Originally Posted by kumquat
I live in an area that, at least until very recently (Dec. 08), has had record car sales (I haven't seen any 09 stats). I bought a year old 07 Ford Ranger last June for about MSRP - 27% of new 08. For a new 08, I'd have been lucky to get 10% then. Recently I've seen ads for new 09 similar to mine for about $1K above what I paid used (that's before all the delivery, setup and other
* hidden charges). Since, believe it or not, car dealers aren't hurting big time in my area, I think the prices they pay are falling and people here are getting deals.
I heard something similar for 2008. My company supports the automotive industry (ford, nissan, GM, mazda, renault, BMW are all top 10 customers).
We were told the first half of 2008 was on pace to be a record setting year for car sales, and by years end it was one of the worst years on record (the worst year?) for sales. That is how bad things were the last half of the year.