Posted on 11/04/2023 10:56:23 AM PDT by RomanSoldier19
“Hopefully a “crisis” will put some downward pressure on the ridiculous prices of new and used cars.”
Supply has to come up or demand has to go down. Everything else is paperhanging. Car people calculate the risks, they are ready for what’s coming, they know the cycle. I had a good friend who was a GM at a dealership, which led to a bunch of real estate sales for me and I hung out there a lot. They made big money when sales were hot and spent it just as fast as it came in. When they drank they would tell the truth. I asked one his best (bad) story. He said “I sold car that had a rod knocking to a deaf guy.” Now that’s cold. They are big boys, they can take some poor business times.
“The more people that go on the dole ...”
You may have hit on a point that the leftist central planners in WDC have missed ... the more poor people that Bidenomics creates the fewer people there are that can afford EVs.
Since the virtue signallers have already bought their EVs (those that afford to), the number of potential EV customers is dropping fast. Making more poor people is not going to help with that.
Heard on the radio the other day that retailers are expecting a booming Christmas season since the economy is doing SO WELL!
I just shook my head at the blatant propaganda.
there is a crisis in the auto industry as lots are filled with so many hyper-priced unsold cars and trucks that dealers won’t even let you go for a test ride if it requires moving 10 or 12 cars out of the way (they have cars parked in the driveways, aisles at many lots).
Almost nobody can afford cars that are priced three or four times more than where the buyer’s end of the market is.
I guess it’s a good thing that the UAW just declared victory with their strike so cars will cost even more as the companies pass the increased costs onto customers. I’m sure it will only help the situation.
No more inventory sitting on lots, waiting to be discounted and moved.
Then again, GM is owned by the CCP and no one cares.
As long as folks don’t reach their credit card limits the economy is booming...lol.
The larger than ever wealthy and upper middle classes are doing well, and they do the bulk of discretionary spending. The shrunken middle-middle class is suffering from inflation, but it's smaller than before, some of its members have moved upward, others downward. The working class is not doing well, and as for goof-off class, I don't care how they are doing, they are net receivers of govt largess.
The UAW has been around a long time. Its members have never learned how it really ‘works,’ if you want to call it that. It takes advantage short-term thinkers who have weak math skills and no finance knowledge.
It takes advantage short-term thinkers who have weak math skills and no finance knowledge.
Bingo
There are a couple of places in my area that are in the business of offering “Car Title Loans.” Coincidently, they also sell used cars. (Gee, I wonder where they get their inventory?)
Car payments are no problem for professional politicians, like Congress who voted themselves a $35,000 raise on top of their $175,000 salary.
The UAW is putting their jobs in the no longer needed zone.
108 month auto loans available.
I paid off a home mortgage quicker than that.
Government car loan bailouts!
If you owe the bank ten thousand and you can’t pay, you have a problem.
If you owe the bank ten million and you can’t pay, the bank has a problem.
We “owe the bank” >100 trillion. The bank has a BIG problem.
Hope the bankers have their bags packed.
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