Posted on 09/17/2016 4:41:20 PM PDT by Perseverando
In the history of data from The Fed, this has never happened before...
Aggregate Auto Loan volume actually fell last week... And less loans means one simple thing... less sales (because prices have never been higher and no one is paying cash)...
Which is a major problem since motor vehicle production continues to rise as management is blindly belieiving the Hillbama narrative that everything is (and will be) awesome.
The problem is... inventories are already at near record highs relative to sales (which are anything but plateauing)...
In fact, the last time inventories were this high relative to sales, GM went bankrupt and was bailed out by Obama.
The big picture here is simple... US Automakers face a plunge in auto loans for the first time in this 'recovery', and with sales plunging and inventories near record highs, production (i.e. labor) will have to take a hit... and that plays right into Trump's wheelhouse and crushes Hillbama's narrative just weeks before the election.
(Excerpt) Read more at zerohedge.com ...
When I was a kid, half the neighbors would buy a new car every year or every couple years. Not in today’s America.
Welcome to the American decline, thanks to decades of corrupt government loser leadership.
Be prepared to see som bizarre controls.
Ford has gone tech mad.
I have a bicycle as my only transport vehicle.
Low maintenance costs. No gas, no insurance and no expensive maintenance and it was paid for a long time ago.
We have not had car payments for decades. No joke.
I flat out refuse to make payments, pay interest and sky high taxes on vehicles every single month. In CA I think nearly 10% of the cost of a new vehicles goes to corrupt government taxes. No way are we being suckered into that loser game.
Anytime I can pay up front and be done, I’m going to.
When I buy on Amazon, I’ll go buy gift cards and pay cash and add them to my balance and when it’s time to buy, done.
I’ve done the debt misery trip which was a long time ago and I refuse to go down that path ever again.
Dodge Chargers are now cop cars.
I’m dashing along in my luxury Toyota Avalon. It’s less than 20 years old, and it cost me $5000 about 5 years ago, and would still be worth that except for the hail storm. I did a major overhaul at about 130k miles that set me back a bit, but I figured with some routine care, that should get me to about 250,000 miles when I probably ought to think about a replacement, or registering it as a classic at that point and get the body work repaired. My wife’s car isn’t even 10 years old yet, so it’s still new with around 140,000 miles on it. I figure another 10 years on that, as well. We could probably use a spare car - if they have some good deals this winter, I may pick up something cheap.
Smart bert. I know fools in CA who are paying $1,000+ per month for 2 car payments per month. Makes me laugh. Debt is slavery and I too avoid it whenever possible.
I was a state employee and had a rough couple of years during school money wise and things wound up getting way out of hand.
Finally I had to admit defeat and pull the pin on bankruptcy. It took a year or so to get life back on an even keel afterwards. A lot of things suffered, mostly needlessly.
Our newest vehicle is a 2002.
I’ll bite,
Where do You;
Work,
Live and What do you
Do for fun?
If you tell me Peewee Herman is King,,,
“...the Obama recovery is just booming...”
Yes it is, as long as you are an elected official or a gubmint employee. Otherwise, not so much. But hey, keep on working your ass off in private sector and paying your taxes. Suckers! /sarc
we got our 2015 Rav4 no interest for 5 yrs....we’ve had a Toyota before and it went well past 200,000 miles so with this Rav4 we’ll pay if off and then have it for the next 10 yrs or so too....we always run our cars long....
Another victim of Obama CAR, ....er......CARE
Yep, that cartoon says it all. Obama (and company) are out there tooting Obama’s horn over his accomplishments as if the 90 million people out of work were going to believe him.
I wonder how many vehicles those 90 million people would buy to get to work, dumb ass (Obama).
Thank heaven we have a businessman headed into the White House.
He’ll oversee fumigation done right!
Thank the environmental activists, especially the ones that drive their polluting air/ground transportation. Especially the ones that get their Chaika-lane SUV’s.
As for us civilians wanting a bit more than the Camry or Civic/Accord, what US/Canada options exist? I’ve been partial to (pre-Mulally) Ford/GM for them having an American-designed and built lineup. Today, they’re more or or less European carmakers with Detroit offices.
I’d give bonus points if a manufacturer managed to bring a turboless V6/I6 to the <$25k tier and a V8 to the <$30k tier, much like where the Taurus and Crown Vic were at. Not an I-4/V6 with addons to make it sound and feel like a bigger engine, but to actually have that engine.
Since the “domestic” manufacturers have abdicated that roles, I’d be open to someone that faithfully follows Detroit’s philosophy of putting more car per dollar in the hands of mere mortals. If Hyundai (a skilled car cloner) were to make something out of their Genesis lineup like that, I’d be happy.
#12 Criminals are fatter now so the police need a SUV....!
Guaranteed Obama will do some underhanded thing to cause a delay of any grief to the auto industry, bank loans, etc. until after the election. He’ll do some sleight of hand. Bank on it.
Ford owns 71% of the LEO market. Chevy and GMC combines own 19% with the rest going to Asian manufacturers...
If they didn’t join in on making narcostate specials (like GM and Ford have), they would also be a viable alternative for Detroit metal.
The only redeeming quality of Chrysler at this point is that they quarantine their golfcarts to the Fiat brand. They’re lucky that nobody else manages to match them dollar-for-dollar. The closest that most foreign brands get is their exotic luxury tier.
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