In the bizarre machinery of an economy that depends on consumer spending funded by stimulus and “extend and pretend.”
After spiking for months, used-vehicle wholesale prices turned south in late August, wholesale volume plunged again.
Four Days of Free-Fall Mania. Dream goes up in smoke. Passed over by Etsy, Teradyne, and Catalent.
I’m in awe of how a tiny automaker with less than 1% global market share is a Supernatural Phenomenon and the 7th most valuable US stock.
And how did the pros at CarMax do in the Crisis?
Tesla’s share of the EV market plunged to 8.7% year-to-date, from 18.4% last year. Competition is now huge and across the spectrum. Tesla faces the same situation globally.
All kinds of weird records are being broken. But it’s scheduled to expire, and then what?
For automakers, this was a tough market before the Pandemic: decades of stagnation in unit sales, carved up by more competitors, with industry revenue growth by jacking up prices. Then came the Pandemic.
The time for deals on new vehicles has arrived.
Hahahaha, that should have been the universal headline.