Want a New Ram, Dodge, or Jeep? Dealers Have So Many, You Might Get a Discount
High interest rates notwithstanding, if you’re looking for a new Jeep, Ram truck, Dodge, or Chrysler, from now until the end of 2023 is a great car-buying time. That’s because the supply of those brands sitting at dealership lots is crazy-high right now. In fact, car sales are so slow that dealers are turning away shipments from the mothership. They just have too many piling up.
It’s the end of the year, the UAW strike is over, and 2024 models are backing up against unsold 2023 models; it is a perfect storm of good news for car buying. With the exception that interest rates are high. But there is even good news on that front, as those rates are starting to go down. Even interest rates on home loans are starting to lower.
Are car sales picking up now?
But, the thing is that many car buyers have been waiting until prices come down. So, while the high inventories are good for you, they’re also good for everyone. That means car sales should begin to increase shortly.
Now, if you want a Ford Bronco or Maverick pickup, don’t expect much in the way of price juggling. Anything that is really popular will probably sell for sticker price (or more). But there is still a gang of new excellent cars that are only sitting because of price and not appeal or value.
Are car sales high for less-expensive vehicles too?
Price has a lot to do with what is sitting around at dealers, and it has heavily impacted car sales in the last few years. In general, the higher the price, the more likely it’s possible to negotiate. Lower-price new cars are selling well. But those $90,000 full-size trucks and luxury SUVs are ripe for negotiations.
According to CarEdge, the average price for 2023 slow-selling vehicles is $77,606. The overall market average is $47,000. The closer prices are to that under-$50,000 mark, the better they’re selling, for the most part.
Here is the market supply for Rams, Dodges, Jeeps, and Chryslers in days. That means that the days indicated are how long it will take to sell out of the current model’s inventory.
How many days of supply are there for Jeep, Ram, and Dodge models?
Ram 2500: 460-day supply
Dodge Hornet: 432-day supply
Ram 3500: 367-day supply
Jeep Grand Wagoneer: 336-day supply
Chrysler Pacifica Hybrid: 331-day supply
Dodge Challenger: 273-day supply
Ram 1500: 238-day supply
So you can see that, especially in the case of Ram pickups, on average, there is a year’s worth of supply, if not more. Let’s just say that there are a lot of trucks lying around dealer lots. Though Stellantis dealers tend to be stingy on price negotiations, they must be motivated under these circumstances.
Though its supply numbers have fallen for October, in September, the Jeep Gladiator had a 330-day supply. But the Lincoln Aviator was at the top of the September list with a 495-day supply. So, like we said, big vehicles mostly equate with big supplies.
Conversely, the vehicle with the lowest inventory also happens to be a truck. The Chevrolet Colorado has only a 24-day supply, with the almost identical GMC Canyon having a 28-day backlog. Both of those trucks have an average sell price in the $40,000s, which, as we said, puts them right in the middle of overall market sales prices. Happy hunting.