Posted on 07/05/2022 10:30:52 AM PDT by SeekAndFind
Like some of you, I love to check out car models and drive salesmen crazy with the classic "just looking" line. I look at the sticker and check out all the options. It's an old habit and a wonderful way to kill time when my wife is at the mall. It beats drinking another cup of coffee at the mall café.
Last week, I made another trip to the local dealership. Everything looked normal except for the prices. Check this out:
With interest rates rising, it's also becoming harder to spread the pain of higher pricing with long-term financing.
The average monthly payment on a new car loan was almost $700 in June, up 13% from a year ago, researcher J.D. Power reports.
A $700 monthly payment? I remember when that was a good down payment. Naturally, sales are down, with more people heading to the used car area, or "pre-owned," as they call it now. Read on:
The annual selling rate is expected to decline to 13.2 million vehicles in June, down 20% from a year earlier, according to the average forecast of six market researchers surveyed by Bloomberg.
Prior to the pandemic, annual US auto sales topped 17 million vehicles for five consecutive years from 2015 to 2019.
Sales are declining as the global semiconductor shortage continues to roil auto production and drain inventory from dealer lots.
General Motors Co. said Friday second-quarter sales and profit will take a hit from 95,000 vehicles it can't sell because it's waiting on chips to complete them.
The inventory shortage drove the average price of a new vehicle to nearly $47,000 in May, up more than 13% from a year ago, according to automotive researcher Edmunds.com.
Anyone talking recession? New car sales down 20% sure sounds as though an economic slowdown is coming.
(Excerpt) Read more at americanthinker.com ...
“Most car buyers simply do not want EVs or even hybrids.”
True that!
The EV batteries will be a forever problem, with both safety and environmental impact with the battery’s life-cycle. Just watch how fast they burn when they ignite:
https://www.youtube.com/watch?v=5r-yN8SugWM
Saw where new Grand Cherokee Keeps now list for over $87k...for a Just Empty Every Pocket.
No thanks.
How about an IH Scout with Nissan Diesel?
The Osborne effect is settling into gear and the ICE manufacturers know it. They are in no hurry to break any ICE production records — they know the demand is evaporating. The ICE industry is going to collapse a lot sooner than most are predicting or admitting.
The saving grace of this looming storm is how fun it will be to watch it mess with the minds of the deniers here on FR.
My ‘06 Corolla LE has 400K on it. Parts are dirt cheap and it’s easy to work on. K&N air filter gets it 33 MPG combined. It’s a real money saver.
“It’s got a cop motor with a 440 cubic inch plant, it’s got cop tires, cop suspension, cop shocks... it’s the model made before catalytic converters so it’ll run good on regular gas... whaddaya say, is it the new bluesmobile?”
I saw a Rivian on the road for the firs time today.
The car companies are digging their own graves.
I’m on my third Tacoma. The first, given to my son with 270,000 miles and promptly totaled. The second, given to my grandson, is going strong with 390,000 miles and my 2019, another grandson will inherit. They don’t haul or tow worth a damn but they will not die.
Shoot. Never thought of that. Just when I was wrapping my head around home title fraud. Now cars.
As long as car companies know that American taxpayers will be forced to bail them out, they don’t give a ****.
Classic Cars and the Cubans That Keep Them Running
www.anywhere.com/cuba/travel-guide/classic-cars
If this is why sales are down - are tey really down? Sounds more like a supply problem ...
Starting at $89,995
Obscene and ridiculous.
“Fix the Cigarette Lighter”
Jake.
.
Watched it Yesterday.
Greatest of all time.
I drove a Tacoma 10 years ago. Lived in Pennsylvania and somehow the geniuses at Toyota screwed up and built a truck frame that would rust like crazy in the frigid Northeast.
Ended up, my mechanics remembered Toyota was recalling this particular line of Tacomas. Toyota ended up paying $14,000 to me to take the truck off my hands.
You may want to check if your ‘97 rusting Tacoma qualifies for that program...
I had it checked out about 10 years ago and the frame was not rusted enough but I will look into it again.
Thanks
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