Jeep has a 153 day supply on the lots. Sales slowed last year so it has nothing to do with the 2025 model year. It's only March, a good 6 months before the 2025 will even be a thing.
When I ordered my Jeep in November my dealer only had 4 Jeeps on the lot. I would assume because of the strike. Now they have around 50. And they built a new building and separated Jeep from the Chrysler/Dodge building.
Well for the rate to drop that means the FED would need to drop the rate and honestly cheap money is not the answer. If rates being higher means that Americans by and large reduce their freaking ridiculous amount of credit spending then that's a good thing.
I don't think it reduces spending it just means more of what you are spending is going to the banks.
We should know something at 2PM today, but it's not looking likely that the Fed will cut rates.
You just said yourself you're not buying a second Jeep because of rates being too high do you realize the knock-on effect is that you've reduced your credit spending? You're actually in less debt because of higher rates.
I would like to think I'm more of an exception than the rule though. My wife said she's not quite ready to give up her ride but if rates were more affordable i think she would be more apt to make the change sooner. People still need cars though that doesn't change. People will also still likely be spending to the same budget they otherwise were going to but again more of the money goes to the banks is all.
