OT - Car Prices

[Cash68847]

I agree, lumber prices will never get back to $8 for a sheet of 7/16 OSB (as an example) Need that time machine to go buy up 100 bunks of OSB, store it in one of my garages, then sell it "at a discount" for $70 a sheet. Could make 4 to 5 grand on that markup per bunk alone.

Now, if we have a huge bubble that pops, interest rates soar, then we will see the supply/demand chain level out. But I doubt ever to prices what they were 18 months ago.

Interest rates have to go up to curb some of this inflation. I talked to a major house builder in central Nebraska. He said he will keep tearing it up the rest of the year. He thinks things slow down next year.

 

[LoudHogRider]

Not meaning to hijack the thread but this interests me. As we’re thinking about building in the future, next year potentially.

It's happening ...



You can track the daily futures market here (which also may be of interest to some of the ag guys ITT):

Futures

Stock screener for investors and traders, financial visualizations.

finviz.com

 

[hothouse_corn]

I was in Hastings and Grand Island last week. The Ford and GM dealers in both look like they've filed for bankruptcy. Literally, four vehicles total on the lot at the Chevy dealer in GI, and not many more in Hastings.

A question for those in the know: Why in the fuck are there so many used car dealers in Hastings? It blew my mind. I wasn't there to shop, so I don't know what the prices are, but they seem to still have a lot of inventory. Maybe not trucks, I didn't pay attention.

 

[alt f4]

I was in Hastings and Grand Island last week. The Ford and GM dealers in both look like they've filed for bankruptcy. Literally, four vehicles total on the lot at the Chevy dealer in GI, and not many more in Hastings.

A question for those in the know: Why in the fuck are there so many used car dealers in Hastings? It blew my mind. I wasn't there to shop, so I don't know what the prices are, but they seem to still have a lot of inventory. Maybe not trucks, I didn't pay attention.

You might be surprised how many vehicles are sold each month. I knew the DMV data at one time for the Hastings/GI/Kearney tri-cities area, but it's in the 1,000-2,000 per month. Lincoln has a couple dealers that sell 150-200+ new and used per month.

Just don't feel sorry for dealers. Every single one of the took hundred of thousands, and mid to large sized franchised dealers took multi-millions in PPP loans which were forgiven because of horrible April/May/June. However, the last half of 2020, they all had some of their best months/quarters ever. It's main issue on why we're in a new and used vehicle shortage. Manufacturers didn't think they would sell as many new vehicles as they did in late 2020, so they cut manufacturing and cut back ordering parts (chips).

 

[hothouse_corn]

You might be surprised how many vehicles are sold each month. I knew the DMV data at one time for the Hastings/GI/Kearney tri-cities area, but it's in the 1,000-2,000 per month. Lincoln has a couple dealers that sell 150-200+ new and used per month.

Just don't feel sorry for dealers. Every single one of the took hundred of thousands, and mid to large sized franchised dealers took multi-millions in PPP loans which were forgiven because of horrible April/May/June. However, the last half of 2020, they all had some of their best months/quarters ever. It's main issue on why we're in a new and used vehicle shortage. Manufacturers didn't think they would sell as many new vehicles as they did in late 2020, so they cut manufacturing and cut back ordering parts (chips).

Are you saying the tri-cities sell more vehicles than might be expected, or fewer vehicles?

It's interesting checking dealer inventory and how much it differs by manufacturer. For example, the Sioux Falls subaru dealer has 113 new cars on the lot, while the big three dealers are all bare bones except for models that don't sell anyway.