I saw an interesting analysis of car sales by price. The most expensive cars, those over $130 are selling very well. Some of the “average” price cars, now $47,000 are selling at a moderate, reduced rate. The low-end cars, around twenty thousand, are not selling at all. The conclusion was that wealthy people are unaffected by the present economy. But people at the low end, who obviously need to buy transportation at the rate they bought it three years ago, simply aren’t. They can’t afford to buy even the cheapest cars. What I’m seeing in places like my local Walmart, is people are nursing along cars that were past their best by ten to fifteen years ago.
People like us in the lower end bracket have had to go from barely getting by with what we got, to now having to get by when everything costs twice what it did (and more in some cases), under pres Trump’s first term. Nearly everything is twice as much now, despite our cola not being increased to keep pace with the doubling of prices- so i5hink that is why people have had to stop purchasing efen th3 low end cars
I see more and more cars with "do-it-yourself" bodywork where someone drilled holes in a fender, pulled out a dent so the wheels wouldn't rub it, and did nothing more; no bondo or touchup paint. It's like 2008 again.
I've also been surprised at seeing Saturn vehicles on the road, realizing the Saturn brand ended in 2010. I get the feeling grandma passed away and someone in the family has the car as a daily driver.
A Walmart parking lot might not be the best place to gage the health of the car market. That said, there was a poll out in the recent past that suggested only 17% of auto buyers could afford a new car. I just bought a new a car after my 16 year old car started to have issues and acquiring parts was a major issue. I had a nice run with it, but it was time to get rid of it. My family members are mostly the same way. They buy new or slightly used and drive the cars into the ground.
I have 2 cars (2005 Saturn Vue and 2011 Nissan Quest). I am 63 and plan to never buy another car ever again.