Higher Interest Rates, Heftier Prices And Lack Of Incentives Forcing Buyers Out Of The Market

On Sept. 21, David Ehrichman's 2016 Hyundai Genesis was totaled in a parking lot when a Land Rover passing by on the main road jumped the curb and smashed into his car. When he went back to the New York dealership where he'd leased the Genesis for $387 per month, he discovered it was now asking $565 a month for the new model, called the Genesis G80.

"I said to them, 'You've got to be kidding me; what's going on?' " Ehrichman said. "And they said, 'Well, the cars went up in price. We're not giving them away anymore.' "

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PUGPROUD - 10/22/2018 10:28:40 AM

+2 Boost

Yup!

OneOfOne - 10/22/2018 11:12:30 AM

+3 Boost

so if you cant afford a particular model then you just cant. its basic market facts.

wilfred - 10/22/2018 1:24:36 PM

+2 Boost

Just because it was on sale last time doesn’t mean it will be again next time around. There is always a good lease deal somewhere as long as you are flexible on the kind of car and brand.

Agent009 - 10/22/2018 2:57:29 PM

+1 Boost

The consumer has been conditioned to get a premium vehicle at mass market prices for a long time now. Now reality has set in.

TomM - 10/22/2018 3:27:01 PM

+1 Boost

WE are in a record setting Economic Expansion - 10 years and counting - and yet the real wages of the average wage earner have actually gone DOWN - while the top 1% have seen their tax rates tumble. THe rich are getting richer and the Middle class is becoming poor. Eventually - we will have a recession - and the average guy - who already cannot actually buy a new car - will not be able to lease one as well - the days when car sales ruled the economy will end - and cars will have to come down in price to survive.

It has happened several times in my lifetime - and it will happen again.

TheSteve - 10/22/2018 3:16:08 PM

0 Boost

Oh don't worry! Reagonomics will soon kick in, and make millionaires out of all of you. And this last round of Trumpian "tax reform" will surely have you all driving Mercedes. Chill, folks. Just be patient. What you see and read is not really happening.

(Yeah... that was sarcasm).

xjug1987a - 10/22/2018 8:23:47 PM

0 Boost

Well Barry Soetoro took credit today in Nevada so when if crashes we’ll just blame him... even though that insignificant nothing “didn’t build that!!!”...

ricks0me - 10/22/2018 5:32:07 PM

0 Boost

Maybe the car mfgs. are building just enough to fill the sales pipeline and not over producing. No incentives needed with this business model.

I do not know this to be a fact, just speculating.