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CarolinaGamecock99
South Carolina Fan
Member since Apr 2015
11842 posts

Car Sales Are Slipping Into Recession-Level Decline
quote:

May was another bad month for automakers as demand in the U.S. and China—the world’s two biggest car markets—continued to slip. One analysis claimed the sustained decline in the auto industry is reaching a level that hasn’t been seen since the recession, which are not good words for anybody except all of you still hoarding Geo Metros.
quote:

Global light vehicle sales fell 7% in May, dragged down by a 16% decline in the Chinese market and stagnation in the U.S. and Europe, research firm LMC Automotive said in a report. “The global automotive industry is enduring a sustained downturn not seen since the Great Recession,” the report said.?

LINK

Maybe they should stop making every vehicle cost 40k or more?


GumboPot
USA Fan
Member since Mar 2009
69856 posts

re: Car Sales Are Slipping Into Recession-Level Decline
quote:

Maybe they should stop making every vehicle cost 40k or more?


That is exactly what will happen. Prices will drop.


TDsngumbo
USA Fan
Member since Oct 2011
17043 posts

re: Car Sales Are Slipping Into Recession-Level Decline
quote:

Maybe they should stop making every vehicle cost 40k or more

Aint much on a 96 month note @ 7.4%.


CarolinaGamecock99
South Carolina Fan
Member since Apr 2015
11842 posts

re: Car Sales Are Slipping Into Recession-Level Decline
Are there really people taking 96 month loans?


Obtuse1
Wofford Fan
The Diversion
Member since Sep 2016
5083 posts
 Online 

re: Car Sales Are Slipping Into Recession-Level Decline
It ain't helping them that cars last 4-5 times longer than they did 30 years ago. People are willing to commit to longer loans when they can keep a car longer and buying new cars every couple of years is seen as someone with poor financial sense by many more people now.


beerJeep
LSU Fan
Louisiana
Member since Nov 2016
18484 posts
 Online 

re: Car Sales Are Slipping Into Recession-Level Decline
quote:

Are there really people taking 96 month loans?


I saw a 240 month note on a boat


Areddishfish
Yale Fan
Luiziana
Member since Oct 2015
1744 posts

re: Car Sales Are Slipping Into Recession-Level Decline
quote:

Car Sales Are Slipping Into Recession-Level Decline


They semi screwed up by making cars much better than say the 80s and 90s. With the rising costs of vehicles and their guaranteed fast depreciation, people are hanging onto perfectly functioning cars for 10+ years.


Dead Man Walking
Harvard Fan
Member since Mar 2019
803 posts

re: Car Sales Are Slipping Into Recession-Level Decline
quote:

Are there really people taking 96 month loans?


You gotta go 96 months out just to make the note affordable on a $40,000 car.


East Coast Band
Alabama Fan
Member since Nov 2010
38249 posts
 Online 

re: Car Sales Are Slipping Into Recession-Level Decline
quote:

It ain't helping them that cars last 4-5 times longer than they did 30 years ago.

I think you mean the loans, instead of the cars. Everyone
likes a new car, especially when you finsih paying off one. I think a lot of folks just don't feel right, unless they have a car payment. But when you now stretch out these car loans to 5, 6, 7 years, instead of the old standard 4 year car loans, you get what you get now.
Further, when more features have been required, like back up cameras, etc. the base costs will climb as well.


OweO
LSU Fan
Plaquemine, La
Member since Sep 2009
77944 posts

re: Car Sales Are Slipping Into Recession-Level Decline
quote:

That is exactly what will happen. Prices will drop.


And that's how it's supposed to work.

And the whole "slipping into recession-level decline" can be misleading. They are still making money, just not as much.. But with the cost of vehicles rising like they have, they should have known those numbers were not sustainable.


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296
Broke
LSU Fan
AKA Buttercup
Member since Sep 2006
63668 posts

re: Car Sales Are Slipping Into Recession-Level Decline
2008 Silverado. shite yeah


GetCocky11
South Carolina Fan
Member since Oct 2012
34120 posts

re: Car Sales Are Slipping Into Recession-Level Decline
quote:

Are there really people taking 96 month loans?


Longer term loans are pretty common now. 6 year loans are probably what most people do these days.


whatiknowsofar
New Orleans Pelicans Fan
hm?
Member since Nov 2010
6861 posts

re: Car Sales Are Slipping Into Recession-Level Decline
Avg car note people pay in the states is like 550/month I think.


Codythetiger
LSU Fan
Arkansas
Member since Nov 2006
21636 posts
 Online 

re: Car Sales Are Slipping Into Recession-Level Decline
I'm about to drop 30 grand in cash on a car at the end of this year... I've been waiting for the 19 models to phase out so I can get a sweet deal

but
quote:

Maybe they should stop making every vehicle cost 40k or more?


This is what I'm noticing too... also, the Chevy 1500s ltz hd or whatever the shite it's called... 55k??

I blame the people before me paying those kind of prices causing the overpriced cars.

2019 subuaro outback sport.. 4 cylnder 175 hp for 31k?


Image: https://amp.businessinsider.com/images/5bfdbe8f3815072fb7080374-750-563.jpg



TheCaterpillar
LSU Fan
Member since Jan 2004
69949 posts
 Online 

re: Car Sales Are Slipping Into Recession-Level Decline
Cars are absurdly expensive, last longer than ever, and the market place is as competitive as ever.

Firms like Subaru, Kia and Hyundai are rapidly taking market share and those cars last a long time with long warranties (subaru warranty is average though).



LNCHBOX
LSU Fan
70001
Member since Jun 2009
54517 posts
 Online 

re: Car Sales Are Slipping Into Recession-Level Decline
quote:

This is what I'm noticing too... also, the Chevy 1500s ltz hd or whatever the shite it's called... 55k??



They don't start at $55k, and that's just the sticker. (Basically) No one pays sticker on domestic full size trucks.


TheCaterpillar
LSU Fan
Member since Jan 2004
69949 posts
 Online 

re: Car Sales Are Slipping Into Recession-Level Decline
quote:

2019 subuaro outback sport.. 4 cylnder 175 hp for 31k?



Will last 15+ years if you just do simple maintenance.



19
LSU Fan
Flux Capacitor, Fluxing
Member since Nov 2007
16419 posts

re: Car Sales Are Slipping Into Recession-Level Decline
Auto market is like 20 yrs over due for a correction.

shite is retarded.


lsu13lsu
Member since Jan 2008
6580 posts

re: Car Sales Are Slipping Into Recession-Level Decline
quote:

With the rising costs of vehicles and their guaranteed fast depreciation, people are hanging onto perfectly functioning cars for 10+ years.


This is us. I own two vehicles. One is nearly 20 years old and the other is over ten years old. Nothing wrong with either. Until repair cost and reliability become an issue I am not getting a new vehicle.


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490
The Pirate King
Texas Tech Fan
Pangu
Member since May 2014
29583 posts
 Online 

re: Car Sales Are Slipping Into Recession-Level Decline
Ford has gotten stupid with their truck prices.


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