This Spells DISASTER For the Car Market! (CRASH of 2024)

The car market is in crisis! Negative equity is higher than ever, repo rates are skyrocketing, monthly payments on new cars are at an all-time high, and interest rates are climbing as fast as Mount Everest! This spells disaster for the automotive market. But how did we get here, and how will this play out? Is this finally the year buyers gain the upper hand?

Chapters:
00:00 - Intro
00:30 - Repo Rates
02:53 - Negative Equity Rates
04:10 - Dealerships
05:29 - Loan Rates
09:03 - EV Sales Dwindling
11:43 - Conclusion

In This Video:

Repo Rates: Repo rates for cars are soaring, with nearly 6% of borrowers at least 60 days late on payments.
Negative Equity: The share of new vehicle purchases involving trade-ins with negative equity reached 23.1% in Q1 2024.
Dealerships: The inventory at car dealerships has rebounded to pre-pandemic levels, impacting lot times and dealer markups.
Loan Rates: Interest rates have risen sharply due to inflation, making car loans more expensive.
Inflation: New car prices have increased by 32% since 2018, driven by inflation.
EV Sales Dwindling: EV sales are dropping, with high depreciation rates and other challenges causing issues.
Wholesale: A surge in repossessed cars and wholesale purchases by dealers is set to impact the market.

Join us as we break down these issues and explore the future of the car market. Will it crash, or is there hope for a recovery?

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