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by klaff 6 days ago
They did become cheap for a very short time at the front of the pandemic. Specifically sales in the US hit a historic low in April of 2020, almost down to half the monthly volume a few months earlier and four or five months later. I remember this because a family member needed a new car and got a great deal. We were unsure if it was a good deal, because maybe things would get worse but they had a real need for a new vehicle so they did it and looking back were lucky to hit the low point. But your broader point is correct, that was a relatively short blip and arguably much of that missing consumption was just delayed until folks had confidence they would still be employed in the near future.