I think it's more on the new cars. I know "never buy a new car" but I do b/c I keep them forever (I'm literally driving a 2009 right now). And I like the warranties.I only skimmed his post but it appears silly going by profit of a single car. My buddy owns a used car dealership. He's paying more for cars (at auction and elsewhere) and having a hard time getting inventory. So while he's charging more per car he's selling fewer cars because he can't get the inventory
New car markups are straight up greed/profiteering. Call it supply/demand or whatever but they are profiting like crazy on new cars. Def right on used cars b/c they have to buy them (or get them through trade) and the prices there are just plain stupid. Values at auction have increased something like 40% YOY. It's insane. And supply is f*cked b/c cars aren't being repossessed or traded in.