Posts filed under “Digital Media”
Here is the latest minor consumer insult: owing more on your vehicle then its worth. Its not the same as being underwater on a house — you can always drive the car until it falls apart, so its market value is irrelevant.
“For consumers, the credit crunch may have a silver lining.
“Dealerships are desperate to sell cars,” said William Ryan, who follows the auto finance industry for Portales Partners, an independent research firm in Manhattan. “The reality is, you are probably going to get a pretty good deal if you can afford it. There is a lot of heavy discounting going on.”
On average, automakers are doling out incentives worth more than $2,675, up 23 percent from a year ago, according to the auto information site Edmunds.com (which lists rebates on its site). Some dealers are discounting S.U.V.’s by more than $10,000.
Automakers have reported falling sales numbers for months, with the annualized sales rate for October the worst in 25 years, according to data compiled by a trade journal, Ward’s Automotive Reports. Automakers are on pace to sell fewer than 11 million vehicles in 2008, about a third fewer than the annual average of the last decade. Although 2009 models are in showrooms, last year’s vehicles remain on dealership lots, and unusually high inventory-financing costs are giving dealers more reason to clear out the surplus by offering sweet deals.
“It’s a buyer’s market right now,” said Adam J. Renie, sales manager at Gray Auto, an independent used-car dealership in Greenfield, Ind. “Anybody who is an able buyer, you are making sure they end up in your vehicle.”
I suspect you may see even more incentives next year . . . but don’t dawdle too long.
Strategies for Car Shopping in a Time of Tighter Credit
NYT, November 20, 2008
Via the NYT: Dozens of banks and a handful of insurers have applied for funds from the Treasury Department as part of the $700 billion Troubled Asset Relief Program. The Treasury has transferred capital to 30 of these companies and to A.I.G. More are expected to announce their participation in the coming weeks. Bailout by…Read More
I must have received 5 dozen emails with this chart in it. Yes, its pretty cool; No, I cannot say what it means going forward. > > Kudos to doug short, the creator of this graph — you definitely touched a nerve. ~~~ Note: Doug writes to say he has posted a continuously updated version…Read More
Fascinating interactive chart via Jon Udell: > Oil Sources, Regional Breakdown: click for regional breakdown North America 1,648,765 33.56% Africa 980,231 19.95% Middle East 837,841 17.05% South America 784,999 15.98% Europe 567,152 11.54% Asia 91,236 1.86% Oceania 2,774 0.06% > Source: Where the oil comes from: Not from where I thought Jon Udell November 9,…Read More
http://uk.youtube.com/user/MontyPython For 3 years you YouTubers have been ripping us off, taking tens of thousands of our videos and putting them on YouTube. Now the tables are turned. It’s time for us to take matters into our own hands. We know who you are, we know where you live and we could come after you…Read More
“There is nothing wrong with the music business, there is a problem with the CD business.” -Chuck D > My music biz friend Gene tells me that Ian Rogers is a smart guy and nice to boot. Reading his keynote, its pretty clear why gene thinks that: Music consumption isn’t declining: iPod sales up 59%…Read More