The auto industry — already fretting lengthy factory shutdowns and depressed new-vehicle demand — is starting to sound the alarm about a potential used-car price collapse that could have far-reaching consequences for manufacturers, lenders and rental companies.
— Read on www.bloomberg.com/news/articles/2020-04-13/fear-of-an-impending-car-price-collapse-grips-the-auto-industry

*How will consumers react? Huge incentives on manufacturers to move more new cars? If the values and prices for gently used cars drop people may feel better buying used rather than new. Many new people without regular income will lead to uncertainty and caution in household expenditures, especially large purchases like automobiles. Home price may also see a reset which could be rather significant. The home price reset may take time to become apparent. Look for a lengthening of days-on-market.