"So Yesterday"
Chris Bryant, an Opinion author on Bloomberg wrote “The Rental Car Apocalypse Has a Terrible Sequel”
With new additions on the way for the month of September, as mentioned in last weeks news letter “The Current State”, I thought this would be a great time to address the current used car market for anyone looking to buy.
Chris Bryant, an Opinion author on Bloomberg wrote “The Rental Car Apocalypse Has a Terrible Sequel” which highlights pricing and demand, yet when cross referenced with the "Used Car Price Trends” on CarGurus, confirms his comments should certainly be taken with a grain of salt…
It’s kind of widespread now how the majority of manufacturers were affected by the shortages of automotive chips throughout the pandemic, and this has had a direct affect on the number of units Rental Car Companies are keeping in their possession.
It’s mentioned that in the past, Automakers have allocated roughly 7 - 12% of their production to companies like Enterprise and Avis, yet now only account for 4 - 7% which in the end is great news for small business owner’s like myself. With the decrease in supply, and increase in demand, it’s been reason for vehicles staying out on the road as they have.
Below is a chart highlighting how rates in different regions have increased drastically since pre-pandemic, which in all honesty is hand in hand with not only demand, but large corporation greed. If rates were proportional to the price increase, well you see where I’m going with this…
Of course being biased, but I feel this greed allows for Stealth’s competitive advantage since our rates are below market, and still provide the essential revenue per unit to allow for healthy growth. A breakdown of how the sedans, compact SUVs, and Premium SUVs perform in this market is something I’ll address in a later thread.
The most interesting aspect of Chris’s article is the date that it was published.
June 6, 2022. 6:30 AM EDT. Only three months ago today.
The used car market trend below, which is data taken from millions of listings throughout the US, shows that just over the past 90 days the used car market index has actually decreased & vehicles are no longer raising in price like they once were.
Yet, when glancing at the same 6 month chart from 2021, the increase in prices were drastic…
I honestly just wanted to use this week’s news letter as a second opinion for anyone looking to buy a used car but wasn’t sure of the current market… and if there is any manufacturers who are increasing in price, it may be correlated to other factors like the increase in gas prices over the past six months. Only confirming the efficient fuel economy in your Kia and Toyotas…
But even then, gas prices are reducing as well.
With all being said, its evident the used car market is leaning more toward the consumer’s favor.
Training
Week 13 Training Block completed as below:
Monday: Rest
Tuesday: LT Run 9 Miles with 5 miles at Lactic Threshold Pace
Wednesday: Med-Long Run 14 Miles
Thursday: Recovery 5 Miles
Friday: Med-Long Run 12 Miles
Saturday: Recovery 5 Miles
Sunday: Marathon-Pace Run 18 Miles with 10 Miles at Marathon pace (6:30 per mile)
Total: 63 Miles Week of August 22nd, 2022
Wednesday’s run is one that felt good so I opted into running till the constant pace was affected shortly after the 19th Mile. The heat was at its highest point and proper hydration hadn’t been applied, yet all I could hear in the back of my mind was David Goggin’s most recent reel, calling me a b*tch.
This had direct correlation to Sunday’s run since my glycogen capacity had already been depleted and would allow for as much stamina. The 10 Miles on the latter end didn’t happen. Simply over eager, with more indication on the importance of following the plan.