Merry Christmas Eve, S3 family! It looks like us car enthusiasts might be getting the best gift of all this holiday season. Used car prices are finally dropping! High demand, low interest rates, low inventory, and stimulus checks have been inflating prices for long enough, and it looks like we have finally turned the corner. There are a few big indicators out there to confirm this. Dealership lots are slowly starting to fill up, banks are not giving out nearly as many loans, and Carvana and Carmax are both struggling mightily to sell cars. This is a massive problem for both companies, but Carvana seems to be getting hit hardest of all. It’s stock has now dropped down to a measly $4 per share. That is down about 98% from its high point 2 years ago…. It’s going to be tough sledding ahead for the foreseeable future.
@s3magazine Used car prices have peaked and are finally starting to fall. Also Carvana’s stock is an absolute dumpster fire. #carvana #carmax #news #automotivenews #stocks #usedcars
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