I’m a wholesaler in Dallas , been in business for 11 years strictly in wholesale.
We supply cars to local dealers, since September we used to run 130 cars a week and now we barely running 80 , we went from selling 80% of inventory to 20%-30%.
Our volume went down, we can’t buy cars people owe way way way more than what their cars worth !
The car industry is really bad I haven’t seen it bad like this it’s even worse than 2019 where it was “slowest demand”.
I don’t know I see the stocks acting positively towards cars but in reality it’s really bad, I used to buy 25-30 cars a month since sep I only was able to buy 11 cars.
Dealer are holding to inventory refuse to take loss on them on a hope that someone will come and buy it.
People don’t have money , the free money is over and repo is all over the auctions , car theft is spiking up , fake titles ….. car market has been in recession since September.