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November Auto Sales Prove Scared People Don't Buy Cars
Detroit, 2:39 PM
Fri Dec 4
28 posts in the last 24 hours
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November Auto Sales Prove Scared People Don't Buy Cars |
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12/02/08
1) The first whammy came late 2007 / early 2008 when gas spiked over $4/gal. Total miles driven by Americans dropped in June 08 - first time ever. The US Automakers took it on the chin; the rest: only lower SUV sales.
2) Second whammy: financial crisis. Hurts everyone.
.
Either of these events, alone, would have made business life difficult. In 2008, we're getting a two-fer. (Thanks W!)
.
What I'd like to know is: how many banking execs have been called to the mat to take the $1 pledge? Anyone...? Bueller...? Anyone...?
12/02/08
12/02/08
12/02/08
1 - People don't NEED new cars. In this environment people aren't buying what they don't need.
2 - Credit is bad, so people aren't able to buy what they can't afford.
Why are either of these bad things?
12/02/08
And less humans, but that's probably another four/five years down the road.
12/02/08
12/02/08
Times of (the way too) easy credit are over and will never ever come back (You really think Euro banks will make the same mistake and carry the weight of US debit again, the same burden that is alost killing them, including DB? No way, never.)
All car makers are suffering from bad sales and inevitably this will kill off the weak players, but hey, this is America, let the market decide and we will all be happy... euh, well that myth has been busted.
12/02/08
I recently picked up an '07 Grand Prix still under full warranty for well south of 10k.
I don't care where your put your loyalties, thats a shitload of car for not much money.
12/02/08
I'm going to take up gardening.
Except composts not as cheap as it used to be....
And there's soil erosion to worry about....
12/02/08
Or dead from a aneurysm.
12/02/08
"wriggly wranch"
12/02/08
My bike tyre was a bit low, so I stopped off at a gas station to use the free compressor / inflator.
I noticed that, rather than being free you now had to put a token in which you had to buy from the attendant for 10p.
I went in to the gas station shop and complained to the attendant. He said that because maintenance costs had risen they could no longer afford to let people use the compressor for free.
I said:-
"Well, that's inflation for you..."
12/02/08
12/02/08
12/02/08
"Hey, how about I plunk down half my annual salary on something that will lose half its value in five years? That way, I can have a much nicer conveyance than the current five-year-old vehicle I currently own."
Buying a new car is almost completely nonsensical for 80% of the population, and I think many of those people are finally realizing that.
12/02/08
12/02/08
12/02/08
If your a person who wants a tiny fuel sipping Euro Car Fords going to take care of you next year with the Fiesta.
If your in the market for a Plug in Hybrid you have several options only a year or two away.
Maybe your worried that Daewoo isnt going to last much longer. But hell if your going to get stuck with another car from a car company that will disappear tomorrow. Or worse get bought by GM who wont cover your warranty.
Maybe you wanted a diesel thats not a Volkswagon or costs $40,000. There coming soon to.
So outside of getting a leftover 2008 for half off. Whats the incentive to buy now?
12/02/08