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Posted on 06/02/2022 3:27:23 PM PDT by EBH
May U.S. auto sales: Ford, Toyota, Honda, Hyundai, Kia, Subaru post declines behind choked supply chains, tough comparison to robust May 2021
Acura 6,460 18,153 -64.4%
Honda 69,031 158,662 -56.5%
American Honda 75,491 176,815 -57.3%
Hyundai brand 59,432 90,017 -34.0%
Hyundai Motor America 63,832 93,745 -31.9%
Kia Motors America 57,941 80,298 -27.8%
Hyundai-Kia 121,773 174,043 -30.0%
Mazda N.A. 15,312 42,187 -63.7%
Subaru of America 42,526 56,558 -24.8%
Lexus 21,767 29,724 -26.8%
Toyota 154,223 212,447 -27.4%
Toyota Motor N.A. 175,990 242,171 -27.3%
Volvo Cars USA 9,372 13,221 -29.1%
Total 7 Reporting OEMs 593,898 865,515 -31.4%
Note: Ford Motor Co. resumed monthly sales reports in November 2020, beginning with the November 2020 sales reporting period.
(Excerpt) Read more at autonews.com ...
Market was up today.
Those are huge down percentages.
Yes ... they are huge declines. Yet, you will never see these results in the regular news.
check the date...wasn’t referencing today.
look at the percentages and ask yourself, how is the market “up?”
Energy stocks and some biotech are holding their own. There are some swing trades if you have the stomach for it.
Was in a Honda dealership getting service on Friday. They asked if they could make an offer on our 12 year old Accord. I said sure, bring a new Pilot up front for my wife to drive — they had none — same story on a new Accord. I told them I wasn’t walking home and suggested they just shut down sales until they got some vehicles.
My problems with buying a new car include but are not limited to:
1. they cost way too much
2. buy a normal car, and expect the government to ban them at some point, driving its value to zero in the future
3. buy an EV, paying a massive market premium and by itself its value with approach zero in the future, batteries are expensive and a used EV with a used up battery pack is going to be a very, very hard resell (plus I don’t want one, don’t want to spend 1000s on re-wiring my garage, deal with the fire hazard, inconvenience on attempting road trips, etc, etc)
4. best to keep what I have and fix it whenever it needs it, due all preventative maintenance and hold on - nearly always the cheapest solution anyway
Therefore, I cannot make the case to purchase a new car, don’t see how other folks could justify it short of totally a car in a wreck. Sales are falling, surprise, surprise.
You’re right. The media avoids any news that is detrimental to the Dems.
Good for you.
-PJ
But according to Biden’s ABCNNBCBS accordion reporting, we should see a May-June “increase “ in the GDP of 1.5 to 2 percent!
Because the previous quarter was a negative 1.6 percent. April was negative as well.
I have ticked up a bit in the last couple of days,
but I am not invested in any of those stocks...
Bonds are cheap. But there is a reason for it. LOL!
Same here, they want our 2009 CRV with 200k miles.
I also picked up a 2010 CTS [90k miles] and a 2008 Accord [110k miles] for about 2/3 mkt value from a business assoc. who moved out of state. Don’t need them or need to sell them. Wondering whether to sell or hold.
Also: Government is mandating remote control over your car.
And pretty soon, Google will control your car: Google Cloud for automotive:
Examples:
Connected Car Telemetry Platform
Use Google Cloud’s Connected Car Telemetry Platform to collect, manage, and activate vehicle data at scale, with native integration to Android Automotive.
See how Geotab turns data from vehicles into actionable insights.
Connected vehicle solution
Engage with your customers beyond the vehicle purchase and create insights for R&D, monetize car data, and monitor vehicle health with a connected vehicle platform.
Read about how Mitsubishi Motors fuels customer engagement with the connected car.
Yup..if they let it go straight down people would panic and sell....
Bear markets end when people finally panic and sell...that's what creates a bottom...
Gotta see a lil blood in the streets before you buy again..
I made money today........only sulbs would be buying car stocks at this moment in time,,,,,,,,
I’ll keep my old 96 Dodge 3/4 ton with a V-10. 400,000 and going strong. Cheaper to drive it than buy a new pickup for $80,000.
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