I anticipate our dealers will be very busy with Memorial weekend AND the end of the month falling the following day. There is a lot of pent-up demand out in the market right now and people are shopping hard.
Inventory is short in supply, there is no denying that. However, there are alternatives. Out of necessity, our dealers have gotten really good at pre-selling vehicles that are already built, but not to the dealership yet. Worst case, order a vehicle. Sold orders take priority over dealer stock vehicles. Some automakers will lock in the current incentives if you order, and others, like Ford, are offering extra rebates if you special order. Special orders take precedence over unsold dealer stock orders.
The used market continues to be on fire. Vehicles are still bringing HUGE money, especially trucks and SUVs, but cars are way up, too. As I have said on the radio show, this is a bubble that can’t last forever. My expectation is that even with a continued shortage of new vehicles, used prices will come down some very soon. The market went way too high, and as always, will adjust. We’ve seen a slight drop in the last month.
Interest rates remain extremely low for now, and the incentives are actually still pretty good on certain vehicles.
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