The average transaction price for new vehicles spikes to $41,000.
The explosion of demand that cannot be filled in the most monstrously overstimulated economy and markets ever.
Over-stimulated demand, tangled supply chains: shortages for some, plenty of supply for others.
Vacationing by car instead of going overseas, working from home instead of commuting, and to heck with mass transit.
Now it’s new vehicles, restaurants, energy. Game of Whac-A-Mole as some price spikes slow while others begin. But it’s a lot worse than it seems.
I’d say, prices at wholesale are still idiotic, but slightly less idiotic. Retail prices lag a month or two.
Frustrated by lack of choice and puffed-up prices, many customers walked.
Mass-forbearance is the best thing that ever happened to sweeping reality under the rug. But now, there’s a huge mess under the rug.
The explosion of per-vehicle gross profit shows why buying a car or truck now is nuts. But lots of people did though they didn’t need to: inflationary.
Defying economists’ expectations for sixth month in a row, inflation heats up instead of easing off. And it’s a lot worse than it seems.