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Used car supplies are lower now only because like everything else auto auctions have for the moment mostly come to a halt. The supply of used cars awaiting auct
by tssva 7y ago
Used car supplies are lower now only because like everything else auto auctions have for the moment mostly come to a halt. The supply of used cars awaiting auction is swelling from rental companies wanting to dump inventory and cars coming off lease. Once the auto auctions return to normal expect a significant drop in the price of used cars.
- MrFoof 7y ago>The supply of used cars awaiting auction is swelling from rental companies wanting to dump inventory and cars coming off lease Though some dealership are increasing their attempted shenanigans to keep those lease returns from coming back for as long as possible [1]. Some of the annual new car sales projections coming out in the past day or two are daunting, so it'll be interesting to see how it pans out. There's been a few estimates that the previously forecast 17M units for 2020 (with an ASP of ~$38,000) may be more like 7.7M units for 2020, which is a $350B industry revenue shortfall. [1] https://www.usatoday.com/story/money/2020/04/16/coronavirus-lease-car-returns-tough-lenders-refuse-accept-autos/5120328002/ https://www.usatoday.com/story/money/2020/04/16/coronavirus-...