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2021-12-27
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Used Cars Appreciating Faster Than Stock Market, Even Some Cryptocurrencies: Report
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There’s no peak at least as of now,” the report said, citing Bianco.</p>\n<p>In comparison,<b>Bitcoin</b>(CRYPTO:BTC) has risen 5% in the past four months, based on Thursday’s close, while the S&P is up 26% year-to-date.</p>\n<p>Used car prices reached an average of $27,569, a 27% increase from the same time last year, as per the report, citing <b>Kelley Blue Book</b>.</p>\n<p>Bianco noted that used cars are going to be more expensive as customers are still rushing to buy them as soon as inventory is available.</p>\n<p>“It has all the tell-tale signs of a bubble,” he warned, adding that used cars are self-depreciating assets and prices are not supposed to be so high.</p>\n<p><b>Why It Matters:</b>Prices of both used and new cars have surged to levels not seen in many years as chip shortages wreaked havoc on automakers across the globe.</p>\n<p>Key automakers such as <b>General Motors Co</b>,<b>Ford Motor Co</b>,<b>Tesla Inc</b> and others have all been struggling to wade through the global chip shortage for over a year now.</p>\n<p>The shortages started mid-2020 when demand suddenly sprung back after the pandemic induced lockdowns were lifted.</p>\n<p><b>AutoNation Inc</b>, the largest U.S. auto retailer, reported a record profit in October despite lower inventories and warned that dealer inventories are likely to remain tight well into 2022.</p>\n<p>For perspective, AutoNation had about 5,000 new vehicles in inventory at the end of September, compared with 56,000 a year ago.</p>\n<p><b>Price Action:</b>AutoNation shares have risen 65% so far this year. The stock closed 0.34% higher at $112 a share on Thursday.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Used Cars Appreciating Faster Than Stock Market, Even Some Cryptocurrencies: Report</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUsed Cars Appreciating Faster Than Stock Market, Even Some Cryptocurrencies: Report\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-12-27 14:16</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Used car prices are appreciating faster than the stock market and some cryptocurrencies, CNBCreportedon Sunday, according to market research firm <b>Bianco Research</b>’s President <b>Jim</b> <b>Bianco</b>.</p>\n<p><b>What Happened:</b>Used car prices have soared more than 20% in the past four months, Bianco said, citing the Manheim index of used car prices.</p>\n<p>The latest Manheim data shows a steep rise in prices for wholesale used vehicles even as vehicle inventories, which are already at a record low, stayed longer at dealerships.</p>\n<p>The Manheim Index shows the annual average for used car prices has soared 30% over 2020.</p>\n<p>“As of December 15, the latest set of data we’ve got, they’re just accelerating higher and higher right now. There’s no peak at least as of now,” the report said, citing Bianco.</p>\n<p>In comparison,<b>Bitcoin</b>(CRYPTO:BTC) has risen 5% in the past four months, based on Thursday’s close, while the S&P is up 26% year-to-date.</p>\n<p>Used car prices reached an average of $27,569, a 27% increase from the same time last year, as per the report, citing <b>Kelley Blue Book</b>.</p>\n<p>Bianco noted that used cars are going to be more expensive as customers are still rushing to buy them as soon as inventory is available.</p>\n<p>“It has all the tell-tale signs of a bubble,” he warned, adding that used cars are self-depreciating assets and prices are not supposed to be so high.</p>\n<p><b>Why It Matters:</b>Prices of both used and new cars have surged to levels not seen in many years as chip shortages wreaked havoc on automakers across the globe.</p>\n<p>Key automakers such as <b>General Motors Co</b>,<b>Ford Motor Co</b>,<b>Tesla Inc</b> and others have all been struggling to wade through the global chip shortage for over a year now.</p>\n<p>The shortages started mid-2020 when demand suddenly sprung back after the pandemic induced lockdowns were lifted.</p>\n<p><b>AutoNation Inc</b>, the largest U.S. auto retailer, reported a record profit in October despite lower inventories and warned that dealer inventories are likely to remain tight well into 2022.</p>\n<p>For perspective, AutoNation had about 5,000 new vehicles in inventory at the end of September, compared with 56,000 a year ago.</p>\n<p><b>Price Action:</b>AutoNation shares have risen 65% so far this year. The stock closed 0.34% higher at $112 a share on Thursday.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","GM":"通用汽车","AN":"车之国公司","F":"福特汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140131175","content_text":"Used car prices are appreciating faster than the stock market and some cryptocurrencies, CNBCreportedon Sunday, according to market research firm Bianco Research’s President Jim Bianco.\nWhat Happened:Used car prices have soared more than 20% in the past four months, Bianco said, citing the Manheim index of used car prices.\nThe latest Manheim data shows a steep rise in prices for wholesale used vehicles even as vehicle inventories, which are already at a record low, stayed longer at dealerships.\nThe Manheim Index shows the annual average for used car prices has soared 30% over 2020.\n“As of December 15, the latest set of data we’ve got, they’re just accelerating higher and higher right now. There’s no peak at least as of now,” the report said, citing Bianco.\nIn comparison,Bitcoin(CRYPTO:BTC) has risen 5% in the past four months, based on Thursday’s close, while the S&P is up 26% year-to-date.\nUsed car prices reached an average of $27,569, a 27% increase from the same time last year, as per the report, citing Kelley Blue Book.\nBianco noted that used cars are going to be more expensive as customers are still rushing to buy them as soon as inventory is available.\n“It has all the tell-tale signs of a bubble,” he warned, adding that used cars are self-depreciating assets and prices are not supposed to be so high.\nWhy It Matters:Prices of both used and new cars have surged to levels not seen in many years as chip shortages wreaked havoc on automakers across the globe.\nKey automakers such as General Motors Co,Ford Motor Co,Tesla Inc and others have all been struggling to wade through the global chip shortage for over a year now.\nThe shortages started mid-2020 when demand suddenly sprung back after the pandemic induced lockdowns were lifted.\nAutoNation Inc, the largest U.S. auto retailer, reported a record profit in October despite lower inventories and warned that dealer inventories are likely to remain tight well into 2022.\nFor perspective, AutoNation had about 5,000 new vehicles in inventory at the end of September, compared with 56,000 a year ago.\nPrice Action:AutoNation shares have risen 65% so far this year. The stock closed 0.34% higher at $112 a share on Thursday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":870,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/696078108"}
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