Will Car & Truck Prices Fall in 2023? | Cox Automotive Economist Charlie Chesbrough

Wealthion - Be Financially Resilient · Dec 15, 2022 · 41m

Car prices went bananas after COVID hit -- propelled by inventory shortages from disrupted supply chains & the unprecedented stimulus sent to businesses & households.

Now here in 2022, the boom may be ending. Used car prices which nearly doubled post-COVID, have fallen for much of this year -- though still remain much higher than their pre-pandemic lows.

Also, lax lending standards in extending auto loans during the recent boom are coming back to bite lenders -- the percentage of loans that are at least 60 days delinquent hit 1.65% in the third quarter, the highest rate for 60-day…