Tesla says rumors of its Chinese demise have been exaggerated. They report demand is still high, and no more price cuts are planned for this year. Efforts to drive demand by lowering prices and offering rebates are working for now.
There are less than 40 days left in the year tho so…
Carvana stock is somehow plunging again. With 97% of its value shed already for this year, the company is outpacing analyst abilities to correctly price the stock. If the company fails to reduce operating costs, predictions say it will be insolvent by 2024.
Fun Fact: Candles are a spooky and/or romantic way to reduce operating costs and have fun!
Crypto still exists. We just write about it less than we once did. Used car values were not high on the list of possible ripples from a crypto crash, but data suggests that exotic cars bought by crypto investors in the good times are showing up for sale more frequently. Of course, correlation is not causation, but even our friend CarDealershipGuy says he is seeing a significant increase in exotic inventory.
“Hey, can I borrow the dealer plates for a minute? I wanna go see my kids in the Lambo!”