Young buyers are getting priced out of buying new cars: New car purchases made by 18 to 34-year-olds are at the lowest point ever on record. Just 9.3% of total new car sales. (!) To make things even more interesting... The 65+ crowd just posted its highest share on record of new vehicle purchases – 25.6%. Bottom line: The cars young people want are too expensive. If car manufacturers want to serve the next generation of buyers, they’re going to have to introduce affordable cars that are *actually* desirable. After all, no one wants to record a TikTok in the back of a Saturn Ion… - Read the full report from S&P Global here: cdn.ihsmarkit.com/www/pdf/02… (Data via CDG Partner: S&P Global #S&PPartner)

Falling car prices have (yet again) led to weird behavior in the car world: 1) Smart dealers are taking the medicine and accepting lowering prices. More importantly, they’re laser-focused on inventory management and maintaining a quick turn-time. 2) Foolish dealers are playing wait-and-see. They’re waiting for a miracle that won’t arrive. 3) Dumb dealers are removing online prices completely. Be a smart dealer.

My prediction: Dealership employee turnover will rise to the highest level in 4 years over the next 90 days. Why? Because dealership margins are compressing. And lots of employee pay plans are being changed. I'm receiving more DMs from employees than ever before.

If true, this is a big scoop. Kia Canada withholding inventory from reaching its Canadian dealers to ‘game’ 2023 sales numbers.

Beats a Porsche 911 while towing a 911