2025 is a few days away. Many companies such as Suzuki Honda and Ford are still advertising these new cars as deals. MY23 cars could even be built in late 2022.
What reasons could there be for so many cars from 1+ years ago still not being sold? In a few days, why would people buy a 2 year old new car without a large discount?
After the shortage on cars during Covid, an influx of too many cars manufactured and shipped here in Australia. With the hope of selling them for top dollar. But since the product has overreached the demand, they were stuck with old stock.
So some heavy (really big) discounts can be had for people that don't care about MY (manufactured year).
Some good bargaining skills are needed to ask for a huge discount. If a car with an old MY it's not discounted heavily, do not buy!!
"MY (manufactured year)."
MY is model year
.
100% this. “MY” denotes “model year” and defines what the vehicle will look like and what features it has.
“Manufacture year” is more what would be regarded/referred to as “build date”. This is usually the date the final parts go in the vehicle.
“Compliance date” is the date the vehicle received its compliance and entered into the RAV.
All three of these “dates” can be independent of each other.
MG had to slash almost $10k off the MG4 to get their MY23 stock moving in late 2024.
It is a massive difference from 2020-2023 where stocks were limited and car yards could charge pretty much anything they wanted. Some makers got super greedy and pumped prices too high, necessitating steep cuts now. Even if an MY23 car is 13 months old in January 2025 it still counts as a fully two year old car as far as resale value is concerned.
Market forces. Covid screwed up the car industry big time. Cost of living pressures doing the same in the opposite way.
If my grandmother had wheels she would've been a bicycle.
harsh
.
Economic downturn and a prolonged COVID hangover.
During COVID, dealers ripped consumers a new a-hole and thought they could keep it going forever. COVID came and went and people overpaid for their vehicles and have decided that they need to keep their Covid car a little longer.
Added to all this, dealers and manufacturers thought this panic buying spree was going to last forever, so they started shipping cars as fast as they could in 2023 and the post covid demand just wasn’t there.
Roll on almost 2 years later and people don’t want 2023 cars, they want 2025 cars. The expectation has now gone back the other way from where consumers were happy to get their hands on whatever was available to now wanting the latest.
Over supply, old stock, charging covid prices and offering pre-covid prices for trade ins, coupled with cost of living increases and people holding out on the new crop of vehicles entering the market…
Crisis? What crisis?
Boxing Day and Black Friday sales proved one of 2 things. The COL crisis is either a mirage.
or
Ppl self stoke the COL crisis, and expect politics to resolve their outliving their own means.
Recessions require lifestyle changes. The herd said yeah nah.And here we are.
Surrounded by shit we don't want or need with the worlds biggest fridge,running on empty.
The next step is voting for snake oil and sliding further into the abyss as we dream of a nuclear future, surrounded by the ash of forests long since gone.
Happy New Year everyone.
what?
billionaires on yachts can co-exist with people starving on the streets. I'd have thought this would be common sense.
What reasons could there be for so many cars from 1+ years ago still not being sold?
Unlike other companies that build to order, these companies pump out cars unsold and push them to the dealer network to hold, while waiting for a 'sale'.
When that sale doesn't happen, they sit in the lot for months and months that turn into years.
So that is how you get them. Basically COVID created a demand issue that car companies couldn't keep up with at the time. Everyone was buying cars old or new, as they stopped using public transport, so demand was crazy high and supply was low. Used cars went UP in value for one of those rarely ever happening things.
Car companies thought the craze would go on forever, so pumped out cars like no tomorrow! Now shocked it ended.
I'll have a guess>
Still being advertised because they want to sell 'em?
Why so many? The sheep have jumped on the EV bandwagon.
ergo> There's a real clufck ahead around the whole auto industry. From sales to support and service.
50 cent transport fares would make me think twice about a second family car.
( if in a big city)
At peak times on public transport you can hardly get a spot… now imagine if that was $0.50 instead of $3~$5 for the same trip…
I love being touched by 10 random strangers at once, with at least half of them not having showered for a week, it's amazing.
Suzuki, Honda and Ford are not really at the top of anyone's "I want to buy" list, unless it's a jimny or an f truck. Unwanted cars don't get purchased, and then sit around, getting older and older.
add cupra, vw, audi to you MY23 list
Common sense?