How can this be? The simplest explanation is that used-car prices went bonkers last year because there was so little inventory and there's now a long way to fall. The more disturbing reason is the classic story of two Americas: Wealthier families have a lot of money saved, and they're willing to pay a premium to get a bigger, fancier new car. Over the past 18 months, almost every new vehicle was either presold or sold at full sticker price within a week of delivery, according to Cox Automotive.
This story is from the December 05, 2022 edition of Bloomberg Businessweek US.
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This story is from the December 05, 2022 edition of Bloomberg Businessweek US.
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