I absolutely agree with this sentiment, directionally, but the “new car premium” in the US is really quite small - it takes way more than two years for cars to half in price, more like five years, and sixty thousand miles.

For example, a brand new Toyota sienna XLE is a little over fifty grand. Carvana have several 21-22 siennas XLE, 40-60k miles, most over forty grand. I do not understand this.