This makes sense when considering the pandemic and the changes in the work life of many Americans.
I think the pandemic made folks think twice about certain large purchases. Many folks have held on to used cars longer.
If you aren’t commuting to your office each weekday - it will lessen your need for a vehicle - and it should help to keep your used vehicle miles lower.
Sadly, it seems hoarding is becoming more common. It may be a result of the early pandemic shortages of toilet paper and anti bacterial products. The recent pipeline outage showed that folks will hoard gasoline - even though it isn’t a safe practice.
I hope folks become less inclined to hoard things as we begin to emerge from the pandemic.
The car thing is possibly a return to a more reasonable understanding of a vehicle’s worth. Leasing may have driven too many folks to get a new car every few years - and their old cars were still very nice.