Are car prices on the rise? Jeff Monosso explains

Episode Transcript

Speaker 1 (00:00):
Jeffman also joins us now our Fox correspondent over there
in shy Down and near the auto industry. Jeff, welcome in.
So the car industry, Now, what prices going up, deals
are going away? What's the what's the deal?

Speaker 2 (00:12):
I mean, yes and no, there's still a lot of
uncertainty for the most part, JT. Cup prices that have
held at about record levels since twenty twenty three, just
over forty nine thousand dollars on average, with tariffs on
things like aluminum not yet having much of an impact
on sticker prices. But automakers they're taking a measured approach

(00:33):
and recognizing that consumers are already financially stretched very thin,
and so they don't want to risk losing sales or
market share by gouging. But you know, we're told that,
you know, while well, automakers are are they're being cautious.
They are you know, looking at other profit centers to

(00:54):
raise that capital, to raise those profits, you know, talking
about steep increases and things like that, angencies, repairs and
and others. I mean, automakers and dealers could be also
limiting incentives in some cases and potentially regulating supply. We
sell veering COVID. But that's said. I mean, there are

(01:16):
some in the auto world who believes that the auto
market is finally starting to reverse, you know. Some some
use the word crash, some say reverse with with oversupplies
on dealer lots due to a lack of sales and
signaling the biggest decline in five years. Cars are sitting
for about an average of one hundred and twenty days

(01:37):
according to Edmunds, and so dealers have been offering you know,
financing as low as zero percent. Some of them have,
some of them have not. So you have to kind
of do your research and it might be a really
good time to buy if that's the case. Chevy, you
want a brand new truck zero percent financially for sixty months,
we haven't seen that forever.

Speaker 1 (02:00):
But you know, well, I mean because some of the
other side of this is that some of the industry
experts are saying that these you know, discounts are becoming
harder to find. So I guess depending on dealerships, manufacturers,
parts of the country you're in, I mean, what's determining
which ones are going?

Speaker 2 (02:20):
Well, yeah, well it's really determined by how much what
kind of supply do you got, do you have an oversupply?
Are people buying them? Are people kind of sitting on
their hands? Now, remember when the the tariff scare kicked in,
you had fourd GM and others doing employee pricing, many
many people bought, and so you know that's basically whoever,

(02:42):
whoever's really wanted a new car and they were able
to do it, They've already gotten it because the incentives
were there. And so now we're starting to see oversupplies.
But you know that the industry is not going to
it's not going to drop vehicle prices back to where
they were post code. It wouldn't be fair to people
who just recently purchased them well, and to drop the

(03:04):
value by ten fifty thousand dollars. So what many of
them are doing is just offering incentives or they're incentivizing
dealers to to you know, to make those cuts, and
then they're taking it on the chin. At the outle industry,
things are changing. Just really don't know, you know, it
could kind of go either way. But if you know

(03:24):
what we're seeing as an indication of the future, I
mean again, zero percent of financiing sixty months and a
brand new Silverado. Nissan offering sixty sixty zero percent for
sixty on many of its popular cars. Nice others Others
are not doing that. Others are are sticking firm to
you know, those high interest rates and prices, but perhaps
as a demand.

Speaker 1 (03:45):
Well, like you said, do your due diligence and then
you know, find the deals. And you might have to
travel and maybe out of state to go find the
right deal. But apparently if you look hard enough and
long enough, there's some deals to behind. Jeff Minasso, thanks
for the update, Buddy.

Speaker 2 (04:00):
Change it