Used-Car Prices Collapse Most On Record
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Used-Car Prices Collapse Most On Record
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- fight club, anyone?zero hedge has about the same credibility as stansberry research.
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This is only the beginning of the "correction" - which I presume will eventually shift to a collapse. With the recent Carvana situation - this will flood the market with used cars through a fire sale (if they file for Chapter 7) or if they go through Chapter 11, then they will be forced to sell many vehicles at deep discounts, which would force other companies to meet those prices to be competitive. That will eventually bring the prices back down to pre-pandemic levels. My 2 cents.....
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This is only the beginning of the "correction" - which I presume will eventually shift to a collapse. With the recent Carvana situation - this will flood the market with used cars through a fire sale (if they file for Chapter 7) or if they go through Chapter 11, then they will be forced to sell many vehicles at deep discounts, which would force other companies to meet those prices to be competitive. That will eventually bring the prices back down to pre-pandemic levels. My 2 cents.....
Our local luxury dealers here have almost zero new vehicles for sale—the Lexus dealer has used American pickup trucks littering their lots.
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This is only the beginning of the "correction" - which I presume will eventually shift to a collapse. With the recent Carvana situation - this will flood the market with used cars through a fire sale (if they file for Chapter 7) or if they go through Chapter 11, then they will be forced to sell many vehicles at deep discounts, which would force other companies to meet those prices to be competitive. That will eventually bring the prices back down to pre-pandemic levels. My 2 cents.....
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