Comments on: Vehicle Sales Plunge

By: bernandoo

bernandoo — Wed, 04 Feb 2009 21:25:15 +0000

testing testing my comments aren’t working.

By: Mark A. Sadowski

Mark A. Sadowski — Wed, 04 Feb 2009 04:25:09 +0000

I meant 1974. As long as I’m back I’ll mention it has a Buick 455 Stage 1 engine (dual exhaust, high lift cams, enlarged ports, etc.) Yaaah Hooo!

By: Mark A. Sadowski

Mark A. Sadowski — Wed, 04 Feb 2009 04:15:38 +0000

My newest car is a 1976 Buick Estate Wagon. I own two other cars, a 1959 Lincoln Continental coupe and a 1966 Chrysler Imperial Crown convertible. When there are new real cars being built anywhere at a decent price I’ll buy them. Until then I’ll enjoy what I already own.

By: How the Common Man Sees It

How the Common Man Sees It — Wed, 04 Feb 2009 04:05:52 +0000

@Bruce N Tennessee Says: February 3rd, 2009 at 3:06 pm

Fantastic data link there. I’ve been looking for something like that

Finally, some positive news. After so many years of mortgaging their lives away on new cars, homes, toys, etc. and saving nothing, the American consumer is finally realizing that snake bites. This adjustment to the U.S. economy was long overdue and will be painful, but needed. As they realize their retirement nest egg, based on the false belief that home values would never drop, has disappeared and they finally realize they will have to do something different to protect themselves.

I’m wondering how much of this is the boomers alone. I’m guessing they have finally ‘gotten it’ and are retrenching and going into retirement savings mode. Seeing the savings rate go to 3+% in the last report is great news over the long run but will be painful in the short term

By: willid3

willid3 — Wed, 04 Feb 2009 02:13:32 +0000

the car business is nothing but the canary in the mine. it has been showing this same sign for almost a year. its the sign that consumers (AKA employees) are tapped out. and their wages haven’t kept up with inflation to the point that they make less than the did in the 70s. and since credit has dried up for them they can’t make up for their low low wages. so why are we surprised that cars aren’t selling? and lots of other big ticket items aren’t selling? the consumer (employee) is in their shell and will only spend money on things they have to have (like food), and every thing else is put on hold until it can’t be denied any more. if this doesn’t change, then there are no business that can survive for very long as we will be heading for levels not seen since the 70s (or maybe worse).

By: super_trooper

super_trooper — Wed, 04 Feb 2009 00:17:54 +0000

How bad do you have to be to accomplish a 49% decline in business??
I wonder if any retard of the street could do much worse. Are they even trying?
Auto bailout part II coming sooner than “anybody” could have guessed. Just make sure the people at the top get a nice bonus first.

By: Dr. Kenneth Noisewater

Dr. Kenneth Noisewater — Tue, 03 Feb 2009 22:25:01 +0000

Hmm.. VW has the most comprehensive line of diesel autos in the US, and its sales are the least impacted on this list.

Correlation but not causation?

(That said, I would never be the sucker to take the depreciation hit on a new car, let alone the ridiculous insurance rates for the kind of gold-plated insurance that financing requires…)

By: sinomania

sinomania — Tue, 03 Feb 2009 22:13:08 +0000

@deanscamaro

“After so many years of mortgaging their lives away on new cars, homes, toys, etc. and saving nothing, the American consumer is finally realizing that snake bites. ”

I think so too and I wonder how much of this mind shift is due to using Heloc $ to buy (or pay off) the family cars? People have learned that it is just an awful waste to finance a car. I bought a brand new car with financing once and never made that mistake again. I think millions know this. And it is pretty much the case in markets where car ownership is increasing. For example, in China – the number 2 car market in the world and fast growing still – most car sales are settled in cash despite great lengths to induce Chinese to finance and creating an auto finance industry including securitization. The most recent number I know is from a JD Power report in 2007 that said that only 10% of car buyers in China financed the purchase.

By: Froglips

Froglips — Tue, 03 Feb 2009 21:51:40 +0000

I am driving a loner Audi an A4 Diesel. it
I was told it has a consumption of 7 liters for 100KM in town or 1.85 US gallons for 62.1 miles and 6 litters at 130Km/h the top legal highways speed or 1.58 US gallons for the same 62.1 Miles however, driving at 85 miles per hour.
Further, all Japanese vehicles can be bought with a diesel engine including lexus, infinity and the likes

By: fear the data

fear the data — Tue, 03 Feb 2009 21:28:49 +0000

Just bought 2 new vehicles – first ones in 8 years. Chevy diesel 3/4 ton for my business and a Toyota Rav4 for the bride. Paid less for the new truck than I paid for the 2001 version of the same exact thing. The dealership took $10,000 less than they sold that truck for 12 months ago. The Toyota had a smaller discount, relatively speaking, but still ~$3,000 less than it sold for 9 months ago.

Great time to buy a vehicle – BRUTAL time to be selling them.