Remember the Lithium Shortage & Huge Price Spike? In the Four Months since, Lithium Collapsed 70% amid Talk of Lithium Glut by Wolf Richter • Apr 29, 2023 • 152 Comments Fits with Tesla’s big price cuts, aimed at internal-combustion-engine vehicles.
I Love How Tesla Wreaks Havoc among Automakers with Massive Price Cuts, Huge Sales Growth, Even Huger Production Growth, and Overcapacity by Wolf Richter • Apr 22, 2023 • 317 Comments Shareholders hate it. It’s bitter medicine for the industry that pushed upscale and jacked up prices so average Americans can no longer buy new vehicles.
Second PE-Firm-Owned Subprime Auto Dealer & Lender Suddenly Shuts Down after its Subprime Auto-Loan Bonds Make a Huge Mess by Wolf Richter • Apr 18, 2023 • 127 Comments “Net losses and gross charge-offs were understated” – Oopsie?
Turning Point: CPI Used Vehicles Jumps for First Time since July “Not Seasonally Adjusted,” Tracks Wholesale Price Surge with Two-Month Lag by Wolf Richter • Apr 13, 2023 • 96 Comments The historic plunge in used vehicle retail prices from utterly absurd highs may have ended already.
New Vehicle Sales in Q1 Jump 11.7%. Inventories Build, But Still Less than Half of 2019. Pent-up Demand at 6 Million Vehicles by Wolf Richter • Apr 5, 2023 • 132 Comments Going to be tough for a recession to gain momentum with this kind of demand-overhang going into it.
Used-Vehicle Auction Prices Jump for Third Month, after Last Year’s Plunge. More Trouble Brewing for “Core” CPI by Wolf Richter • Mar 7, 2023 • 82 Comments Retail supply of used cars and trucks dropped for second month in a row. Dealers bid up prices to replenish their inventories.
EV Sales Spiked in California. Share Hit 17%. ICE Vehicle Sales Plunged. First Uptick in Electricity Sales after 13 Years of Decline by Wolf Richter • Feb 10, 2023 • 1 Comment Camry was dethroned as perennial #1 by Tesla Model Y & Model 3. And finally a little growth for electric utilities.
Used-Vehicle Auction Prices Rise Again on Strong Retail Sales, after 2022 Plunge. Buyers’ Strike Over? “Core” Inflation at Risk by Wolf Richter • Feb 7, 2023 • 104 Comments These price increases “were not typical” for January: Manheim auction house.
EV Competition Finally Produces Results: Ford Cuts Prices on Mustang Mach-E, after Tesla, Kia, Hyundai, Chevrolet, Nissan Cut Prices on their EVs by Wolf Richter • Jan 30, 2023 • 93 Comments EVs now start at $27,000, about $20,000 below the average new-vehicle transaction price. That’s a good thing all around. Except for stock prices.
Subprime Auto-Loan Delinquencies Rise to 2019 Levels: a Dive into Subprime Lending and Securitizations by Wolf Richter • Jan 23, 2023 • 67 Comments Surge of delinquencies not caused by unemployment, but by taking Big Risks, hoping for Big Profits, and getting slapped, just as in 2019.