a few days ago, a friend was telling me that carvana called him out of the blue to buy his car. all i thought at the time was wow, they didn't learn anything. but then i thought well what would they know that i don't. here it is:
Prices of used cars, SUVs, pickup trucks, and vans that were sold at auctions across the US jumped by 2.8% in July from June, seasonally adjusted, the biggest jump since the surge in early 2023, according to today’s Used Vehicle Value Index by Manheim, the largest auto auction house in the US which runs about 8 million vehicles a year through its auction lanes. The index is adjusted for changes in mix and mileage (red in the chart).Not seasonally adjusted, wholesale prices rose by 0.6% in July from June, which is very unusual. Prices normally weaken in July after tax-refund season. During the eight years before the pandemic, prices fell on average by 0.8% in July from June. This July, they rose 0.6%.