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September Was Not a Great Month for Used Car Shoppers

We’ve discussed the issues facing used vehicle buyers a fair bit in the recent past, but September data shows the market’s quickly rising prices did not cool off with the arrival of autumn. Wholesale used vehicle prices continued to climb, with the Manheim Used Vehicle Value Index reaching its highest point in history.

Breaking down the numbers, it appears used car shoppers with the least amount of money to spend are seeing the greatest increases in price. It’s a cruel world out there.

Steph Willems Oct 06, 2018

Recent Comments

Bkojote I'll offer some real consumer insights here based on product rather than low-iq political takes:[list=1][*]A lot of legacy automaker EV's are mostly transitional and expensive. There's little incentive to spend $70k on something that uses outmoded voltage architecture. So a lot of legacy automakers that rushed into the EV space are now realizing that nobody's going to finance a $70k vehicle good for 180 actual miles at 8% APR.[/*][*]Tesla has been crapping the bed on all fronts. See: Cybertruck.[/*][*]The charging network outside of Tesla has serious growing pains. Anything sold without NACS right now might as well by Hydrogen powered.[/*][*]Future EV products are already announced that are more in line with mainstream consumer demands. See: Rivian R3, Lucid Gravity, et. al. Any EV purchased now is going to be exponentially overshadowed by what's on the market in 24-36 months.[/*][*]PHEV vehicles simply make more sense for most people right now. It's why a Rav4 Prime is unobtanium as it offers the best of both worlds, allowing someone to commute on electricity but still take their vehicle on a road trip. [/*][/list=1]
Jeff Tesla should have never committed to the Cybertruck. A better choice would have been an inexpensive EV compact pickup which at 30k or below would sell.
AZFelix At felony level speeds the HOV lane transition from southbound SR 5 1 to eastbound I-10 in Phoenix mimics driving the curves, dip, and rise of Eau Rouge online.
Doug brockman Zero interest in EVs. Right now my Tundra with 38 gallon tank will roll about 500 miles before refueling which takes about five minutes.
Jpolicke They sold these with manual trans? Wow, this may be the only one left.

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September Was Not a Great Month for Used Car Shoppers

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