Not everyone is happy.
The SPAC boom will surely go down in history as one of the biggest stock-market heists ever, made possible by Consensual Hallucination.
They have to set residual values for three-year leases. And it’s risk off.
Americans got battered for years by huge price hikes, especially on trucks, amid oligopolistic pricing behavior by legacy automakers.
Incentives jump but still below normal. Average Transaction Price and Average Listing Price stuck at ridiculous levels.
In the free-money era, subprime auto lenders took huge risks amid seething demand from yield-chasing investors.
Gasoline sales have already been stagnating for years, interrupted by big drops in demand.
Fits with Tesla’s big price cuts, aimed at internal-combustion-engine vehicles.
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.
“Net losses and gross charge-offs were understated” – Oopsie?