The market is “correcting” it hasn’t fully corrected yet.
When idiotic companies like Carvana are gone and no longer grossly overpaying for used cars because their “algorithms” tell them paying more for a used car than a new car is smart... that’s when sanity will start to return.
It’s getting better, but the whole auto market has not fully corrected from the insanity of the past several years yet.
Here’s all the cars that Carvana has stacked up just east of Indianapolis...
https://www.google.com/maps/@39.8225152,-85.9206277,1401m/data=!3m1!1e3
Zoom in for full effect!