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- Clark Biweekly 12 14 23
Clark Biweekly 12 14 23
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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
🚘️ 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
Podcast description goes here.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.
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