What’s Going on With the Car Market?
So what is going on with the car market? It seems like there is a lot of drama and a lot of turmoil happening with the new automobile industry. First, we have Jalopnik saying that there are three million cars sitting on dealers’ lots, the highest it’s been in four years, and it’s getting worse. If you go back before four years, that was before the pandemic, and it seems like it’s getting worse than that. Some automakers are having a lot of trouble moving cars.

Local Car Dealership Situations
What does it look like in your neck of the woods? Are your dealerships backed up with cars? What about EVs? More than half of Teslas are being traded in for gas cars. To all the people that have bought Teslas over the last few years, they don’t want them.

Electric Vehicle Challenges
Now back to your reading. Electric vehicles—they want to go back to gasoline cars. This could create a lot of upheaval because a lot of the manufacturers started to retool their factories to build electric vehicles because the government said that’s all you’re going to be able to sell in the coming years. You’re going to have to sell 50% EVs within five years and maybe 100% within six or seven years.

Impact on Car Prices
Do you have a new car? How old is your car? Are you seeing cars backing up on dealers’ lots in your area? And if you are, are they starting to discount cars? Because if there are three million cars sitting there, they’re going to have to do something to get rid of them. Maybe they’re not starting yet, but at some point, they’re going to need to.