Posted on 01/11/2021 7:42:43 AM PST by dynachrome
During the infamous year 2020, with all its distortions and shifts, automakers delivered 14.46 million new vehicles in the US, retail and fleet combined, down 15.4% from 2019, the largest year-over-year percentage decline since 2008 (-18%). Topping off years of declines, 2020 took auto sales back to levels first seen in the 1970s.
Every recession has left a deep scar on auto sales. But over the past 20 years, it has taken many years to get back to the prior highs, only to then watch sales plunging again. The last high was in 2016, which had barely eked past the prior high of 2000, in this terribly cyclical business of long-term stagnation interrupted by deep plunges:
(Excerpt) Read more at wolfstreet.com ...
Funny. A Ford dealer didn’t even want to talk to me about leasing a truck. “Our customers buy them”.
Hatchback design is far more useful than the old fashioned trunk.
Ain’t that the truth. I bought a used Ford Expedition about 10 years ago. 30K miles on it and I got it for $28K. The original sticker price was $54K. Still running with 280K miles. Not going to replace until it completely craters.
yup. Screw 'em
“Dealers are not dealing. Everything is MSRP or higher. Inventory is at all time lows too.”
I agree.
Im in the market (or was) for a new chevy 2500. The one I wanted, $60 grand.
I just can’t justify that. WOW. My 2007 chevy has 243,000 miles on it
and its getting to that point repair wise.........
Looks like I’m gonna stick it out with ol reliable.
Also, I’ve had 2 mechanics offer me a sizable amount for my 1969
Chevy blazer. I don’t think ill ever part with it.
Average Americans are going to stay loyal to Japanese models like the Camry and Altima because the brand reputation is solid. Luxury sedans are dominated by German manufacturers like BMW.
Yep. EVs will crush the auto market. Tesla is innovative but over engineered. The downside to EVs is range. For those who drive long distance,400 miles or more on trips are disadvantaged by having to plan their trips around charging stations. They take up to 30 minutes to go just 150 miles and there is no gas can available to get down the road.
I believe in an a couple of years, technology will put battery life at 750+ miles per charge. The end of internal combustion engine is near.
On the flip side, my credit has never been better and I am INUNDATED with offers from credit card companies, refinance companies, every car dealer in my area, etc. They ALL go into the trash!
Lot easier to load groceries etc in a SUV.
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Wife and I used to have only a pick-up. Loading groceries became, over time, a real problem with aging. Now we have a suv and it’s so much easier.
Foreign?
Nope, not for me.
Just procured a slightly used Ford E450 RV and a Jeep Unlimited.
Similar story for me with a 2001 Ford F150. Bought it with low miles and it just keeps chugging along having just passed 270K. It’s getting a bit rough around the edges but it still runs fine. I’m looking at the new truck and SUV models so I’ll have an idea about what used one to buy 2-4 years from now.
On the flip side, my credit has never been better and I am INUNDATED with offers from credit card companies, refinance companies, every car dealer in my area, etc. They ALL go into the trash!
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You probably didn’t go from $135k a year to being evicted, had a wage judgement put on you for being evicted and homeless either...
I did, and 30 to 40 million Americans face the nearly the same situation. We just keep kicking the can down the street a few months at a time.
Ride sharing is killing car sales. A car used for ride sharing is going to get used up with a couple hundred thousand miles in a year or two, whereas the cars that aren’t being bought are those that would have been bought by the little old lady that only drives a few miles, keeping the car for ten or fifteen years. More miles per car means fewer cars per mile.
Station wagons (real ones, not tiny ones) disappeared because of the CAFE standards. They counted as cars whereas SUVs were considered “light trucks” subject to less restrictive fleet mpg limits.
Cars are also loaded up with technology that is either required by the government or by influential safety ratings. For example, the government requires tire pressure monitors (people are thought to be too irresponsible to check their tire pressure). All this stuff costs money.
My GMC 2004 Yukon has 216,000 miles on it.
If you can afford the money pit maintenance cost to much electronic garbage the fails at a high rate of speed it’s much more cheaper to buy a restored car with up grades it last as long and cheaper.
After market parts are far more superior to OME parts remember all new cars parts are made by the lowest bidder.
Because they don’t sell!
The main reason the sales dropped is because inventories were very low, the scamdemic closed all the plants for 60 days when they were already low, auto auctions closed so you couldn’t buy any inventory, then when everything started back up, they were higher by thousands of dollars, and when I had econ classes raising prices equals lower volume.
I’ve been a manager in a new car dealership since 1986. We’re still trying to get inventory back to normal.
I’m not surprised. Have you seen their pricing lately?
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