Have you been to a car dealership lately? If so, you’re part of a waning number of Americans visiting them, with car sales sinking to levels not seen since the beginning of the Great Recession. This comes after explosive growth, almost like things go in cycles. The result is car dealers are still trying to unload some 2018 models.
Things are so bad, SUVs and trucks are even sitting on dealer lots for long stretches. Automakers and dealers come up with more incentives to lure shoppers in, but they’re not spiking sales like before. As a result, dealers are ordering fewer vehicles, but some experts fear automakers aren’t slowing production enough. That’s bad, because slow car sales can trigger layoffs, and since America doesn’t make many things any more, those workers will struggle to find employment.
Even worldwide car sales are down 6.5 percent for Q1 of 2019, and a whopping 7 percent for Q2.
While experts in the auto industry debate the cause of this downswing, most people realize part of the problem is that new cars have become far too expensive. Automakers have been obsessed with leveling up tech in new models, but many shoppers don’t care about those cutting-edge features, especially if dumping them would lead to lower prices. It’s a wild concept, but maybe, just maybe automakers will start thinking outside their tiny boxes now that they’re getting pinched.