I think the free money train has ended and people are now left with ridiculous grocery bills and can’t afford the $70k vehicles others were previously financing at 0%.

Interest rates have destroyed affordability and now people are looking for the cheapest thing on the lot that fits their needs. Expect inventories to rise in everything but the cheapest vehicles until OEMs get with the programs and reduce prices.

COVID is over and we’re ‘back to normal’ according to every employer out there. How about prices come back to normal as well.

Are these figures including fleet sales to rental companies, or is it just consumer sales?

A used malibu is super uninspiring but dollar-for-dollar appears to be one of the better deals on the market if you're sticking to that "max 3 years old" rule of thumb. The interest rates are crushing and there are so few options available at the low-end of the market. Malibus are at least on the lot.