Monday Market Update 7/22/24

Let’s recap the current market from the past week…


Overall, the market is cooling. Difficulty acquiring financing, high interest rates, and uncertainty in US politics all play a roll in general buying and market trends, coupled with the unprecedented boom of need during COVID, all translates to less demand and greater supply of vehicles.


As per usual, the American makes are the first ones to start offering financing deals and TV spots mentioning financing deals. Local Ford dealers are taking thousands off new F series trucks, Stellantis is offering deals on Dodge, Jeep, and Ram products as well.

Cadillac has announced a lease deal on Lyriq EV models to combat slow sales and the overall EV sales slump.

The Korean makes (Hyundai and Kia) have also announced some financing deals on some of their less optioned trim levels, so the savvy buyer looking for a deal MIGHT benefit in skipping the sunroof to get that deal.