Doug Demuro was on the smoking tire this week and they briefly talked about car prices. They were pretty much saying people still have it in their head that these are just 'inflation prices', but they both think this is what the price of cars is going to be now.
I only feel bad for people that don't already have a vehicle. The increased price on whatever you're buying is pretty much canceled out by the increased price on what you own.
The prices are up, people are paying those prices, and profits are better than ever. Why would they bring down prices?
From what I've seen in my industry the demand is far exceeding the supply and that's not entirely because the supply is lower than previous years. The supply may be down like 10% and there's a longer delay, but the demand is up so high I don't even know how to put a number on it. Everything is sold out 6-12 months out when normally we have about 50 units in stock. Even if supply was exactly the same as it was in 2018-2019 we'd still have no way to keep up with demand.
You see the same thing in other industries. It's impossible to buy a ps5 and after the same amount of the time they've sold more ps5's than ps4s. There weren't any problems getting a ps4 a year after release, but it's impossible to get a ps5 or xsx because the demand is that crazy. Graphic card shipments increased by 25% this year and even with that additional supply they're still impossible to get.
The only solution I can see right now is people need to stop buying shit as often as they do. Do you really need a brand new car every 2-3 years? Do things like phones and graphics cards really need to be replaced every year?
Also, I just want to remind everybody how much of a scam the last big factory (foxconn) that was supposed to be built in america and how it failed. I'm not sure why people were excited about another chinese factory that would just under pay and abuse workers rights in the first place, but it doesn't matter anymore. You can't expect the type of presidents that we've been voting in to get something done or do what's right. It's not just the presidents, but the people around them. They're all going to protect their own way of life, and their way of life is doing pretty damn good right now. If there's anything in the last few years I've seen is that nobody you vote for is going to improve your life.