How has Carvana been doing over the past year? They focused on reducing the friction in buying/selling used cars, right? I wonder if they could have suffered from the supply crunch. Last I checked, 5-year-old Corollas were pushing $20k, and a new base model is about the same price. Anecdotally, I checked Carvana and local dealers when I was looking for a car recently, because I usually buy $5k beaters and drive them…
> I wonder if they could have suffered from the supply crunch. Last I checked, 5-year-old Corollas were pushing $20k, and a new base model is about the same price. There are no new base models available at dealerships and they're not expected any time soon. The list price hasn't caught up to the market conditions so they don't ship any base trim models. The higher trim models are available but dealerships charge 5-10…
For some incomprehensible reason people were buying the nearly-identical non-hybrid model for essentially the same price. It makes me think of the Bloom County cartoon: "Louise, dump the milk! The cat drinks unleaded from now on!"
Now, cars like mine, with 12K miles are being advertised for $30K, sometimes more.
In the meantime, my employer has just eliminated the health-based accommodations that let some people telecommute full time, just as we've got a solid month or so of rising covid cases and the governor setting policies tested positive.