*Update* Used Car Market Stalemate, but Wranglers resale prices.. 🤑

Scott.B

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Even if the data source is accurate (and I’m skeptical any time a sudden deviation like that appears) that’s the Jeep brand, not Wranglers necessarily.

Then click on Jeep and you will see what is driving it. Wrangler alone.
 

The Last Cowboy

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I know I-90. What is a d-90...?
Defender 90. A ruggedly styled unibody crossover with 4 wheel independent suspension. The Defender 110 is the 4 door version.

1663689541519.png
 

Jim1964

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Then click on Jeep and you will see what is driving it. Wrangler alone.
Drill into that, and it shows the biggest rise is 2022 Wrangler. Which, if true, and not some aberration in the source data, indicates an increase in people getting OUT of late models. These are, after all, used car sales.

I don’t see anything to cheer about or anything surprising if the sales of used late models spike, or that they increase the average transaction price. Considering the average sale is < 30k$.

FWIW I hope it’s true, because maybe I’ll upgrade. But I’m skeptical about any sudden deviation like this.
 


Scott.B

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Drill into that, and it shows the biggest rise is 2022 Wrangler. Which, if true, and not some aberration in the source data, indicates an increase in people getting OUT of late models. These are, after all, used car sales.

I don’t see anything to cheer about or anything surprising if the sales of used late models spike, or that they increase the average transaction price. Considering the average sale is < 30k$.

FWIW I hope it’s true, because maybe I’ll upgrade. But I’m skeptical about any sudden deviation like this.
Yeah not sure. Is crazy world few months ago I got 5000 more for my 2020 than I paid new. Not sure if that market still exist are not. They probably sold it for several more thousand than they gave me for it.

As for Wranglers in general they have always held strong resale value.
 
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Yeah not sure. Is crazy world few months ago I got 5000 more for my 2020 than I paid new. Not sure if that market still exist are not. They probably sold it for several more thousand than they gave me for it.

As for Wranglers in general they have always held strong resale value.
Yes, I agree. Many of the attributes people here have mentioned, are indeed true, and generally, would signify a good YoY for Wranglers.

My question is more aimed to the general market, as it seems the used car market may be hitting the top plateau, and 90 days usually can be seen as a signifying event of a decline, especially if followed by a 30 day decline as well.

Unlike the entire market, Jeep Wrangler solely is far ahead, at 6+%. So I'm curious to that effect.
I presume, that unlike some brands with a very large lineup, Wrangler has brought up the entire Jeep brand with a somewhat lesser lineup of vehicles. Making less averaging numbers to bring down the overall Jeep growth, so as a brand, helps factor higher 30 & 90 day gains, as well as year over year. As alluded, the other factors everyone mentioned have mentioned in all these figures, but I am still curious to someone familiar with statistics and what they draw up as the reasons.
 

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Covid and social media caused a huge uptick in people going outside. Jeeps sales/values are a direct result of all of it. National parks and similar places have become so crowded you now have to obtain a reservation to go. During these trips people are renting Jeeps and going on Jeep tours or going off-roading with their friend who owns a Jeep and posting about all the fun they’re having. Next thing you know … those people are buying a Jeep and then their friends want to buy a Jeep. Not to mention all the people that want to be just like the people on social media. It’s not rocket science.
 

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Yes, I agree. Many of the attributes people here have mentioned, are indeed true, and generally, would signify a good YoY for Wranglers.

My question is more aimed to the general market, as it seems the used car market may be hitting the top plateau, and 90 days usually can be seen as a signifying event of a decline, especially if followed by a 30 day decline as well.

Unlike the entire market, Jeep Wrangler solely is far ahead, at 6+%. So I'm curious to that effect.
I presume, that unlike some brands with a very large lineup, Wrangler has brought up the entire Jeep brand with a somewhat lesser lineup of vehicles. Making less averaging numbers to bring down the overall Jeep growth, so as a brand, helps factor higher 30 & 90 day gains, as well as year over year. As alluded, the other factors everyone mentioned have mentioned in all these figures, but I am still curious to someone familiar with statistics and what they draw up as the reasons.
Eventually even Wrangler used car prices will feel the gravitational pull of recession.

https://www.businessinsider.com/use...lerships-inflation-cooling-trucks-suvs-2022-9
 


The Last Cowboy

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I believe that the used market is over saturated and over bought. The next 3 months will be telling. Used lots are either full everywhere or completely empty. I've seen some bare lots and it makes me think that they went belly up and all the cars went to auction. Second chance/buy here pay here lots will be fully stocked though.

New inventory is actually starting to fill in at dealers, where there was none before. You can actually find Wranglers in inventory right now, whereas six months ago there were none or hardly any.

And just as a rising tide floats all boats, a falling tide grounds some. The Wrangler will surely lose value as the market receeds, but it will still be at or near the top in terms of value percentage retention.

Cheap money (low interest rates) kept the party going, even when prices soared. Now those monthly payment shoppers are getting priced out of the market. There has to be adjustments made to keep the revenue flow going so that the auto manufacturers can keep the doors open through the deepening recession.
 

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Defender 90.

1663689541519.png
Mm. All those gentle angles in the bodywork. It might as well say Fisher-Price on the hood.

Fingers crossed that the eventual JM/JMU Wrangler isn't aesthetically neutered in a similar manner.
 

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So they want an Audi A5?
Didn’t even know that had AWD. But no, they want a 4WD because they either want to
1). Bring it on the beach or
2). Want the practicality of 4WD because they live in the snow belt
This is assuming they’re not getting into a Jeep to do off road things.

Mm. All those gentle angles in the bodywork. It might as well say Fisher-Price on the hood.
Bit of an insult to Fisher Price, don’t you think? They’ve built some sweet vehicles back in the day. My son’s kindergarten class has a FP Garage with a small Willy’s Jeep lookalike. We were both pretty pumped about it at his orientation. :LOL:
 

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Defender 90. A ruggedly styled unibody crossover with 4 wheel independent suspension. The Defender 110 is the 4 door version.

1663689541519.png
Oh, yeah well, but that’s Land Rover for yah: Land Rover buyers are made of money.

A couple years ago TFL paid $5,000 for a dealer-installed winch on their new Defender. The Land Rover dealer Manager then showed up in a lifted Defender: he had his dealer subsidize the parts and labor and still cost him $14,000 just to be able to fit 35s.

The really sad part is that 10 years ago Sergio Marchionne directed Jeep to follow the Land Rover business model.
 

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TL;DR: People want a cool convertible that also has 4wd.
That's it, right there. It has nothing to do with actual capability or utility. Image and practicality is the primary driver of the sales of the Wrangler. "It's gone viral" so to speak. When we bought ours, my wife wanted yellow because she never saw yellow wranglers. There were two other JLs in our group of 5 sub-divisions at the time - one "punkin" and one granite. Now, there are SEVEN YELLOW JLs just in that same area. We're talking about maybe 8 square miles of suburban development. As for JLs of all colors? Dunno...gotta be at least 40. But the important thing to note - it's glaringly obvious that not a single one of these vehicles ever touches a rock. These things will see dirt maybe twice in their lifetimes. Nothing to do with capability...everything to do with image and practicality.

It's ridiculous that in a state with one off-road park and a max vertical of 1200ft, you'll pass 2 JL's on every highway mile you drive.

 

Quadratec
 
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