Record February sales by Wrangler

[JLBuyer]

And with everybody confident in financing new cars, there's this.....

• 
  

Total US household debt soars to record above $13 trillion

• Total household debt rose to an all-time high of $13.15 trillion at year-end 2017, according to the Federal Reserve Bank of New York's Center for Microeconomic Data.
• The report said it was fifth consecutive year of annual household debt growth with increases in the mortgage, student, auto and credit card categories.

Tae Kim | @firstadopter
Published 2:53 PM ET Tue, 13 Feb 2018 Updated 3:43 PM ET Tue, 13 Feb 2018CNBC.com

The American consumer is loading up on debt.

Total household debt rose by $193 billion to an all-time high of $13.15 trillion at year-end 2017 from the previous quarter, according to the Federal Reserve Bank of New York's Center for Microeconomic Data report released Tuesday.

Mortgage debt balances rose the most in the December quarter rising by $139 billion to $8.88 trillion from the previous quarter. Credit card debt had the second largest increase of $26 billion to a total of $834 billion.


The report said it was fifth consecutive year of annual household debt growth with increases in the mortgage, student, auto and credit card categories.

The figures are based on a sample of debt and credit records from Equifax data.

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[FrenchSSGTMike]

Ok that's now TWO long winded rants about the soft top.. your "convertible" fetish is getting a little creepy..

Guy wants a convertible... gets a Rubicon !!!! Lol

 

[JLBuyer]

Yeah, gotta wonder how many times his friends drive past his house looking for his place when he says.... "can't miss my house bro, it's the one with the convertible in the driveway.."

 

[kingdog23]

So in a matter of a few hours, FCA discussed AND fully implemented a price increase system wide over a tariff increase mentioned off the cuff, with no idea when that tariff might occur and if it will even be enacted at the level suggested or frankly at all?

:cwl:

OMG...Everybody needs to take a breath. Corporations do not move that quickly, nor should they.

 

[AZCrawl]

And with everybody confident in financing new cars, there's this.....

Total US household debt soars to record above $13 trillion

• Total household debt rose to an all-time high of $13.15 trillion at year-end 2017, according to the Federal Reserve Bank of New York's Center for Microeconomic Data.
• The report said it was fifth consecutive year of annual household debt growth with increases in the mortgage, student, auto and credit card categories.

Tae Kim | @firstadopter
Published 2:53 PM ET Tue, 13 Feb 2018 Updated 3:43 PM ET Tue, 13 Feb 2018CNBC.com

The American consumer is loading up on debt.

Total household debt rose by $193 billion to an all-time high of $13.15 trillion at year-end 2017 from the previous quarter, according to the Federal Reserve Bank of New York's Center for Microeconomic Data report released Tuesday.

Mortgage debt balances rose the most in the December quarter rising by $139 billion to $8.88 trillion from the previous quarter. Credit card debt had the second largest increase of $26 billion to a total of $834 billion.


The report said it was fifth consecutive year of annual household debt growth with increases in the mortgage, student, auto and credit card categories.

The figures are based on a sample of debt and credit records from Equifax data.

I paid cash!

 

[JLBuyer]

I paid cash!

I'm with you man I've been saving and saving for this thing. The Jeep will not make me any money, it will not get me to and from work, it will just sit in my garage for the occasional trail or to tow behind my motorhome so there's no way in hell I'm financing it.

 

[AZCrawl]

I'm with you man I've been saving and saving for this thing. The Jeep will not make me any money, it will not get me to and from work, it will just sit in my garage for the occasional trail or to tow behind my motorhome so there's no way in hell I'm financing it.

Yeah, I saved up as well, glad I did and glad I waited for the JL!!!

 

[misanthrope]

Jeep brand total sales increased 12 percent in February to 70,020 vehicles The Jeep Renegade and Jeep Wrangler led the portfolio by reporting their best February sales ever. Wrangler sales increased 17 percent to 15,936 vehicles while Renegade rose 4 percent to 8,249 vehicles.

https://www.prnewswire.com/news-releases/fca-us-reports-february-2018-sales-300606651.html

There goes those rumors that JLs aren't selling...

You know, last February was Wrangler's best February ever, too...as was the February before that, and the one before that. And that Wrangler sales spiked year-over-year when the JK came out by 50%. So let's see if the JL can match that. (It equals about 11 Wranglers per state, per day, to put it in perspective)

 

[DrPerez007]

[Pulled from my posting on the Price Increase thread]

Sad, but true, demand presently exceeds supply and since Jeep is essentially “carrying” FCA financially these days, this is probably not the last of the increases we will see across the entire JL line. As equally as unfortunate is that the new Jeep pickup is likely going to be one expensive vehicle when it appears later this year. Hopefully, Ford gets to market first with the new Ranger pickup just to keep Jeep JT prices ‘somewhat stupid versus completely stupid.’

As for the factory order, in Wisconsin, for example, our DOT advises that under certain conditions the law allows the dealer to adjust the contracted purchase price of an order-out new vehicle due to changes in the manufacturer's price. Manufacturers do not have consistent practices on price protection and it is important that buyers are aware of each manufacturers pricing policies. The price protection section on the purchase contract must be completed in order to adjust the price.

A dealer may also legally increase the purchase price of an order-out vehicle for the following reasons:
Any additional equipment required by state or federal law
* For foreign vehicles, a revaluation of the U.S. dollar by the U.S. government
* Increase of state or federal taxes on the vehicle
* Raising the price of a vehicle after a purchase contract has been signed by a customer and accepted by a dealer, for reasons other than those allowed, is illegal and known as "bushing."

So it appears that under very limited, certain circumstances in Wis the dealer could hold your JL hostage for the new higher price if they have complied with the law. In any case, however, since consideration (price) is an essential element of a contract, any subsequent and substantial change in that element after you place a factory order is likely to allow the contract to be canceled by the buyer with a refund of the deposit (if the dealer legally demands the increased price). No dealer should refuse to refund the deposit for multiple reasons if there is a price increase, including, among others, because the JL is simply a commodity that can be easily sold to the “next guy,” so the dealer is out nothing beyond some deminimis or nominal amount. In fact, some dealers may be happy to refund the deposit on a now higher priced unit because the "next guy" may mean more profit on the higher MSRP.

There is no evidence that the tariffs or tariff discussion on aluminum and steel had anything to do with the price increase and, for what it is worth, it appears Mexico and Canada will be exempt from these tariffs. Yes, there is likely some veracity to the possibility of future increases because of the tariffs, but corporations are loathe to make impulsive decisions on pricing, which require studies and analysis of costs, markets, trends, competition, etc., and the decision is generally not left to some bean counter or even the CEO to make overnight. On the other hand, however, as we all know from the movie Wall Street, “greed is good,” and the corporate types could have done some studies to see what the market will bear and then adjusted prices along the way. There are three (3) certain things in life: death, taxes, and Jeeps have round headlights. Now you can add one more: Jeep prices will increase again.

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