Stock market

The used car market is actually hot. I have a friend n NY that despite being closed for walk ins, they’re moving cars. Another good friend in Jacksonville is the GM if Audi Jacksonville and Orange park says their used cars are up over normal and the only thing keeping them alive. New cars sales have came to a stand still for them. So maybe it’s regional markets but from what I’ve heard, used cars are selling and lots of people with shit credit are buying too.

Edit: I should say, the used car market in some regions is hot
 
99JeepXJ said:
The used car market is actually hot. I have a friend n NY that despite being closed for walk ins, they’re moving cars. Another good friend in Jacksonville is the GM if Audi Jacksonville and Orange park says their used cars are up over normal and the only thing keeping them alive. New cars sales have came to a stand still for them. So maybe it’s regional markets but from what I’ve heard, used cars are selling and lots of people with shit credit are buying too.

Edit: I should say, the used car market in some regions is hot
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I would be interested in seeing how close to book value these places are selling their cars.

Many large dealers i know are selling cars at auction and retail for less than wholesale, just for cash flow and paying off floor plans.
 
junkxj said:
I would be interested in seeing how close to book value these places are selling their cars.

Many large dealers i know are selling cars at auction and retail for less than wholesale, just for cash flow and paying off floor plans.
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From what I’ve been told, with little reason to lie from their end, they’re selling at retail. I know this because I was in the market for an LJ Rubicon and asked them both to find one with certain criteria. Both said used cars in those years are selling retail at the auctions due to high demand. Anything 10-15 years old is prime for them
 
99JeepXJ said:
From what I’ve been told, with little reason to lie from their end, they’re selling at retail. I know this because I was in the market for an LJ Rubicon and asked them both to find one with certain criteria. Both said used cars in those years are selling retail at the auctions due to high demand. Anything 10-15 years old is prime for them
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I would say that the price of an lj rubicon at auction would not be a good indicator of overall car prices.

But I'm glad to hear that someone is selling cars right now!
 
junkxj said:
I would say that the price of an lj rubicon at auction would not be a good indicator of overall car prices.

But I'm glad to hear that someone is selling cars right now!
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That was my reference. Later in that sentence, I mentioned they said cars in that year range
 
Problem most people are doing is comparing to previous times and situations. This is unprecedented and whole the arguments have good merit, there are a lot of people who are doing just fine. In fact, majority of people I know are doing more than fine. Now I know that’s not the whole story but there are several markets that are actually thriving due to the virus. At home services, delivery services, communication services among several other have all increased significantly which will help offset those who are suffering. I’m no saying I know everything or am right, I don’t think we can compare the current economic situation to any other time. To many variables, previously and currently
 
I can't recall a time in my life where large portions of the business world have pretty much just shut down for a month (or two). When the big companies that normally absorb these waves are already talking about 20% pay cuts and 2 weeks time off without pay, it's because they are trying to float by on previous earnings long enough to stay solvent, and avoid as many losses as possible.
Heck, people are even PAYING people to take the May deliveries of oil.
U.S. oil benchmark crashes below $0 a barrel to mark historic plunge

Meanwhile, the grocery stores and home improvement stores are setting records.

Normal has been disrupted. And investors like stability.
 
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shawn said:
Also, we know now that states and countries who didn't lock down have had better outcomes generally than those that did. There's a strong argument to be made that schools should never have closed, because children and younger people (parents) tolerate the virus well, and would have quickly established a herd immunity.
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link?
 
jeepinmatt said:
Normal has been disrupted. And investors like stability.
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You know how we know it's really an abnormal time...

What's the other one thing that is certain, besides death?
Taxes.
And even THAT has been delayed by 3 months.
I mean, wtf reality is this? It's like the end of days.
 
rodney eppes said:
China, let the Virus get away from them & ran like a Wildfire. Taiwan did a Full shutdown at the first known case, & has only had 1 death!
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Actually they've had 6 deaths, but the point still stands.
 
I'm still waiting for the next big leg down to retest the March 23rd lows.
 
The idling of the U.S. economy has resulted in over 30M Americans filing for unemployment. First-quarter GDP contracted by 4.8%, and second-quarter GDP is expected to contract by more than 16%. The current recession was the result of the government's response to the rise in COVID-19 hospitalizations. In the near term, the path of the economy will remain correlated to the path of the virus. Continued reduction of cases and hospitalizations will result in fewer restrictions and increased economic activity. In contrast, a resurgence could result in the resumption of restrictions and a lengthening of the recession.

Dispersions of data and opinions continue regarding the virulence of COVID-19. This carries over into the economic forecasts. The current range of estimates for S&P 500 earnings ranges from $90 to $150. This would suggest a 2020 S&P 500 year-end range of 1800 to 3000.
 
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