Used Car Price Plunge “Could Bring The Whole House Of Cards Down”
by Tyler Durden
ZeroHedge.com
04/11/2016
When we first warned that something was breaking in the American auto market, the Phil-LeBeau-ians crawled out of the woodwork to explain how everything is still awesome (brushing the weakness in stocks) despite soaring inventories and shrinking credit. Then when used-car prices began to leak lower, a few paid attention and the recent weakness in new car sales has shocked most. Now, however, used-car-prices are plunging at a similar pace to 2008 and RBC wonders if declining used vehicle prices (biggest YoY since 2013) is the card that brings the whole house down.
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