Quote:
Originally Posted by Wuiquen
I guess now that GM is saying they don't expect production to normalized until calendar year 2020, the current high prices will continue for the rest of these years and probably onto next year until the new inventory starts to flow.
I wonder how the 2022 prices will be compared to 2021. Will it be a lot higher based on current situation? I can see dealers marking up but the car companies? Even if dealers mark up, when those cars come back to the used market, i would assume the dealers will pay based on the MSRP and not the marked up price.
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The dealerships are not ever gonna put themselves in a position where they're gonna take a big loss. Maybe every now and then they might lose a small amount of money on a sale...but they'll just absorb that loss across several other sales. Especially if they are a large volume dealership. The fact that these companies are soo willing to pay this much this fast for these cars is a bit of a cause for concern if you ask me. They're not buying all these cars for $7K, $10K, etc more than what the values were a year ago for nothing. And for the most part, these cars are selling fast. It's not like they're sitting around.
Going on Car Gurus you could have bought a 17 ZL1 with around 20K miles for around mid $40K last year. A few times I even saw them dip into the high $30K range for examples with more severe miles (50K miles). But now even the high mileage ones are over $50K. And even the 5th Gen Zs are seeing a spike too.