Cox Automotive's Market Insights & Outlook 2022

[Weather Man]

The market cracked in July. It is already in free fall.

Wholesale Used-Vehicle Prices Continue Decline in First Half of September - Cox Automotive Inc.

Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.7% in the first 15 days of May compared to the full month of April. This brought the Manheim Used Vehicle Value Index to 222.7, which was up 9.7% from May 2021. The non-adjusted price change in the...

www.coxautoinc.com

I guess we see how bad of a recession we get.

 

[13COBRA]

The market cracked in July. It is already in free fall.

Wholesale Used-Vehicle Prices Continue Decline in First Half of September - Cox Automotive Inc.

Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.7% in the first 15 days of May compared to the full month of April. This brought the Manheim Used Vehicle Value Index to 222.7, which was up 9.7% from May 2021. The non-adjusted price change in the...

www.coxautoinc.com

Free fall? It has to come down some. Vehicles were up 130-160% YOY.

Now, they're still up 112-125%. Hardly a free fall.

 

[13COBRA]

Just for those keeping score...

The $5-10k vehicle market hasn't recovered from Cash For Clunkers yet.

 

[Klaus]

Free fall? It has to come down some. Vehicles were up 130-160% YOY.

Now, they're still up 112-125%. Hardly a free fall.

Used car prices fell more in the last 3 months than they rose in the 10 years from 2010 to 2021. The next 3 months will be far worse.

 

[13COBRA]

Used car prices fell more in the last 3 months than they rose in the 10 years from 2010 to 2021. The next 3 months will be far worse.

...but you realize they had to, right?

 

[Weather Man]

Just for those keeping score...

The $5-10k vehicle market hasn't recovered from Cash For Clunkers yet.

I've seen stuff on new car lots now that always got sent to auction before. I mean rusted up crap.

 

[Weather Man]

Used car prices fell more in the last 3 months than they rose in the 10 years from 2010 to 2021. The next 3 months will be far worse.

This is actually why I killed my truck order. All the downside risk on my trade value was on me. Now maybe I would still have been better off taking the truck I ordered at invoice and taking the hit trade value, but didn't like it hanging out there.

 

[Klaus]

...but you realize they had to, right?

Yes, which is why I describe it as a "free fall." If there is a better description of a step function decline I am all ears.

 

[13COBRA]

Yes, which is why I describe it as a "free fall." If there is a better description of a step function decline I am all ears.

Free fall implies no bottom and that it'll keep going. A swing back towards center is much more accurate to the actual situation.

 

[Weather Man]

Yes, which is why I describe it as a "free fall." If there is a better description of a step function decline I am all ears.

Freefall doesn't match the skimpy inventory on any new or used car lot in St Cloud Klaus. It's as bad or worse than it's ever been. Hell, there isn't a new Lariat F-150 on a Ford lot within 100 miles. When you call, they're all presold.

 

[Klaus]

Freefall doesn't match the skimpy inventory on any new or used car lot in St Cloud Klaus. It's as bad or worse than it's ever been. Hell, there isn't a new Lariat F-150 on a Ford lot within 100 miles. When you call, they're all presold.

 

[13COBRA]

Carvana will be worse.

 

[CompOrange04GT]

Carmax stock free falled

 

[Klaus]