F1, November Inflation, Watch Heist
Max Verstappen First Win, Another Increase, High-end Watches Stolen
Max Verstappen Wins The F1 Championship
This year’s season champion came down to the last race of the season. With a tie in the standings, whoever finished above the other at Abu Dhabi would end up hoisting the F1 World Championship trophy.
It came down to the final lap of the race. Hamilton was in the lead on 40+ lap old tires, with Max coming up behind him on much fresher tires.
Max was able to overtake Lewis on the underside on one of the first turns of the lap. Lewis tried to take his position back soon after, but was not able to due to DRS not being ready.
While there was plenty of controversy in the race officiating - everything Hamilton argued eventually got thrown out and Max Verstappen was crowned the winner.
November Car Market Report
Another month, another CPI data report from bls.gov!
As I expected, It was not a good one. Seeing overall inflation move from 6.2% to 6.8%, I knew scrolling down I’d see a positive number under the New/Used car categories.
Used Cars
Let’s start with used cars. If you recall correctly, we saw a 2.5% month-over-month increase in the price paid for used cars. This month, we once again saw a 2.5% increase in the price consumers paid for used cars. This brings us to a 31.4% 12 month increase in used car prices.
Looking at the Manheim Used Car Index, dealers paid 3.9% more for their inventory than in October. So, unfortunately, like I predicted the last few months. I expect a positive number again this December.
In previous years we have typically seen consumers able to get deals towards the end of the year due to dealers paying taxes on what’s on their lot come January 1st. This year, I struggle to think that will be the case - dealers know they can get top dollar for their cars and it will be tough to negotiate them lower.
New Cars
New cars have been much of the same. Last month we saw them increase 1.4% month over month. This month we undercut that to 1.1%.
With chip shortages and shipping struggles continuing, this steady increase should continue.
Hopefully what is going on serves as fuel to move some manufacturing to the United States to remove our dependence on others and improve our supply chain.
Watch Heist
It’s been a pretty sad sight across the United States. Businesses that work so hard and help employ the country have been constantly taken advantage of by thieves raiding their stores.
This crime streak continued this past week in Chicago’s Bentley Gold Coast dealership.
As I’ve always said, the majority of car guys are also watch guys. This dealership has taken advantage of that by offering a selection of high-end watches in their dealership.
Unfortunately, nice things are tough to be had in the world these days. Thieves can be seen walking in the side door, busting open the case with a hammer, and making off with Richard Mille’s, Pateks, and Rolex’s, which can run from hundreds of thousands to over a million a piece.
Due to this, the dealership will be by appointment only. This is very sad due to the fact that growing up, stopping in exotic dealerships is what helped fuel my passion for cars.
We can only hope that there is some justice in this country eventually - but we definitely can not expect it at this point.