Well also as part of the 08 recovery we scrapped a lot of the used car market to create demand for new vehicles.
The current crazy pricing is mostly due to supply that was cut off during covid -- those would all be prime used cars today -- but many were never made, so used car pricing is crazy -- and manufacturers have no incentive to create cheap new cars if buyers don't have other options.
But also the waves overlap so we’d still have about 700k cars in additional supply.
And even if they are still on the road they different enough in quality that they are not affecting the resale price of covid era cars. People do not cross shop 2021 cars with 60k miles with 1996 cars with 300k+ miles.