36,000. Market value is typically below MSRP in a normal market.

But I do expect EV demand to continue to outpace supply for years as they get further into the mainstream. Battery supply continues to be a bottleneck but that should ease in a few years with so many battery plants due to come online. They wouldn't be investing $billions in those plants without high confidence they have the raw materials locked in for them.

New battery tech is coming too that will improve that situation with less reliance on precious metals. LFP batteries are already starting to make their way into many models and trims (often the SR batteries as they're not as energy dense). Solid state batteries are getting close to production. The horizon has advancements like sodium-sulfer, and other formations that should use more common materials.

But there will continue to be bumps along the way. Should be interesting.

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