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> Because people have money, they want to buy cars That would be true if we were talking about new cars, but apparently the big rise is in used ones. That is l
by toyg 5y ago
> Because people have money, they want to buy cars
That would be true if we were talking about new cars, but apparently the big rise is in used ones. That is likely due to a combination of factors, with liquidity being only one of them - the others are scarcity from the supply side due to covid, and the sector trying to push a new technology (electric) on masses of conservative consumers.
- mym1990 5y agoElectric cars are hardly a 'new' technology. The rise in prices is predominantly because of a shortage of new cars which drives consumers to the used market.
- beerandt 5y ago>apparently the big rise is in used ones Only because there are practically no new ones. We've been trying to buy a new vehicle for over a year, with a family member owning a dealership, and still haven't been able to get one. Our last one, we ordered just before covid, and the 3 month order turned into 13 months. EV only comes into play because it made new car prices higher in order for companies to meet quotas dictated by CAFE standards, which also raises prices on the used market.
- jhickok 5y agoYep, our local Honda lot has functionally been sold out for 2 years. I've resigned myself to driving my current vehicles into dust.
- barake 5y agoCheck out sub-prime car loans. Carvana and the like will finance anything with a pulse, so people with poor credit buy used instead of new.