Overhaulin'

Will car prices in US drop due to economic factors?

Economic situation in US is not that good right now, and I am planning to buy new MB C300 or Lexus ES350, will the prices drop in next couple month (Feb, March 2008)?

Public Comments

1. no bit they might go up
2. i don't think they will because labor and cost of stuff they build them out of does not drop the intrest rate might.
3. No, the economy might be bad but costs are stil just as high.
4. No, they won't. Car prices can't go down - GM, Ford, and Chrysler are all basically bankrupt. Their prices have been cut to the bone and rebated for years now. When sales slow, prices will have to go up for them just to survive. The makers who aren't bankrupt will certainly not lower prices at that time. They won't need to.
5. For import cars they will most likely go up as the Dollar softens against foreign currencies. American cars as the market softens, due to people not spending money, will have bigger incentives to help them sell. That is when I will be looking for a new SUV... in July after the worse has hit and they are kissing butt to sell a car. At least I hope the worse has hit and things have settled out by July...
6. having studied economics in high school, i for one can tell you that our facing a recession shouldnt deter us from buying cars. consumers are buying less durable goods for now, but the near future looks optimistic.