Why so many used trucks.

I drive past a Nissan dealership and a Honda/Hyundai dealership almost every day. For the last few weeks I've noted both lots are FULL of late model used pick-up trucks. All parked on the front row.

Sunday, (while I wouldn't have to deal with a salesman) I did a drive-thru of each lot and counted 75 used trucks on the Honda lot. Mostly 1/2- and 3/4-ton Ford, Chevy, and Ram trucks but with a few Tacoma's.

They had a decent supply of new Honda and Hyundai cars and SUV's.

I counted 55 trucks on the Nissan lot. Of the 55, thirteen were new trucks. Eleven Frontier's and 2 Titan's. But the rest were used late model full size trucks. Their supply of new cars and SUV's seemed limited.

There are 2-3 used lots locally that only sell used trucks and SUV's and their lots are full as well.

Where are all of these used trucks coming from? Are there that many people trading in like new full size trucks for small cars? They certainly aren't trading them for new trucks since they seem to be in short supply.

And with that many used trucks on the market, why are prices still so high on them? What am I missing?

 

Because people don’t want or need a full size……

 

My guess would be a lot of people over-extended themselves with car purchases when COVID hit and they were saving a bunch of money by not leaving the house, not having to pay rent, getting stimulus payments, etc. Now inflation is up and their spending power is lower, so they're downsizing.

As far as the pricing still being the same...inflation maybe? All vehicle prices are up across the board, not just trucks.

 

Lots of used trucks on the lot due to the insane prices that dealers were offering owners for them.

Dealers were desperate for inventory and if your truck was an extra vehicle there was lots of profit you could make.

 

Gas prices

 

Times are hard. People can’t afford a $70,000 barge they only use as a family sedan that only gets 14 mpg.

 

What he said. I think Ford is going to regret getting rid of all the cars from their lineup.

 

I saw an article a few months back that a lot of those over priced new sales from last year got repo'd and there was going to be a flood of low mile year old used vehicles coming. I'd wager that's probably a realistic assumption

 

This is truck country. I hear lots of locals complaining that they can't get new trucks due to supply chain problems. The economy hasn't slowed much here in GA, gas is under $3 a gallon and the demand for trucks is pretty strong. There are a guys here making $20K/year driving older 10mpg trucks who wouldn't think of driving anything else.

I know a person or 3 in car sales and am going to ask around today. I'm thinking that many of these trucks have been brought in from out of state where the economy may be in worse shape to fill the gap where new trucks aren't available. No way there have been that many local trades. They don't have the car inventory to have traded for them. These same lots were basically empty a few months ago because they couldn't get anything to sell. But at this point I'm just guessing.

 

I predict the same thing with housing. Lot of repo's coming soon to a town near you. Just because you can buy something, doesn't mean you should. Stay tuned

 

The local Ford and Chevy dealer don't have that many vehicles on the lot and most of them are used....any brand you want.

 

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Like you said those 1 to 2 year old trucks have yet to be discounted.

 

Ford still has Maverick, Escape/Bronco Sport Ecosport, and Mustang which is available in Shelby GT 350 and 500 variants. Something for every car buying demographic.

Nissan has a new Altima, and maybe even a new Maxima. Been at least two years since I've seen a new fresh of the lot Maxima on the road.

 

Gas under $3 a gallon. WTF? $4 a gallon in VT.

 

I think 5.00 is the precedent for the national average. Maybe a few cents higher, but until that threshold hits 7.00. People are not going to adjust there habbits regarding gas. They probably won't adjust if the national average is $7 a gallon.

 

Right!? I was thinking the same thing when I read that. Yet another reason to leave the dark, cold northern wastelands

Interesting topic in this thread though. I noticed recently all the local dealers new and used are starting to fill up their lots again. Not as much as pre-covid levels, and not all trucks. But certainly way, way more than a year ago. Makes ya wonder where the inventory came from all of a sudden

 

Ram is running 2k off and 0% on Big Horn crew cabs. Ram dealers are also showing discounts on certain in stock 1500s.

Ford dealers are offering slight discounts on less desirable in stock 150s, but MSRP was already increased.

 

Look we all know the reason why. The economy sucks, inflation through the roof, housing market is going to do the same thing within a year. What you are seeing is just the very beginning. Next year is gonna be a lot worse.

 

$3.10 here in my part of Kentucky, go south, young man.

 

What does "yet to be discounted mean"? Not picking a fight, I just don't know.