Tell us something we didn’t know. It is hitting the airwaves that more than just the auto industry knows prices on used cars are dropping. With public companies like Carmax and AutoNation reporting sales volume declines in Q3, the fourth quarter has been home to a steadily dropping used car pricing trend.
Cox Automotive reported that new vehicle availability topped 1.4 million, up from its 1 million mark for the majority of the year. This, along with steep interest rate hikes have contributed to slowing showroom traffic and lower used car prices in many places across the country.
TL; DR - Tesla says their Chinese sales are aok, and you should mind your business. Carvana should mind its business, but, like, in a ‘get things in order’ kinda way, and the used car business is seeing an influx of exotic cars as Crypto investors face a time “between prosperity.”