Skip to comments.Record 13.2% Of Americans Plan To Buy Car Or Truck Soon
Posted on 02/22/2011 11:12:35 AM PST by Slyscribe
The share of Americans planning to buy an auto in the next six months rose to 13.2% this month, easily the highest reading since the Conference Board began tracking this measure in 1978. Auto sales for GM(GM), Ford (F) and others have been hot in recent months.
Auto loan credit approvals for first-time buyers have risen for the first time since the start of the recession, climbing 4.5% since October, LeaseTrader.com said.
(Excerpt) Read more at blogs.investors.com ...
Seems most Americans don’t care about the bailouts — that’s too stratospheric for them to see.
Too bad most of these autos they are going to buy will be older used models they can afford...
That’s because you can only drive an old Ford Festiva with stick shift for so long before it gives out. Thanks Obama, for the high gas prices!
No way I believe this.
Bet they do NOT!
We have another thing coming and buying a new car will not fit into their plans to survive.
Who are these people kidding?That would be the day I would buy a new vehicle of any type.
As far as I’m concerned NOW is Not the time to buy anything that expensive espechially on credit.
My vehicle is 7 years old and it’s going to have too last a while longer.
half of them also think sosh security is a good return on ‘investment’ ,the Easter Bunny is real,and
they’re going to win the lottery soon.
I’m tradin’ in my Highlander for this;
Watch, they are going to buy Trucks, SUVs, and Minivans again and not the green commie cars.
Congratulations on finally achieving your lifetime goal of finally owning a Cadillac!
It looks like a flying saucer landed on it! Bizarre, to say the least!
Real story is 86.8% Of Americans do not Plan To Buy Car Or Truck Soon, and I am one of them.
Too bad it has a reserve, it would have gone for really big money at the Barrett-Jackson auction last month.
Let’s see if their plans change after the incipient stock market crash.
Any time now, real soon, any second, probably next week....
No new car for me until I pay off my house(less than 4 yrs now). Here’s hoping my Toyota hangs in there just for several more years.
back in debt
I’m prepared to buy something, maybe new maybe used, but not planning on it. My ‘99 GM pickup has over 200K on it, anything major breaks I’ll be in the market. I’ve been a loyal GM owner since 1980 when I bought a 1968 impala. My next truck will be either a Ford or a Toyota Tundra unless a real sweet deal on preowned turns up, which thanks to cash for clunkers probably won’t happen.
We may be among them. Our vans are 7 and 14 years old, and the 14 year old one is reaching the end, despite careful maintenance. We’re still mulling it over, but if inflation really picks up, we may be better off buying a big ticket item now rather than waiting a year or two. If we want to finance it, rates are still low. I remember the double digit interest rates from the post-Carter years. I’d rather be receiving those rates than paying them.
I may drive an 11 yr old car, but I have been happily car payment free since 2003.
I do need a new vehicle (my van is 13 years old and one of the strut towers is beginning to show signs of rot).
I have no intention of supporting Government Motors or anyone else who accepted Obama’s bribes. I suppose that means I’ll be getting a Ford. My eye is currently on the Ford F150.
That is about 15 million people. I HIGHLY doubt that many will be buying a vehicle.
We just bought a new F-150. Hubby wouldn’t even consider GM or Mopar. Replaced an 11 year old Silverado. We were gonna wait a few more years, but I felt that if we did that we would probably be looking at 6 digits.
The battery packs on some of those first hybrids have to be about worn out. Wait until people see what it costs to replace them.
I've seen data that says the average age and mileage of the current US auto fleet is the highest ever. Cars do last longer but they don't last forever.
$5 / gallon gas may change your prediction, and that looks like where we're headed.
The good news is that's a big nail in the coffin for Baraq's re-election chances.
LOL I’ve bought several estate Caddys with low miles for screaming low bucks. Garage queens as they say.
Right now I’ve got an SRX I bought with 15k miles for 40% of sticker.
The first Prius went on the market in 1997. How much longer will we have to wait?
Plus the much reduced available used car fleet because everyone has run them into the ground.
Hyundai and Kia are well positioned to pick up this slack. I expect to see them make huge money in the next couple of years.
I don’t think so, the American Worker is smart enough to know that Trucks and larger vehicles transport more cargo for a given gallon of gas than a commie car.
They will cut down on trips, but they will only have to make one trip vs 15.
I plan on buying one soon, but it will be used. Thinking of a 10 year old Dodge truck with a Cummins engine and less than 100K miles.
My next will probably be ‘previously owned’; as well.
The Chinese are poised to attack the US auto market also.
They’ve needed time to steal / develop world competitive designs and build enough factories to satisfy their domestic demand. Right now they’re pretty close to both objectives.
Over the next decade they’ll start carving out a significant chunk of the US market. If I ran WalMart I’d begin adding on dealerships to sell “Great Value” generic Chinese cars at unbeatable prices and service them in the oil change/ tire bays.
Total 2009 sales were 14.2 million as a result of cash for clunkers. Many people have put off replacing the car since then and many others see high gas prices and want to downsize to a more fuel efficient car. I don’t think 15 million cars sold next year would be an outrageous number given that less than 12 million sold last year, I believe.
It is not like they are calling for sales of 20 million or something.
“...I’ve seen data that says the average age and mileage of the current US auto fleet is the highest ever...”
I’m still drivin’ my 1988 F150 and I plan to keep on drivin’ it till I die!
Agree I’ve got a 67, a 96, and an 04 myself but most folks can’t handle the big repairs themselves and won’t put the big $$ into a 12 yr old car.
My guess is the "fleet" is getting old, i.e. people are driving cars 150k or more but now some are jsut to old to fix etc.
Not Investment advice but on CNBC the other day "Dougie Kass" noted he is long on Ford and GM, look at this track record predicting things, and what does that tell you.