I read a few months ago about covid creating a huge demand for used vehicles and other repairable items. With 40 million people out of work, half of which may not be able to return to their jobs because the jobs will no longer exist, they couldn't meet their car payments and thus had to buy used ones. I've been looking to get another vehicle, because of the age on my primary vehicle. I was leaning towards a small pick-up or a van. There were so few available in my price range and most needed significant work. And the two I did find, the people just stopped communicating (I used letgo.com and craigslist.com). So, the demand has already hit and now, according to this article, the prices are going up.
I read an article a couple years ago that predicted used gas vehicles would be in high demand, as people wait to transition to electric cars and avoid buying new gas vehicles. Mechanics will get a final shot in the arm with a huge upsurge in gas engine repairs from all the used vehicles. The vehicle market was waiting for electrics to come down in price and go up in range, and most important of all, produce pick up trucks. Seems we are seeing that prediction play out now as we transition to electric vehicles as the predominant mode of travel.
Replies
There already have been. https://www.bing.com/images/search?q=cars+sitting+unsold+image&...
Kim B said:
I wonder if there will be new vehicles that will be sitting on car lots for longer...
I read a few months ago about covid creating a huge demand for used vehicles and other repairable items. With 40 million people out of work, half of which may not be able to return to their jobs because the jobs will no longer exist, they couldn't meet their car payments and thus had to buy used ones. I've been looking to get another vehicle, because of the age on my primary vehicle. I was leaning towards a small pick-up or a van. There were so few available in my price range and most needed significant work. And the two I did find, the people just stopped communicating (I used letgo.com and craigslist.com). So, the demand has already hit and now, according to this article, the prices are going up.
I read an article a couple years ago that predicted used gas vehicles would be in high demand, as people wait to transition to electric cars and avoid buying new gas vehicles. Mechanics will get a final shot in the arm with a huge upsurge in gas engine repairs from all the used vehicles. The vehicle market was waiting for electrics to come down in price and go up in range, and most important of all, produce pick up trucks. Seems we are seeing that prediction play out now as we transition to electric vehicles as the predominant mode of travel.