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Used Vehicle Prices Plunge Signaling End Of Auto Party
Zero Hedge ^ | 8/8/12 | Tyler Durden

Posted on 08/08/2012 7:00:38 PM PDT by nascarnation

However, there is one index that tends to see through all the unreality much more clearly than our analysis above, that is the Used Vehicle Price index. Each time this index has dropped and broken below its two-year average, the auto industry has tended to fade rapidly.

(Excerpt) Read more at zerohedge.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: automakers; bhoeconomy; clunkers; economy; sales; used; vehicle
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Predicting more economic trouble ahead.
1 posted on 08/08/2012 7:00:55 PM PDT by nascarnation
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To: nascarnation

Guess we’ll need another “Cash For Clunkers” to bring the prices back up again. /s


2 posted on 08/08/2012 7:01:52 PM PDT by dfwgator (FUJR (not you, Jim))
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To: nascarnation

Quick! We need another cash for clunkers program to send the prices through the roof again.


3 posted on 08/08/2012 7:02:12 PM PDT by cripplecreek (What does it profit a man if he gains the whole world but loses his soul?)
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To: dfwgator

Only the wealthiest people I know were able to take advantage and those who couldn’t afford new cars had to pay top dollar for used.


4 posted on 08/08/2012 7:03:51 PM PDT by cripplecreek (What does it profit a man if he gains the whole world but loses his soul?)
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To: cripplecreek

GMTA!

Should be a couple of good games this weekend at the ballpark. Tigers seem to be getting into a good groove finally.


5 posted on 08/08/2012 7:07:58 PM PDT by dfwgator (FUJR (not you, Jim))
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To: nascarnation

My 2009 Camry is going to be all mine in November. And I intend to ride it until the wheels fall off. There is no f-ing way that I want to buy a new or even slightly used car when I am supporting family members in Obama’s economy.


6 posted on 08/08/2012 7:08:21 PM PDT by Lysandru
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To: nascarnation

didn’t know there was a party.


7 posted on 08/08/2012 7:09:21 PM PDT by the invisib1e hand (At what point does an escalated effort to remove this traitor commence, and what form does it take?)
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To: nascarnation

Good. This means the supply has finally caught up with the vast gaping hole left by C4C.

Also, the creeping gas prices and ongoing recession are driving prices for all but the smallest, most fuel efficient cars way, way down.


8 posted on 08/08/2012 7:13:42 PM PDT by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: nascarnation
Used car prices are still inflated, and will continue to be inflated for a couple more years to come. That some index is finally dropping is just it measuring the increase in availability of used cars, now that the market is finally stabilizing after Obama’s Cash for Destroying Perfectly Good Cars program.

But hey! It's another sign of a bad economy... Only we've had a bad economy for all of Obama’s term, and it shows little sign of getting any better. QUICK: Let's keep federal spending at 25% of the GROSS NATIONAL PRODUCT!

Some days, I really wish there was an electro-shock on the voting button in Congress... Every time a congressman votes to spend us more in debt, they get a shock - the voltage set by the amount of dollars in debt the bill they are voting on sends us, in milivolts. Figure after the third ten billion dollar budget buster, they might even hesitate a moment or three before pressing the button for a trillion dollar debt package...

9 posted on 08/08/2012 7:13:48 PM PDT by kingu (Everything starts with slashing the size and scope of the federal government.)
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To: the invisib1e hand
didn’t know there was a party.

Of course there has been, the stock market (especially autos) will rise tomorrow to new heights. Such is the glory of Obamaloney.

10 posted on 08/08/2012 7:14:07 PM PDT by ProudFossil (" I never did give anyone hell. I just told the truth and they thought it was hell." Harry Truman)
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To: Lysandru

I have a 1998 Lexus LS400 with 168,000 miles. 3 months ago I replaced the starter. It was the first repair since I’ve had it. 10 years ago I bought it with 44k. The rest was just maintenance.


11 posted on 08/08/2012 7:15:16 PM PDT by BreezyDog (PLAN A: A Peaceful Restoration of the Republic.....PLAN B: A Restoration of the Republic)
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To: the invisib1e hand

” didn’t know there was a party. “

Guess your invitation got lost in the mail..

Or something...


12 posted on 08/08/2012 7:17:00 PM PDT by Uncle Ike (Rope is cheap, and there are lots of trees...)
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To: nascarnation

But it is good news or people like me who desperately needs a “new” (to me) car.........

Finally had to get rid of my ‘97 Escort - it was starting to nickel and dime us to death.


13 posted on 08/08/2012 7:18:10 PM PDT by Gabz (Democrats for Voldemort.)
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To: ProudFossil

And there are still no “clunkers” around for my 19 and 17 year olds to pick up for theiir first car. Used to be an easy find.


14 posted on 08/08/2012 7:18:22 PM PDT by cumbo78
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To: All


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15 posted on 08/08/2012 7:19:06 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: Gabz

That’s what Escorts do. They weren’t very good to start and they didn’t get better as they aged. :P


16 posted on 08/08/2012 7:23:02 PM PDT by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: cumbo78

Yes there is... There is a 1000 dollar one sitting in my driveway. Runs/Drives hell the a/c blows cold.

15 people have come and looked at it, drove it. Then offered me 3-400 for it.

Good looking truck. Has 1000 bucks worth of new tires on it.

Prices are dropping because people are demanding low prices because they have no more money to pay for them.

I’ll keep it as a spare before I sell it for scrap prices. (or I’ll just scrap it to save the title headache)


17 posted on 08/08/2012 7:26:59 PM PDT by cableguymn (For the first time in my life. I fear my country's government.)
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To: nascarnation

Had it not been for the “cash for clunkers” program, this index might mean something this time around, but I believe the prices are dropping below their 2 year avg. because supply and demand in the used car market is starting to recover after the government program wreaked its havoc.


18 posted on 08/08/2012 7:45:33 PM PDT by spodefly (This is my tag line. There are many like it, but this one is mine.)
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To: cableguymn

Same thing here...
Got an older car I’ve pretty much restored, but with plunging used car prices, it’s easier to keep it as a spare, than sell it right now.


19 posted on 08/08/2012 7:48:38 PM PDT by tcrlaf (Election 2012: THE RAPTURE OF THE DEMOCRATS)
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To: nascarnation
The Federal Government is like a bull in a china shop. While the "cash for clunkers" program may have helped new car dealers it almost killed used car dealerships.

I spoke with several used car dealers afterwards and they said they almost didn't survive that period.

20 posted on 08/08/2012 7:57:39 PM PDT by FReepaholic (Stupidity is not a crime, so you're free to go.)
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