Looking Grim(er) For Stellantis

[Wbino]

I don't think the population is generating enough people to keep buying 200,000 Wranglers a year, especially at skyrocketing prices, it would only get worse when people can't get good resale to keep flipping these Wranglers every few years.

I've started locking my doors now, someone steals this Wrangler I'll end up getting a cheap EV, used Tesla 3 maybe. A 2024 same options as my 2021 is 30% more, way more than what I want to pay for a Wrangler.

$3 for an avocado is beyond crazy, before the lockdown Costco sold 5 huge Haas for $6.99, now it's $11.99, luckily every few weeks regular grocery stores have 5 smaller ones in a bag for $2.99.

Complaining about prices while thinking flipping a Jeep every couple of years is a good economic move is ridiculous.

Sponsored

 

[Maverick Scott]

It’s surprising to see Jeep cut production on the Wrangler and Grand Cherokee, especially since they were top sellers. Seems like Stellantis is trying to manage excess inventory, but it’ll be crucial to see how this impacts their sales and dealer relations in the long run.

 

[2nd 392]

This explains why I'm just drinking and working. It's the only thing stable anymore.

In that order ? Your job ? a Brain surgeon ? Airline pilot ? … just to settle your nerves ?

Priceless Foster Brooks, Dean Martini skits

 

[alphawolff]

I thought the market decided?

I doubt the election has ANY input on stellantis decision making. Their current EV push is because of EU mentality, not the U.S. GM/Ford are pulling back their EV plans because they're money pits with nothing to show for it. Stellantis jumped on the ball so late they should try to read the room.

 

[Wbino]

I doubt the election has ANY input on stellantis decision making. Their current EV push is because of EU mentality, not the U.S. GM/Ford are pulling back their EV plans because they're money pits with nothing to show for it. Stellantis jumped on the ball so late they should try to read the room.

EV are in their infancy, if American companies think they can Merica the evolution of vehicles, they are mistaken this is fortunately and unfortunately a world economy and when someone comes out with a 500 mile range ev the American auto makers have to be at least somewhat prepared.
This is another sky is falling thread, people don't have alot of disposable income. Period.

 

[8ball]

It's not the prices it's wages but no one will admit they don't make enough and demand their right to certain vehicles and that manufactures lower prices.
Can't afford a Wrangler? Get a Compass or whatever they are making now.
Prices are here to stay across the industry.

This is true….

 

[blackwater]

EV are in their infancy, if American companies think they can Merica the evolution of vehicles, they are mistaken this is fortunately and unfortunately a world economy and when someone comes out with a 500 mile range ev the American auto makers have to be at least somewhat prepared.
This is another sky is falling thread, people don't have alot of disposable income. Period.

Due to numerous reasons, MOST people do not have disposable income, but to name a few;
1. Lived beyond their means
2. maxed out credit cards……related to #1.
3. Thought Covid handouts would last forever
4. must keep up with the Jones
5. never realized inflation was not transitory

regarding #4, I took my dogs to the park last weekend and every 8 year old Little League player had so many bats and gloves, they needed a $300 special equipment tote with wheels, to pull their bats/gloves to the field. It was amusing to see all the color coordinated totes lined up next to the dugout. The parking lot was soooo full of newer high dollar SUV’s….Range Rover, Escalade, BMW and Tahoe’s, I could barely maneuver my $90k Raptor through the lot. In my defense, I have never made a credit card interest payment, worked my ass off, saved for retirement, fully own what they say is a million dollar house, earn about 17k-$20k per month and have seven figures in a money market. Conversely, many of those SUV’s are parked in the driveway of a $400k spec house, which is likely to have a mortgage. So yes, there are people out there that have enough disposable income to pay cash for a Jeep. Some of those individuals are rich, others are like me, lived within my means and saved for the pending financial crisis that will probably make 2009 look like a cake walk. Time to pop a bottle of Yamasaki 18!

 

[N0cturnal]

We took the Summer of Jeep event offer with $5000 off, plus 0% finance for 36 months, plus another 3 grand off from the dealer. Not best, but its ok, as I was chasing one of the last remaining Sarge Green which is discontinued and this dealer 250 miles away had one.

If Jeep wants to move inventory, they have to give higher discounts and better finance options, especially on 4Xe and 4L models, which is what I see on lots by dozens in DMV area.

 

[siggy]

Due to numerous reasons, MOST people do not have disposable income, but to name a few;
1. Lived beyond their means
2. maxed out credit cards……related to #1.
3. Thought Covid handouts would last forever
4. must keep up with the Jones
5. never realized inflation was not transitory

regarding #4, I took my dogs to the park last weekend and every 8 year old Little League player had so many bats and gloves, they needed a $300 special equipment tote with wheels, to pull their bats/gloves to the field. It was amusing to see all the color coordinated totes lined up next to the dugout. The parking lot was soooo full of newer high dollar SUV’s….Range Rover, Escalade, BMW and Tahoe’s, I could barely maneuver my $90k Raptor through the lot. In my defense, I have never made a credit card interest payment, worked my ass off, saved for retirement, fully own what they say is a million dollar house, earn about 17k-$20k per month and have seven figures in a money market. Conversely, many of those SUV’s are parked in the driveway of a $400k spec house, which is likely to have a mortgage. So yes, there are people out there that have enough disposable income to pay cash for a Jeep. Some of those individuals are rich, others are like me, lived within my means and saved for the pending financial crisis that will probably make 2009 look like a cake walk. Time to pop a bottle of Yamasaki 18!

Such a humble post.

 

[blackwater]

Such a humble post.

Dude, I worked my ass off in the states, Afghanistan and Iraq. In a war zone, everything is tax free. I also completed 8 years of post graduate education. Both of my parents did not graduate high school. I am not a person that can sit through a lecture a get a passing grade. I am actually humble, but I also know bitching about this or that will never resolve the issue. In 1991, I read a book that changed my life, Investing for Dummies. Maybe you should get a copy!

 

[BuyHold]

Due to numerous reasons, MOST people do not have disposable income, but to name a few;
1. Lived beyond their means
2. maxed out credit cards……related to #1.
3. Thought Covid handouts would last forever
4. must keep up with the Jones
5. never realized inflation was not transitory

...

For what it is worth, I share your assessment. Immediate gratification culture with recent low interest rates + "gubmint" bucks further enabling bad decisions.

I read a NYTimes article about how many people fund their Disney vacations on debt! https://www.nytimes.com/2024/08/20/business/disney-vacation-debt.html

I think about my grandparents' and their peers' philosophy on spending vs saving and wonder how generational perspectives on what I believe are common sense and responsible decisions could have shifted so adversely.

 

[blackwater]

For what it is worth, I share your assessment. Immediate gratification culture with recent low interest rates + "gubmint" bucks further enabling bad decisions.

I read a NYTimes article about how many people fund their Disney vacations on debt! https://www.nytimes.com/2024/08/20/business/disney-vacation-debt.html

I think about my grandparents' and their peers' philosophy on spending vs saving and wonder how generational perspectives on what I believe are common sense and responsible decisions could have shifted so adversely.

When I saw your quota, I thought here comes the guns! You are completely correct. neither of my parents graduated high school, but my mom always told me, save and learn about money. It is probably the only thing I listened to. It is not how much money a person has, it’s how you use it. I will bet my life at least 50% of people on this forum never heard of an amortization table. Google is going to go crazy.

 

[Windshieldfarmer]

Due to numerous reasons, MOST people do not have disposable income, but to name a few;
1. Lived beyond their means
2. maxed out credit cards……related to #1.
3. Thought Covid handouts would last forever
4. must keep up with the Jones
5. never realized inflation was not transitory

regarding #4, I took my dogs to the park last weekend and every 8 year old Little League player had so many bats and gloves, they needed a $300 special equipment tote with wheels, to pull their bats/gloves to the field. It was amusing to see all the color coordinated totes lined up next to the dugout. The parking lot was soooo full of newer high dollar SUV’s….Range Rover, Escalade, BMW and Tahoe’s, I could barely maneuver my $90k Raptor through the lot. In my defense, I have never made a credit card interest payment, worked my ass off, saved for retirement, fully own what they say is a million dollar house, earn about 17k-$20k per month and have seven figures in a money market. Conversely, many of those SUV’s are parked in the driveway of a $400k spec house, which is likely to have a mortgage. So yes, there are people out there that have enough disposable income to pay cash for a Jeep. Some of those individuals are rich, others are like me, lived within my means and saved for the pending financial crisis that will probably make 2009 look like a cake walk. Time to pop a bottle of Yamasaki 18!

I am 100% in your camp with the same outcome. The instant gratification people are those in deep jeopardy right now. I spent my career in finance and worked with many colleagues earning between $300,000 - $400,000 per year that were living paycheck to paycheck and buried with debt. These were typically smart people but very unwise with money…and often felt entitled to live the good life…. They’re still working, I’m retired and can afford whatever I want to drive.

 

[blackwater]

I am 100% in your camp with the same outcome. The instant gratification people are those in deep jeopardy right now. I spent my career in finance and worked with many colleagues earning between $300,000 - $400,000 per year that were living paycheck to paycheck and buried with debt. These were typically smart people but very unwise with money…and often felt entitled to live the good life…. They’re still working, I’m retired and can afford whatever I want to drive.

Other than freelancing legal stuff, I quit work at 53. My neighborhood consists of 43 homes, all are a million plus. Like me, most fled from California. There are people that work at Facebook, Google, Micron and several owners of fast food companies. I have zero doubt, I am the poorest. About 4 month ago, the guy across the street, who moved in four months prior, placed his house up for sale. During a conversation, he told me he and his wife, a CEO of a California hospital, play the house flipping game and have flipped 5 houses in the past 4 years. I asked how he shields capital gains……the guy never heard of the 2 of the last 5 rule. After I described it, he almost fainted. The guy then told me they were building a 2.5 million dollar house on the water and he gave the builder $600k to start, but needed his house to close to complete the deal. Long story short, the house across the street had so many price reductions, he sold it underwater. When it was in escrow, I noticed his Mercedes, BMW and Porsche tuned into two Toyota‘s. I am positive it was because of debt to income ratios for the loan on the new house. Last week his new house was listed for sale. It has a tax lien……..probably due to the five houses he flipped. Now the guy is super bitter and blames “the system”. I’m guessing he is 45 years old, he will never recover.

 

[siggy]

Dude, I worked my ass off in the states, Afghanistan and Iraq. In a war zone, everything is tax free. I also completed 8 years of post graduate education. Both of my parents did not graduate high school. I am not a person that can sit through a lecture a get a passing grade. I am actually humble, but I also know bitching about this or that will never resolve the issue. In 1991, I read a book that changed my life, Investing for Dummies. Maybe you should get a copy!

Still continuing to be your biggest fan, eh. Homeschool high five for you.

Sponsored