People Are Walking Away From Car Orders

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What does this mean for the new car market moving forward?

If you’ve been paying attention to the car market at all in the past three years, you know prices for both new and used vehicles have soared out of control. There was a point not long ago when dealers were offering people more money for their two- or three-year-old car than it sold for new, the market was so tight. Paying over MSRP for a new vehicle was also just accepted for just about every brand under the sun. Now that’s starting to change and quickly as people are walking away from custom car orders, leaving dealers with secretly swelling inventories.

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That’s right: customers who took the time to order a vehicle just the way they wanted from the factory, waited patiently for delivery, then are contacted by the dealer to take delivery of the car are instead opting to not complete the transaction. It might sound like lunacy, but there’s a good reason for it.

With interest rates on the rise, plus inflation squeezing people ever tighter (going to the grocery store is a practice in frustration these days), people are looking to shed unnecessary financial baggage. This means their dream car they ordered in just the right spec suddenly becomes either an unwanted burden or quite simply is something they can no longer afford.

In a video posted to YouTube by channel Hemi Muscle, it’s claimed this is happening rampantly with Hellcats and Scat Packs. Instead of getting the more powerful Dodge V8 models, people are opting for R/Ts or something with a V6 engine. That makes us wince as enthusiasts, but at the same time when money’s tight you have to make sacrifices, so it's understandable.