GM’s CEO Drops Bad News For New Truck Prices

It seems as if there is a rather large contingent of people who want to make a major purchase but are simply holding off and hoping that the market of their choice makes its way back to pre-2020 levels. Whether it’s the new vehicle market, used vehicle market, or even the real estate market, folks are chomping at the bit with the hopes that eventually prices fall back into their wheelhouse.

Whether or not prices ever come back down is something that our crystal ball isn’t quite telling us right now. However, there have been updates throughout the automotive industry that are beginning to paint a picture of what the future might look like and it doesn’t really appear as if we’re going to get back to pre-pandemic pricing in the automotive industry, at least not in the foreseeable future.

Now that we’ve gotten to what feels like the end of supply issues, chip shortages, and dealer markup due to a variety of factors, it kind of feels like prices should begin to mosey their way back down. However, even as vehicle supply begins to ramp up a little bit, pricing isn’t really going in the direction that we all thought it would.

YouTube creator, Brian Mello, breaks down all of the odds and ends about where the market is at and where it might be going. In a recent video, he posted about GM CEO, Mary Barra, an a segment that she took part in on CNBC’s Squawk on the Street, where Barra commented about the idea of how GM is seeing consistent pricing.

Mello continues to point out that any moves in the downward direction that the automotive market has experienced have been very slow and are generally offset by random rises as well. In other words, for people who are looking for a steep discount on a vehicle, they could be waiting for quite a while. Tune in with the video below as our host breaks it all down for us to explain where exactly the truck market is and what we might be seeing in the near future.