Monday, July 13, 2009

Toledo's Jeep Liberty listed as one of most over-priced vehicles

This is not good news for our city.

Forbes has the story:

"These days, car buyers have the upper hand when they walk into the showroom. They have access to dealer invoice prices and day supply data on the Internet--not to mention a recession that has spurred lowest-ever financing deals and unprecedented cash-back incentives.

But that doesn't mean every vehicle is a bargain; plenty are still overpriced. Right now, according to Vincentric, a firm that tracks vehicle ownership costs for the auto industry, several cars on sale now have market values far below their manufacturer's suggested retail price.

The Jeep Liberty, for example, has a true market value 20.9% lower than its MSRP(emphasis added); the Dodge Ram 2500 is worth 26% less; and the Chevrolet Trailblazer is worth 16.4% less than its MSRP.

Those three models, in particular, tell the story of the most overpriced autos currently on the market: Our entire list is comprised of vehicles manufactured by Detroit's Big Three. No foreign brands make the list, as those automakers' cars tend to be priced fairly when considering supply and demand as well as their high rankings on consumer-satisfaction surveys."

1 comment:

Mad Jack said...

The junk in my basement is your antique deal of a lifetime, or so says the law of supply and demand. If these cars are over-priced, then the cars won't sell and price must be lowered. The alternative is allowing the auto to sit and quietly depreciate.

True, the article does the rust belt no good, but at this point I frankly don't care. The Titanic is resting on the bottom (we hope) and no amount of touting the unsinkable ship advertising slogan is going to make it arrive safely in New York harbor, nor is repeating the obvious: ships sink. They've been sinking since the very first Neanderthal smacked his dugout canoe into a surprisingly newly discovered coral reef. What must happen next depends on the survivors; not on an overly trendy slick whose primary reason for destroying part of a rain forest is sales and stock prices.

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