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TopicThe used car market is increasingly inaccessible for low income people.
KaZooo
07/05/22 1:53:48 AM
#38:


SwiggitySwoogit posted...
Gonna drive my 2007 Honda CRV with 170k miles into the ground. Hopefully the market is better by then.

In my far-out thinking, I can see the following happening:
Manufacturer/New Cars Dealerships are more and more going to be order basis only, and lot vehicles will carry a premium as there will be relatively less. We are getting closer and closer to an EV transition, so the run of current ICE models will probably be more controlled as to not exceed demand, even though it's really high right now.
This will be able to allow dealerships to downsize and/or repurpose. I can even imagine home delivery becoming more common place.
Carmax/Carvana/Shift/Beepi, etc are going to continue to grow as a mainstream, trying to weed out the smaller private used car dealerships
I would expect used car values drop down, or at least stop climbing. Part of it is because of how demand may possibly level out, but also the possible sooner obsolesce of certain vehicles by technology and laws.
Ideally there will be a stronger recycling plan, albeit a long ways away. Metals and such are finite. As much as we think the "chip shortage" is a matter or reopening and adding manufacturing plants and shipping portals, it's simple logic that the amount of materials we have now is less than in the past. Stuff doesn't grow on trees.
Values will still also be driven by shipping politics and fuel issues. I personally don't see said issues just magically going away despite us seeing gas dip here and there.

it won't be so much that the accessibility to automobiles has a doomed fate. It's just that ownership culture in the US is going to shift a bit more towards how it is in other countries. We've had it so good. Owning a car (or at least leasing/financing one) is far easier than in many places, and we've been able to pick and choose inside of whatever tier we shop in.

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