Supply constraints on used?
I’m thinking demand and that the increased price is making people buy less.
Ex : Price up 25%
Sales down 10%
Profit 15%???
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Exactly. Manheim’s inflow comes from dealers wholesaling inventory they no longer want on their lot, lease returns from various lessors, rental cars that have been retired from service, etc.
So you have lines of people at dealers willing to pay whatever but too little selection at the auctions for their dealer’s buyers to choose from.
So the dealers bid up what’s there so they have something to feed the masses who don’t seem to care what anything costs.
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Demand should be down. The price delta between retail late model used car prices and retail new prices is almost zero. Some people need a new car right away and if the one you want isn’t available new on the lot……then maybe you have to buy used if you aren’t flexible on models/trims
But if you know your car is coming off lease/your vehicle is otherwise still operational buying used just makes no sense. It is not hard to find a dealers will let you order many vehicles at MSRP or sell you less popular models (sedans) at around MSRP. It just defies belief at how it appears these used car operations are selling 1-3 year old unremarkable vehicles like Corrollas, Jettas and CRVs for more than their new MSRP.
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“Peak insanity” is live and well. I just signed a single pay lease on a Tacoma on Oct 4 for $6,750.
Just received an offer for $10,400 over buyout.
So +$3,650 in 35 days.
Likely selling and doing a one-pay on a 4xe through the group
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Has anyone tossed their VIN into CarFax and actually been able to get any dealer to match the quote CarFax spit out (CarFAX, not CarMAX). I tossed in my 6 month old Model 3 SR+ (only option white seats, no FSD) with 7.5k miles, and for an “excellent” condition car, they gave me a $51k trade-in quote (“Good” condition $49k, “Fair” condition $47k). I feel like the CarFax quote is completely out to lunch.
Carfax isn’t a car buyer, they just farm out your price to buyers who will definitely try to lowball it.
But the cute little fox in the commercial is so lovable…
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OMG WTF. SR+ 3 and no FSD from what I can tell. Blue paint seems to be the only $$$ option.
Listed for $53k.
https://www.carmax.com/car/21603184
Jokes on me, my G30 is still flipped. We won’t be in peak insanity until I have positive equity.
Will just stick it here
https://www.wsj.com/articles/u-s-auto-safety-regulator-pays-24-3-million-to-hyundai-whistleblower-in-first-ever-award-11636478432
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Paywall can’t read.
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No paywall version from Reuters.
Kim reported to NHTSA in 2016 that Hyundai was failing to address a design flaw linked to its Theta II engines, which were prone to seizing up and even catching fire.
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Got this offer yesterday. Before tax I paid $24,000 for this car a two weeks ago. I have no idea what’s going on. I purchased this car off the lot with relatively little effort and probably even left a few bucks on the table.
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The problem is, until they start going personally after people making those decisions, those fines are just cost of doing business.
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I wouldn’t have bought I Hyundai back then. They have improved exponentially.
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Just saw 2(!) today within minutes. At Costco 
Carvana offered me 55k for my Kia Telluride that I bought for 46k half a year ago.
Total insanity.
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