No, I don't mean where is an 80 year old Jaguar worth more than a new Lada, rather, how badly do you have to have screwed up an economy so that the average, normal, used car is more valuable than one on the lot, never been used?
However much it is Venezuela has managed that rare achievement:
The premise may leave car enthusiasts in other parts of the world scratching their heads, but vehicles actually gain in value in Venezuela – as soon as they're driven off the new or used lot. Shortages and government-mandated currency controls have led to higher preowned car prices, as many consumers are desperate to find a vehicle.
I had thought that Chavismo was just the usual Latin American buffoonery of the Caudillo doing a bit of badly misunderstood socialism. But this sort of result makes me think that the place is far more badly run than that. So, my apologies for not paying enough attention I suppose. And this isn't something new either: I can see references to this going back to 2009 at least.
But in a move to protect consumers, Venezuela's National Assembly has sought to throw the brakes on soaring car costs. Last month, a bill was passed that, if signed into a law by President Nicolás Maduro, would attempt to regulate both new and used car prices, levying hefty fines and even jail time on venders who don't comply with government-approved prices.
That's really not going to help now, is it?
I am left just to boggle at the idea that cars rise in price as they drive off the dealer's lot. The only other time I've seen this was in the Soviet Union where you knew that if a car had been running for a couple of months then it was likely better built than the ones still on the lot.