One data point, vroom offered 31k on my car last month, then $33k two weeks later, yesterday they upped the offer to $36k.
vroom hit $25.10
Should have waited to sell my car
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What car was that?
This still feels like it was just a summer pause and used car prices are about to soar again.
New cars are even more difficult to get now than they were before, not sure why the used car market would go down until the new car issue is fixed.
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I have yet to sell my 19 Tundra (waiting on title) but it’s value on vroom has tanked since June. It was over 49k then now it’s 43k. Hoping that with the recent Toyota news, it goes back up.
Tacoma and tundra production lines are the only ones not halted. At least that’s what I read.
BMW i3 REX
vroom down 37.63% this month
carvana up 6.74%
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I did not know this existed, but I am shocked that Robert Mugabe had the restraint to NOT put his own photo on 100T bill.
With all deference to Jay Powell’s walking Ambien coma: I listened to a fascinating/terrifying couple interviews that discussed how the Fed has 0 working models for inflation (many exists, all invalidated).
A fine addition to my ongoing terror that the Fed changed the mechanism years ago to fill/drain the money supply, while the pool was already full, and the new drain has only been tested in simulations.
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Who cares about fed when administration helicopters money at a rate of couple of trillions per quarter?
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I’m sure when you typed that out it made sense to you, but 😵💫
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I keep seeing accords going for $400-$500/month and everything else is just so inflated. Will 2022 production lower prices again? What do you guys think will happen by the end of this year and/or early next year? Trying to lease a car myself but most definitely not in this market right now lol.
Never. The pendulum will swing back but never as far as it was. Manufacturers will lessen production, cut staff and change expectations. They will continue to drive for more profit and the deals will never be as good as they were pre-Covid
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Not until money printing stops.
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Never is a strong word.
Funny thing about capitalism is that it only takes 1 manufacturer to break from the ranks.
Manufacturers can’t raise MSRP beyond a certain amount or not provide incentives to avoid being priced out of their segment & to maximize profits they’ll have to sell “x” amount of cars or else there always someone else ready to drop the prices/provide incentives to capture their customer. i.e - many manufacturers still providing conquest & loyalty incentives (be it small).
Manufacturers make $$ when they sell new cars so they have to eventually start capturing market share from others.
Right now all manufacturers are somewhat facing the same constraints so it’s easier to not get into incentive & price wars but once things return to normal (it’s a matter of when not if & no one can tell you when that is) …
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When Susan Dushane began searching for a new car a few months back, she had no idea just how far she’d have to go looking. She and her son, Mike, contacted every Kia dealer within 200 miles of her home in Tampa, Florida, before they found the one they wanted — and paid $6,000 over sticker for her new Telluride SUV.
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the new “and all other crystal ball questions” addendum to the thread title is LOL funny…
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