Carvana Shares Plunge to Record Low as Used-Car Prices Fall Fast

I'm not sure, but what goes up must come down..............
I have a Corvette friend that flips classic cars for a hobby. He says classic car prices are tanking. I see murdercycle prices are softening. Realestate prices in my area are either coming down, or not selling. Mostly not selling. Airplane prices seem to be getting soft. So I would expect to see the car prices of everyday rides to start coming down as well. Or maybe just not selling until everything else like wages and such catch up. Are RV/camper sales stagnate?

I work for the Federal Reserve. I see a lot of data. Can’t tell you specifics, but can tell you that we are past the inflection point.

Used car prices keep coming down to a more normal level but many models are still high (like the Rubicon, and even the FJs). We put a deposit down on the Rivian and it will be a little while but sometimes the V8 Rubicon tempts me.

RV/camper sales are slowing down too and I am watching for a diesel Winnebago Class C. I rethink 2023 will be a good year to buy.

Reading lots of problems with the Rivians.

I have not heard of too many yet and now know two people with them. They are phenomenal off-road. I'll watch for mechanical issues more carefully, though mine will prob not be ready till late 2023. I'll watch for issues carefully from now on.

Either way, we can't buy any more gas/diesel vehicles so fingers crossed. It would be great to get something that is a solid and comfy daily driver and does great off-road. I was initially targeting the V8 Hemi Rubicon (almost exactly the same price as my Rivian build) but just need to stay in the EV lane, especially since the R1S and R1T are so capable off-road.

So you guys are late again?

You guys created this problem increasing the money supply 40%, then took WAY too long being on the "transitory" bus when everyone and their grandmother knew inflation was not transitory....

I work as a Bank regulator, not on the FOMC side of the Fed. I agree, they whiffed on the transitory inflation view. What part of shutting down the economy (i.e. cutting supply) and paying people not to work (i.e. enhanced unemployment and stimulus) plus low rates and quantitative easing was not seen as inflationary?

Inventory building and prices are dropping here in automotive.

Houses still in la la land though.

in NZ second hand and really old vehicles have skyrocketed in the past 8 months. Even rubbish old cars car wreckers have to pay a really good price for them.

Haven't fallen much in NC that I can see. Ford is producing more trucks so those are going down. New prices are still stupid even without the dealer markup.

Im no expert, but I think they may rise again early next year depending on the economy....getting new inventory is still an issue...anecdotal evidence is I am currently trying to by a new work van for my company (chevy 2500 van) and it is going to be April before new allocations come out and I cannot even "order" a new one. My daughter is still trying to buy a new Sienna....same story, cant order one...just drop a deposit and they will let you know when they get something similar. Some dealers have told her a year wait, some say 3 to 6 months.

Housing will need unemployment stress to push prices down. Starting to see that in the SF Bay Area as tech starts to lay-off people (Twitter and Facebook).

Used prices for 4Runners still seem pretty high, but I'm not sure how well they are selling. Lots of info on youtube about wholesale prices for used vehicles coming down lately, but dealers and private sellers still asking high prices, hoping that people will still pay them.

I reserved a Rivian R1S almost a year ago and was waiting patiently for that - hoping for mid 2023 delivery, but recently they announced they are not delivering any in my area in the forseeable future, as they have no service center nearby and no real plans to have one. So I've been looking to buy a 4Runner for a couple weeks now. I had a 1990 4Runner for a few years in the late 90's and always regretted selling it. It was a great vehicle aside from the horrible gas mileage...

Initially I was looking at used 4Runners, but with sellers asking $38-40K+ for a 3-5 year old 4Runner with 50-80K+ miles, and not budging on price, I decided to buy new instead. After a bit of research and a couple test drives I settled on the TRD ORP trim with KDSS and a moonroof. Put in a deposit with one dealer last week and may put in another one this week to see if they can get it sooner, and as a hedge against any shenanigans they may try to pull at delivery.

Some dealers are still asking for a markup but many are not. My local dealer wants a $2k markup on a TRD ORP but after some back and forth they are now saying they'll waive it as I'm local. I'm also talking to dealers in CO and ABQ who are not doing markups on that trim level. They all seem to still be doing big markups on TRD Pro though.

Well, if economics were a science, that would be comforting.