The Car Market Collapse Nobody Thinks Possible Is Already Upon Us And It Is Worse Than You Think

The U.S. car market is collapsing before our very eyes, and used car prices just faced the biggest month-over-month drop on record as supplies went up while demand vanished. Auto sales are plunging so deep that some famous carmakers are already slashing prices by over $10,000! Meanwhile, lenders are in panic as millions of buyers see themselves underwater on their auto loans. The situation is chaotic and the outlook is alarming. The average used car price in America currently costs $29,533, down from the record high of $31,095 reached in April 2022, but still 45% higher than the 2019 average. Between 2020 and 2022, used car prices surged by almost 70%, and despite some sharp losses seen since December, there’s more downside ahead. Just as used car prices have spiked in an unprecedented manner, Americans should get ready for used car prices to drop by 50% to 60% from where they are today. The price crash is going to be significant – and quite painful for some motorists – but still, we