The historic plunge in used vehicle retail prices from utterly absurd highs may have ended already.
Going to be tough for a recession to gain momentum with this kind of demand-overhang going into it.
Retail supply of used cars and trucks dropped for second month in a row. Dealers bid up prices to replenish their inventories.
Camry was dethroned as perennial #1 by Tesla Model Y & Model 3. And finally a little growth for electric utilities.
These price increases “were not typical” for January: Manheim auction house.
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.
Surge of delinquencies not caused by unemployment, but by taking Big Risks, hoping for Big Profits, and getting slapped, just as in 2019.
Cutting prices on dropping unit sales causes revenues to plunge.
Who got chips and who didn’t: Hyundai-Kia sales near all-time high in 2022, Honda’s sales collapsed.
Beyond the consensual hallucination, the real world for automakers is not fun.