Used car prices have been overinflated since Covid started. This isn’t anything new
Comment on Strikes against automakers spread to 38 locations in 20 states, Stellantis and GM are targeted
luckyhunter@lemmy.world 2 years ago
and used care prices are spiking again because of it. I personally bought a car for 12,000 about 7 years ago, put 80k on it in that time. I just transferred ownership of it to my business and it valued out at $10,000 now, 6 months ago it was $6,000.
sigmaklimgrindset@sopuli.xyz 2 years ago
luckyhunter@lemmy.world 2 years ago
They have, but they dipped pretty significantly last winter. Now it’s almost back up to the covid peak.
sadreality@kbin.social 2 years ago
speculators...
unless these strikes keep up for real, i doubt there will be enough impact to raise used car prices for real. i am sure koreans japs and germans will step right in. also, many of american cars are made in mexico lol
Mdotaut801@lemmy.world 2 years ago
A lot of bmws are made in South Carolina.
Ensign_Crab@lemmy.world 2 years ago
People who support strikebreaking are pretending to care. That’s new.
XbSuper@lemmy.world 2 years ago
Jesus the downvotes.
Why does lemmy hate discussion? It’s worse than fucking reddit. Smdh.
luckyhunter@lemmy.world 2 years ago
because pointing out the real world consequences to actions that people like is a no-no. right, wrong, or indifferent, the economy reacts to news.
Metanoia@lemmy.world 2 years ago
Manufacturers don’t make used cars.
Nemo@midwest.social 2 years ago
She means, people are expecting this strike to impact the availability of new cars, which is making used ones more valuable.
WindyRebel@lemmy.world 2 years ago
Ding ding ding.
Dealerships make money on used cars and parts/repairs. New cars are usually a loss for them
Mdotaut801@lemmy.world 2 years ago
No. The dealerships get kickbacks from the manufacturers and banks. They aren’t a loss lmao.
Metanoia@lemmy.world 2 years ago
There’s no way any effect move through the market this quickly.
Nemo@midwest.social 2 years ago
What do you mean “this quickly”? The strike has been coming for a long time.
luckyhunter@lemmy.world 2 years ago
someone made them. and if new ones aren’t rolling off the line people will buy used ones.
BolexForSoup@kbin.social 2 years ago
If there are fewer new cars, what are people going to buy...?