Advertisement
Clark has predicted that car prices will moderate over a long period of time since the COVID-19 price spikes. Find out how strong his predictions are looking right now later in this email.
💵 Today’s Top Stories
At 32 miles per gallon, three vehicles offer the best fuel efficiency of any non-hybrid combustion engine in the market. Read more.
A listener keeps having to buy new LED bulbs, which can sometimes last decades. What does Clark think the problem is? Read more.
Is your iPhone storage always full? Read our story on how to free up space. Read more.
Here are the factors that retirees should consider when evaluating credit cards whether you’re traveling the world or living on a small, fixed budget – and some of our favorite cards that fit the bill. Read more.
🚘 Car Price Normalization Is Real and It’s Spectacular
If you listen to Clark’s podcast or read Clark.com every week, you’ve noticed a monotone piece of advice from the money expert.
Want the best price on buying a vehicle and don’t need one immediately? Wait.
From the COVID-19 supply chain issues that dropped inventory well below demand to stubborn dealerships reacting slowly to free-market forces, Clark has predicted a steady but drowsy moderation.
That’s exactly what has happened – slowly at first, but in a much more real sense toward the end of 2023. (Now if only interest rates fall in ’24, right?)
Here are some numbers that illustrate how Clark’s long-held predictions are coming true (hat tip to Car Dealership Guy):
The average retail price for vehicles fell more than 4% from December 2022 to November 2023.
Incentive spending per vehicle more than doubled during that same time period (now $2,247 on average).
The average loan amount for all vehicles fell $1,359 year over year.
Gross profits per vehicle have fallen for six consecutive quarters for publicly traded auto retailers.
Here’s a look at the vehicles that have fallen the most in price since August.
📊 Stat of the Day
🍎 45%: Apple’s share of the smartwatch market in Q3 of 2023. Apple widened its advantage over No. 2 Samsung, which fell from 24% to 18% market share in the last year. Huawei smartwatches saw a 122% surge thanks to popularity in China and have reached 14% market share.
💰 Deal Alert: Today’s Top Deals
🎙 Podcast
It is so expensive to buy a home, especially for first-time home buyers. Clark talks through the most expensive metro areas and gives some advice if you’re in the market right now. Also, many fancy restaurants are doing serious take-out business. Clark shares some examples and tips to save when eating out.
☎ Need Money Help?
The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.
