New Vehicle Inventory Dips, Near Record Low. Fuel-Efficient Cars Vanish. But Supply of Full-size Pickups & SUVs Rises, Discounting Sets in to Move the Iron by Wolf Richter • Aug 13, 2022 • 193 Comments Average prices jump relentlessly from record to record.
Mopping up Mess from SPAC Mania: After Imploding, Shift Technologies (-92%) and CarLotz (-95%) Merge into One Zombie to Burn Remaining Cash Together by Wolf Richter • Aug 12, 2022 • 109 Comments Charts of stocks like these – hundreds of them now – are an indictment of the mania in 2020 & 2021. We’ll be shaking our heads for years.
Nope, Auto-Loan Delinquencies and Repos Are Not “Exploding”: They Rose from Record Lows and Are Still Historically Low by Wolf Richter • Aug 2, 2022 • 68 Comments The balance of loans & leases outstanding rose on much higher vehicle prices but much lower sales volume.
SPAC Zombie Mergers: Nikola, Whose Shares Collapsed 92%, Buys Battery-Pack Maker Romeo whose Shares Collapsed 98% by Wolf Richter • Aug 1, 2022 • 94 Comments Romeo, battery-pack supplier to Nikola, reached the end of its runway. Nikola, which reported $0 revenues from truck sales, is desperately trying to raise cash.
New Vehicle Inventory Stuck Near Record Low, Shortages Shift to Fuel-Efficient Cars, Prices Hit Record. But Used Vehicle Price Spike Runs out of Fuel amid Plenty of Supply by Wolf Richter • Jul 16, 2022 • 141 Comments Still the strangest auto market ever.
Large-scale Gasoline Demand Destruction Hits Sky-High Prices in Peak Driving Season: Gasoline Consumption Drops to July 1999 Level by Wolf Richter • Jul 14, 2022 • 189 Comments Some demand destruction is behavioral and may bounce back; some is structural, growing, and long term: The decline of an industry.
New Vehicle Sales in June 2022 Plunged 25% from June 2019, Back to 1970s Levels, on Inventory Shortages by Wolf Richter • Jul 5, 2022 • 110 Comments Pent-up demand in time for the recession when supply might finally rise enough? This messed-up economy will continue to dish up surprises.
Average Transaction Price for New Vehicles Hits Record $45,844 in June, as Consumer Still Pay No-Matter-What, amid Inventory Shortages, Record Per-Unit Gross Profits at Dealers by Wolf Richter • Jun 26, 2022 • 229 Comments And despite the surge in interest rates for auto loans.
Here’s Where the Inventory Shortages Are, and Where Retailers Are Overstocked, by Retailer Category by Wolf Richter • Jun 22, 2022 • 132 Comments It’s still supply-chain chaos for retailers, but different retailers face different kinds of chaos.
New Vehicle Inventory, Stuck Near Record Lows, Gets Worse as Buyers Shift from Trucks to Economical Cars, which Vanish by Wolf Richter • Jun 17, 2022 • 215 Comments Average price jumps by $5,000 from year ago, to $45,495.