Will truck prices go down or is this the new normal?

[RifleBowPistol]

Truck prices are based off of what idiots will pay for them. So as long as idiots are willing to pay $80,000 to $120,000 for a truck the manufactures will gladly keep the prices there and then try to see if they can push them upwards. If 90% of the truck buyers refuse to pay those numbers, the manufactures will come down on the prices. Most people who spend that type of money on a truck, it's a status/image thing, most have very little use for a truck at all. So those people drive the prices way up for the people who really need a good reliable truck. The manufactures make ridiculous profits off of trucks and have done so for many years now. They could drop the prices by half and still make a very healthy profit. But certain types of people keep that from happening, by going out and spending $100,000 on a truck that will likely never have anything in the bed, other than some plants from Lowes or their luggage on the way to air port. Those people have completely screwed up the truck market. Until those people decide they don't need another truck or the economy actually gets to the point where the majority of those people can not afford to buy a new truck. The truck prices will stay about what they are.

[camoclad]

Cant give specific evidence but aren't internal combustion engines on the hit list? Shift to EVs? Seems like the market is highly manipulated. When EV inventory climbs, perhaps we will see prices for those cars drop. Heck, the govt may just give you one or two lol.

[Pushbutton2]

I'm thinking since people are still paying the higher prices they'll not come back down. There's no incentive too.

[BlessedVeteran0305]

Truck prices will continue to go up as long as there is a shortage of semiconductor chips.the more they are short the harder the fabs have to work to keep up with the demand.

[jerp]

Cant give specific evidence but aren't internal combustion engines on the hit list? Shift to EVs? Seems like the market is highly manipulated. When EV inventory climbs, perhaps we will see prices for those cars drop. Heck, the govt may just give you one or two lol.

I’m still a bit EV skeptical but it sure seems to be the way things are going. We are in the running to get the new Rivian electric truck plant - it would be built between Ft Worth and Aledo and employ 7,500 workers.

[spread5150]

They offered my dad 49k for his 2019 gmc 2500. He has something else to drive and is thinking about getting rid of it till prices settle. He only owes 2k on it and he paid 63 for it then. Fully loaded. I was at Toyota yesterday they have half tons going for more than that.

[BlackoutRam2500]

Cant give specific evidence but aren't internal combustion engines on the hit list? Shift to EVs? Seems like the market is highly manipulated. When EV inventory climbs, perhaps we will see prices for those cars drop. Heck, the govt may just give you one or two lol.

By 2030 the government would like to see 50% of vehicles sold be EVs. Very lofty goals and they are putting $12,500 incentives in that 3.5 trillion package to try to make it happen. Ford and others have a lot to gain as well... imagine selling an electric F150 for $60,000 that has 40% fewer parts in it AND having the government subsidize the sale using the taxpayers money. It's scary how much BS is happening on that front. [emoji53]

In other news Europe is facing an impending energy shortage/crisis... Russia is slow rolling natural gas supply to them and surprise- surprise those thousands of windmills they spent billions of dollars on are sitting idle because there is no wind in the North Sea.[emoji23]

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[texasdeerhunter]

Can someone explain why the manufacturers are waiting on chips? I my knowledge, the chips that GMC is waiting on are the ones that pertain to the auto stop/start function. Which is a feature I hate anyway. Cant they just sell the trucks they’ve already built and exclude those chips??

[camoclad]

I’m still a bit EV skeptical but it sure seems to be the way things are going. We are in the running to get the new Rivian electric truck plant - it would be built between Ft Worth and Aledo and employ 7,500 workers.

Heard anything new on this? Think it will happen?

[hopedale]

Can someone explain why the manufacturers are waiting on chips? I my knowledge, the chips that GMC is waiting on are the ones that pertain to the auto stop/start function. Which is a feature I hate anyway. Cant they just sell the trucks they’ve already built and exclude those chips??

Its multiple factors from covid to major chip manufacture in Taiwan burning down. You also can factor in the supply chain issue with getting raw materials to the chip manufactures that are up in operational.

Texas is supposed be building a new chip facility in Taylor TX. I believe its Samsung that is building it.

[LAW]

Just purchased a 2022 Ram 2500 at Benny Boyed in Lampassas , price was no different than when I was looking pre COVID but my trade in was much better.

[RiverRat1]

I swear everything is rigged and a scam now. Chip shortage is like the bullet shortage, a bunch of BS.

Bottom line is if we had capitalism (unhindered) supply would never get this far behind demand. And it would surely catch up quicker when it was behind. Not sure why people can't see everything is manipulated and make up excuse after excuse after excuse. I mean we see the crap our own government does daily and how they spend our tax money but nah, this is just one chip plant that burned down and catching up from covid.
So one chip plant on planet Earth burns down and the whole planet is screwed?

[BlackoutRam2500]

I swear everything is rigged and a scam now. Chip shortage is like the bullet shortage, a bunch of BS.

Bottom line is if we had capitalism (unhindered) supply would never get this far behind demand. And it would surely catch up quicker when it was behind. Not sure why people can't see everything is manipulated and make up excuse after excuse after excuse. I mean we see the crap our own government does daily and how they spend our tax money but nah, this is just one chip plant that burned down and catching up from covid.
So one chip plant on planet Earth burns down and the whole planet is screwed?

Agree with you on some of this but no it's not just 1 chip factory. It's the government tightening restrictions on getting chips from China because of national security (that happened under Trump), it's the ports being jammed up in California (they have 75 container ships sitting off shore waiting right now) and it's on-time manufacturing policies coming back to bite all these auto manufacturers in the a**.

A new chip factory takes 2 years to build under the best conditions. I doubt the manufacturers even started scrambling until last fall.

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[jerp]

Heard anything new on this? Think it will happen?

The land is set aside - south side of I 20 just east of the 20/30 split. (Part of the Walsh Ranch) and I think the FW city council approved tax incentives but I’ve heard nothing more.

[RiverRat1]

Agree with you on some of this but no it's not just 1 chip factory. It's the government tightening restrictions on getting chips from China because of national security (that happened under Trump), it's the ports being jammed up in California (they have 75 container ships sitting off shore waiting right now) and it's on-time manufacturing policies coming back to bite all these auto manufacturers in the a**.

A new chip factory takes 2 years to build under the best conditions. I doubt the manufacturers even started scrambling until last fall.

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And why can't those things be fixed? I get a hold up for a week or two or maybe longer but for over a year?

And again that's one tight industry for 1 out of how many chip plants in the world? There are 35 semiconductor companies. So one plant in one company goes down and a 3 year back log starts LOL... I want to be in that business!

IMO it's policies that make it impossible for others to start making chips (and bullets). Unhindered capitalism would have this solved quick.. But that doesn't exist anymore so....I guess we're screwed.