Ryan Felton
speaker
131 appearances
3 recordings
1 series
first heard May 2022
last heard Nov 2024
Ryan Felton’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsNo recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.
Appearances
If you have the ability to go hunting, do it.
The dealers I spoke to, what they're seeing is that some buyers are choosing to sit on the sidelines and wait for prices to come down more.
Thanks for having me.
So during the pandemic, prices for pre-owned vehicles jumped about 45%, hitting an average of $29,969 at the end of last year.
And that was at a much, much faster clip than what was going on for new vehicles.
And that's according to the data research firm Edmunds.
It's due to many things.
There's the shortage of new vehicles that everyone knows about.
And that sort of has created this cascading effect of really just bad things for prices by pushing buyers into the used market at a faster clip.
And that has basically just put this large group of people competing for a really smaller number of cars.
I think, you know, one thing to kind of, I would stress is coming down is relative.
You know, we're talking about coming down from a high of nearly 30,000.
And as all the analysts I've spoken to, you're not going to see a decrease as fast as we saw an increase over the last year.
So it's somewhat more of like a leveling off.
And part of that is being driven, at least according to some used car retailers, because of just how high the prices have become.
Some major used car retailers like CarMax, another America's car mart, have cited affordability as being a driving factor, at least in part, for slowing demand.
The dealers I spoke to, what they're seeing is that some buyers are choosing to sit on the sidelines and wait for prices to come down more.
And that's due in part because prices on just about everything else are rising.
And so I think there's a lot of consumers who are just feeling squeezed.
Now, how much of a decline in used car prices are we actually talking about?
Showing 81–100 of 131 · page 5 of 7
← Previous
Next →