Do we have a pickup glut already?

[Groover]

GM shuts down Indiana plant for 2 weeks

"Feb 23 (Reuters) - General Motors said on Thursday it will halt production at its Fort Wayne Assembly truck plant in Indiana for two weeks from March 27 as inventory starts to outweigh demand with the easing of supply-chain snags.

Shares of the U.S. automaker fell 3% in early trade, while rival Ford Motor Co was about 1% lower.

After two years of U.S. automakers scrambling to keep pace with demand amid a parts shortage, GM's decision to cut production of its highly-profitable pickup trucks signals a shift in the status quo.

"GM probably is trying to maintain pricing power with this move but it's also contradictory to what they've been saying for a while recently that demand remains very strong," Morningstar analyst David Whiston said."

I would guess that more than one manufacturer is affected. Ford sent me a $2000 coupon for a new F series truck a couple of weeks ago. I just checked incentives for the F150 and they are offering 0% financing for 3 years plus $1000 Bonus cash through the end of February.

[mkirsch]

There might not be a glut but dealers are apparently hurting for sales if they are putting any kind of "offer" out there. It is exactly as I foretold when they naysayers said the manufacturers would collude to keep inventory artificially low so they could continue to gouge customers forever and ever and ever and ever...

Between bad press, hurting for sales, and just plain old competitive spirit, someone blinked. I mean sure 0% for 3 years isn't great, but it's better than 8.5% for any amount of time.

[monkey44]

Dadoffourgirls wrote:

monkey44 wrote:
That's not a new policy for GM ... I can remember the certificates we got years ago in Buffalo NY . RIght on it said, 'Cannot sell vehicle in less than twelve months.' Don't remember the exact wording, but similar. Twenty years ago, at least. GM might have changed the policy and the wording more recently, but that policy has generally been in effect over the years. I know you work for GM, I might have the wording and current policy inaccurate as often as things change, so mean no offense to your comment Do4gs. 🙂

The policy for over 15 years was that the purchaser must retain the vehicle for 6 months.

OK, I've been out of that mix for a while - I do remember it was a rule of some sort for us years ago. So, GM went from six month to new a year. Must have its reasons ... My last GMC I kept fourteen years and 214,000 miles, so am out of touch. Plus, divorced my certificate a few years ago. 🙂

[Dadoffourgirls]

monkey44 wrote:
That's not a new policy for GM ... I can remember the certificates we got years ago in Buffalo NY . RIght on it said, 'Cannot sell vehicle in less than twelve months.' Don't remember the exact wording, but similar. Twenty years ago, at least. GM might have changed the policy and the wording more recently, but that policy has generally been in effect over the years. I know you work for GM, I might have the wording and current policy inaccurate as often as things change, so mean no offense to your comment Do4gs. 🙂

The policy for over 15 years was that the purchaser must retain the vehicle for 6 months.

[Danger_Don]

Groover wrote:
Ford sent me a $2000 coupon for a new F series truck a couple of weeks ago. I just checked incentives for the F150 and they are offering 0% financing for 3 years plus $1000 Bonus cash through the end of February.

Great!

Lets do the math.

2023 XLT trim level, Supercrew, 6-1/2 bed 4x4 with the 3.5 Ecoboost and no other added options except for Max tow package.

MSRP = $54,585.00

Less the $2000.00 Coupon and $1000.00 cash so $51,585.00

Throw 10% down = amount financed somewhere in the neighborhood of $49,000.00 adding back in taxes, paperwork, tags etc

$49K financed for 36 months at 0% is only $1361.00 per month for what amounts to a lower tier pickup.

Now that's a deal right there LOL. You could probably get 4.9% for 72 which is only $680.00 per month, oh boy, what a bargain!

How about a semi loaded F-150 Lariat for @ $70K sticker, same math.

$62300.00 financed all in after plopping down 10%, 36 monyhs at 0%.
$1730.00 per month.

Have at it LOL. I'd be waiting at the door when they open.

[Grit_dog]

^Ya, 10-4!

[propchef]

Grit dog wrote:
I hate quote fests ….so @propchef, yeah Ram has had issues with grid heaters for a while.
To the point that many disconnect them permanently. Not the wiring plug short but arcing and dropping a grid heater bolt into the intake and subsequently the engine.
Would be nice to get a recall rod on both.
My solution is just to not use the grid heater. It’s not really warranted or needed until temps are below zero F anyway. The big C starts just fine without any help even in most winter temperatures.
Agree though, it’s and issue. Just like ALL other mfgs have or had major issues.

Thanks for the heads up though since I probably have a truck that’s included in that recall, just like others.

Not sure how your post related to unsold F Lightnings though….or even remotely to the subject of the thread…

I responded to a comment. It was quoted. 🙂

[ppine]

There is no glut of pick-ups. Prices tell the story.
I only bought a new truck because used ones cost just as much.

[ronharmless]

Danger Don wrote:

Dadoffourgirls wrote:
Except GM has a new policy that employees cannot sell vehicles for a profit for 12 months after purchase.

Now if they only had a policy that their dealers can not r ape the buyer by charging $5K or more over MSRP. I personally hope new sales slide off the cliff, which seems to start to be happening and accelerating.

So basically you’re hoping for a deep (off the cliff) recession or worse?

[monkey44]

That's not a new policy for GM ... I can remember the certificates we got years ago in Buffalo NY . RIght on it said, 'Cannot sell vehicle in less than twelve months.' Don't remember the exact wording, but similar. Twenty years ago, at least. GM might have changed the policy and the wording more recently, but that policy has generally been in effect over the years. I know you work for GM, I might have the wording and current policy inaccurate as often as things change, so mean no offense to your comment Do4gs. 🙂

[Danger_Don]

Dadoffourgirls wrote:
Except GM has a new policy that employees cannot sell vehicles for a profit for 12 months after purchase.

Now if they only had a policy that their dealers can not r ape the buyer by charging $5K or more over MSRP. I personally hope new sales slide off the cliff, which seems to start to be happening and accelerating.

[Grit_dog]

I hate quote fests ….so @propchef, yeah Ram has had issues with grid heaters for a while.
To the point that many disconnect them permanently. Not the wiring plug short but arcing and dropping a grid heater bolt into the intake and subsequently the engine.
Would be nice to get a recall rod on both.
My solution is just to not use the grid heater. It’s not really warranted or needed until temps are below zero F anyway. The big C starts just fine without any help even in most winter temperatures.
Agree though, it’s and issue. Just like ALL other mfgs have or had major issues.

Thanks for the heads up though since I probably have a truck that’s included in that recall, just like others.

Not sure how your post related to unsold F Lightnings though….or even remotely to the subject of the thread…

[Grit_dog]

^ How on earth would they know if you “made a profit?”
I sell or buy “$1500” vehicles and toys all the time….or sell or buy them as family “gifts.”
That’s just for the tax man though. My boss doesn’t care because I don’t work for a car company. Same principles apply though.

[Dadoffourgirls]

Danger Don wrote:
...As far as GM HD trucks go, they say the 2024 GMC will be available "Spring 2023" and on the Chevy site they have pages for the 2024 Silverados. If the 2024s are going to be available in a month or 3 they have to stop making 2023's at some point, especially since you cant find one regardless. Hows that for spin?


Seeing that not long ago financing on say a $60K pickup for 72 months could be had for 1.9% or less, and now they're advertising a wonderful great deal at 4.9% for 72, that extra $100.00 per month or close to it on a payment has to put something into a glut.

Yes, GM is only taking orders for 2024 models. I was going to order a 2024 to replace the $79k 2022 3500 CCSB Duramax loaded LTZ that I bought to flip. I paid $67k out the door with tax/reg. Except GM has a new policy that employees cannot sell vehicles for a profit for 12 months after purchase. I am also waiting to see how the 10 sp with the gas engine performs. That might be my choice. And I may just keep my truck I got to flip because of the cost to finance another.

[Danger_Don]

propchef wrote:

Danger Don wrote:

Grit dog wrote:

Reisender wrote:
As far as electric half tons, Rivian still has a 15 month waiting list. I’m not sure if there is or how long the waiting list is for the ford lightning. Prices seem to have stabilized somewhat for fords. Rivians are non negotiable.

Lightning must be zero now? Been a couple lightnings sitting in the dealer lineup in Kent, WA for at least a few weeks now.

If its not zero, it perhaps should be. Hope the dealer in Kent has his insurance paid and fresh batteries in the smoke detectors LOL.

F150 Kindling

Are you sure you aren't thinking about ICE Ram trucks? Seems like more of a risk to me.

https://www.cbsnews.com/boston/news/ram-dodge-recalls-pickup-trucks-chassis-trucks/

Stellantis is telling the owners of nearly 341,000 Ram diesel trucks to park them outdoors because an electrical connector can overheat and cause a fire.


The company said Wednesday it's recalling the trucks to replace the connectors after getting reports of six potentially related fires. In one case, the owner reported that a fire started after the truck's engine was shut off.

The recall covers certain Ram 2500 and 3500 pickups and Ram 3500, 4500 and 5500 chassis cab trucks from the 2021 through 2023 model years. All have 6.7-liter Cummins diesel engines with older heater-grid connectors.

Maybe LOL. In the case of the 150 Lightning, reading through the linked article, it appears Fords problem may be a little more involved than an electrical connector on a wire somewhere.

“The teams worked quickly to identify the root cause of the issue,” Ford said in a statement Friday. “We agree with SK’s recommended changes in their equipment and processes for SK’s cell production lines.”

That makes it sound like you might have F150 lightnings on the road or in showrooms with defective batteries installed, not exactly a wait in the lounge while its addressed item by a longshot. But then again it's Ford lol.