Taking Carmax as an example: They are having a $75,000,000 write down on inventory. Car loans are starting to hit 9%-11% interest rates.
Delinquencies are ramping up (90+ days).
Looking at Manheim they conclude "Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 2.0% from September in the first 15 days of October. The Manheim Used Vehicle Value Index fell to 200.5, which was down 10.3% from October 2021. The non-adjusted price change in the first half of October was a decline of 1.8% compared to September, moving the unadjusted average price down 9.0% year over year. "
It's also why my title is asking for input from any members here in the industry and what they are seeing.