I stand here today as witness to a perfect storm that could make a 50% reduction in used car values a very real possibility. I have already witnessed signs that the truck and SUV market have corrected. The manufacturer’s’ incentive response to a growing day-supply problem along with the supercharged discounting effect of more dealers fighting over fewer sales is the equivalent of dropping the MOAB on used car value.
For the full story visit zerohedge.com