Why Cars Lose Their Value So Fast

>> YOUR LINK HERE: ___ http://youtube.com/watch?v=Ao7fbajRSKI

A car loses about 10% of its value as soon as it's driven off the lot. And within the first three years, that number goes up to 50%. Depreciation — the rate at which that happens — is one of those numbers everyone in the automotive world thinks about including consumers, automakers and the massive used car market, which made up somewhere around 35.2 million in 2022 — compared with 13.8 million new cars. But the Covid-19 pandemic turned the used car market upside down — constrained production and supply chain shortages sent prices skyrocketing, and increased for about two consecutive years, unprecedented for the industry. Those odd times have led to lasting changes, and industry insiders say it is likely to stay that way. • 01:22 - Intro: - Why cars depreciate so fast • 01:31 - Chapter 1: - How depreciation works • 05:16 - Chapter 2: - Down from there • 07:39 - Chapter 3: - Unprecedented times • 09:13 - Chapter 4: - Why cars are worth more today • Producer: Robert Ferris • Editor: Darren Geeter • Animation: Christina Locopo, Jason Reginato • Senior Managing Producer: Tala Hadavi • Additional footage: Getty Images • » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC • » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision • About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. • Connect with CNBC News Online • Get the latest news: https://www.cnbc.com/ • Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC • Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC • Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC • Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC • #CNBC • Why Cars Lose Their Value So Fast

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