The Collapse of the EV SPACs: Fisker Joins the Bankruptcy Party, Others on the Verge by Wolf Richter • Jun 19, 2024 • 107 Comments Consensual Hallucination drove that SPAC boom during the free-money era.
Used Car Wholesale Prices Continue Plunge, Gave up 59% of Pandemic Spike. But still up 35% from Jan 2020: EVs +72%, ICE Vehicles +34% by Wolf Richter • Jun 10, 2024 • 92 Comments Compact trucks +70% since Jan 2020; full-size pickups +39%, SUVs +30%, compact cars +20%. Auto insurance +44% since Jan 2022.
New-Vehicle Supply Turns to Glut for Many Brands. Automakers Roll out Incentives, but Not Nearly Enough by Wolf Richter • May 21, 2024 • 141 Comments Inventory gluts are resolved by lower prices that boost sales. But that part hasn’t started yet; the glut is still building.
Subprime Auto Loans Are Getting Messy by Wolf Richter • May 18, 2024 • 69 Comments Huge profits in subprime caused specialized dealers/lenders to take big risks, which came home to roost. But prime auto loans are in pristine shape
Used Car Prices Continue Historic Plunge, Wholesale Prices Gave up 59% of Crazy Pandemic Spike by Wolf Richter • May 7, 2024 • 99 Comments Even during tax refund season! Exactly what Americans need. But it’s not helpful for big fleets, such as Hertz.
Sagging Used-Car Prices, Spiking Maintenance & Repair Costs, and a Post-Bankruptcy Propaganda Coup Turn Toxic for Hertz by Wolf Richter • Apr 29, 2024 • 146 Comments Americans need lower car prices. But not Hertz. “The residual decline … was relative to both ICE vehicles and EVs”: Hertz
Gasoline Demand Has a Long-Term Structural Problem in the US: Plunging Per-Capita Consumption by Wolf Richter • Mar 7, 2024 • 215 Comments In 2023, gasoline consumption was where it had been 20 years ago, even as miles driven hit a record, on more efficient ICE vehicles and the shift to EVs.
Miles Driven Eke Out Record after Covid-Plunge: People Drive Less, but there Are More People by Wolf Richter • Feb 9, 2024 • 62 Comments But mass transit is still singing the remote-work blues. RTO not now?
Used-Vehicle Wholesale Prices Give Up 55% of Pandemic Spike: Historic Plunge after Crazy Spike by Wolf Richter • Feb 7, 2024 • 72 Comments But the plunge in retail prices of used cars and trucks hasn’t progressed nearly as much.
Auto Loan Balances, Subprime, Delinquencies, and Income: Who Are those Drunken Sailors? by Wolf Richter • Feb 6, 2024 • 98 Comments Subprime doesn’t mean “low income.” It means “bad credit” – and some is high income. And subprime loans are coming home to roost.
