Used-vehicle shoppers are finding stubbornly high prices at the dealership lot—if they can find a car at all. Part of the problem traces back to the pandemic-era vehicle shortages. Three years ago, carmakers pulled way back on lease deals in favor of outright purchases, which generally are more profitable. Now there is a hangover effect: a shrinking pool of leased cars being turned in at the end of their terms, a main source of supply for used-car lots. The number of vehicles coming back to dealers with expiring three-year leases will drop 23% this year, to a decade low, according to Cox Automotive. It isn’t expected to bounce back until 2027, forecasts show. “It is a massive contraction of that key segment of vehicles that gets put into the used-car marketplace." https://www.wsj.com/business/autos/why-there-is-no-relief-ahead-for-high-used-car-prices-8d7617be?st=wyiw8g&reflink=desktopwebshare_permalink via @christopherotts