He had me at “lumpy tackle”No idea whether to give you a happy faceor a sad face
Are you saying some bits in Welsh?
FIFY.
As long as the queues are full and the allocations are low, they can afford to. On the trade-in side, a lot of dealers (at least over here) overpaid to acquire used stock, and are now staring at selling low - if they are even selling. Since it's a game of averages, they are low-balling on trade-ins to make up for the losses "acquired" previously.
Based on what data? Unemployment in the US is lower now than during the used-car-market boom.
I didn't think you'd take my comment seriously, but since you asked - the very document you shared says unemployment rate increased by .2%, and that the number of unemployed persons grew by 300k-odd.
I never said unemployment didn't rise, only that it is still lower than during the used-car market peak. I also didn't say that satiation was the sole reason, only that most people who postponed buying a car they would have normally bought during COVID, have caught up with their needs - which was one of the reasons (again, not the only reason) for the car market boom. I did however skip over the reason you mentioned - people being more cautions with the economy showing signs of possible recession next year. While I think this is a factor which has some impact, IMO it's still small (if interest rates on cars were still ultra low, more people would be buying them all else being equal).
Well, ok, I interpreted your original comment as saying the used car market exploded because of needs, and I plainly disagree with that. IMO it was supply chain/production stoppages, WFH/relocation, a surplus of cash, boredom, needs and possibly others. We seem to be in vehement agreement that it's always about the supply/demand balance, which has swung violently in both directions over the past 2-3 years.
To quote your other post, are they listing or selling? ;-) But very likely - and back to OP's topic, I suspect the demographic constituting Taycan buyers might be feeling the pinch more than others: not in the "can't afford" sense, but in the "perhaps not a good time" one. Finance and IT (which I assume make a sizeable part of that demographic) are encountering the strongest headwinds.
My observation was made based on (automated) trade-in quotes.
Remember that Taycan demographic includes the Tesla demographic overlap which consists of tech workers whose compensation is often tied to stocks. The same stocks they might have been planning to use to buy a Taycan in 2021 will no longer cover car. This same demographic often stretches to buy cool tech cars, so if the monthly payment now went up by $500, it really does make it unaffordable to them, especially if they happen to have a rising mortgage payment because they chose variable rate. I got a glimpse of the breakdown of Taycan demographic in a Porsche organized Taycan "clinic" for new and upcoming owners. about 60% older guys (55+) who kept talking about all their other Porsches they have or had, and 40% tech workers ~40 who never had a Porsche before, most have had Tesla(s).
I'm in neither, so no wonder I did not merit an invitation.
