A dealer reports: "Ford just re-released 'Employee Pricing' on their Ford Trucks (plus up to $3500 cash back). GM just released up to $4000 additional owner loyalty bonus cash on their trucks and SUVs (in addition to the up to $2000 already on the hood). Normally, these incentives give the dealer enough cash to throw at trade-ins to at least make a deal possible. Not profitable. And not painless for the customer. Merely do-able. Well, it ain't enough. In our meetings with manufacturer marketing teams and dealer advisory committees (where the smell of fear is palpable), the stories from the field are apocalyptic. One salesman stood up. 'I had a customer with a two-year-old Expedition. Crazily-enough, he wanted a new F-150. I tried everything, every trick in the book, and I couldn't put a deal together. And he was my BROTHER!' (Read: I was taking a loss, he was taking a loss, and the numbers were cutting us both so bad we couldn't deal). Another meeting, another dealer. 'I brought a year-old GMC Denali to auction. Priced it at rough wholesale book, minus seven grand. I was prepared to accept any offer up to 10 grand behind rough wholesale book. I was taking to take a tremendous beating to unload it. And it didn't sell. Didn't get an offer of any kind.' (Read: You can't give 'em away. Wait; you cannot PAY people to take them.) Now that the wealthy (who can afford the beating) and the quick-movers (who have already glutted the market) are in their Civics, Camrys and Accords; consumers in full-size trucks and SUVs are pretty much owners-for-life. And dealers, who must move new metal, can't do anything to help them. Not even if it's their brother."

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