Well, it’s happening again.

[Trainmaster]

The economy is definitely tanking. But it was never really good from a working man's perspective. Yes there were some gains in certain niche industries, but generally our salaries have not kept up with inflation. They are actually lower than in 2001 if you count inflation. The profits have been taken by the companies who are building more, lobbying more and sucking more investors into mostly smoke and mirror scams. Quite a few of the biggest corporations haven't turned a profit. Amazon, Tesla, Uber... all smoke.

Autos are another story. There's infrastructure, products, inventory. And massive regulation. The auto manufacturers have to guess which party will get elected -- socialists or republicans to guess what they will be permitted to sell in four years. They have to guess how much money the Federal Reserve will print to determine what Americans will spend -- all with four-year foresight.

The smoke and mirrors are ending. We're in for high interest rates, mass layoffs and a tough market in many job sectors as the make-believe industries collapse.

Hold on to the $80,000 you want to spend on auto metal. Buy gold instead. You may need your money to feed your family.

 

[JExpedition07]

BTW economic downturns or auto industry downsturns are a great time to buy a brand new vehicle. MSRP drops and rebates pile on to keep sales going. You get a new truck while they are low in demand and make out like a bandit because they give them away. You know next cycle things will look up. Most consumers are short sighted, some aren’t.

 

[5150 pops]

I was not aware of this, stumbled across it today.
All the way back in June???

For many investors, those moves are expected to include a partnership with Volkswagen, although Jonas notes that there has been little in the way of tangible updates since the two companies signed a memorandum of understanding in June.

 

[JExpedition07]

NBC and their false information, here is an article. Of course they just blame it on republicans:
https://www.google.com/amp/s/www.nbcnews.com/news/amp/ncna917756

It’s funny how NBC and CNN make these bold claims with no backing. In fact Ford came out and called these stories “incorrect” and “not based in fact or truth” as the layoffs and position changes were planned before the tariffs and is a worldwide company transition not just in the U.S. good on them for throwing some dirt in NBC’s face.

 

[Matticus]

I started to really think about this and the ridiculous price of trucks/suvs when my father-in-law bought a brand new f150 in 2011. After all was said and done, it was almost $50,000. At the time, it seemed like it had so many luxurious bells and whistles to the point of being ridiculous. I think one of the first steps that needs to be taken is we, as the consumer, need to change our buying habits. Start to think to yourself things like "Do I really need power running boards?" and "How much power do I really need?" vs want. I also think there has been a significant increase in cost due to the federal government demanding certain features and gas mileage standards that the consumer is NOT demanding (I think that's only the tip of the iceberg when it comes to gov regulation increasing the cost of vehicles). There are various studies that try to put a dollar amount on how much the cost of a car increases for each mpg increase the CAFE standards have demanded - I think they're probably right.

I'm also a big supporter of the idea that if you can't pay cash for it, you can't afford it. I mean this in the nicest way possible, but if you are financing $50,000 for something that is going to be worth $10,000 (if you are lucky) by the time it's paid for, you are a complete fool. The wealthy people I associate do not/did not finance cars and STILL don't purchase brand new cars. There is a reason they are wealthy. Consider how much the average person loses in both value and interest between the ages of 20-65 years old when they finance brand new vehicles and then consider the lump sum of money you could put in your pocket when you retire if you could go back in time and only pay CASH for USED cars. The amount is staggering

 

[Habbibie]

I started to really think about this and the ridiculous price of trucks/suvs when my father-in-law bought a brand new f150 in 2011. After all was said and done, it was almost $50,000. At the time, it seemed like it had so many luxurious bells and whistles to the point of being ridiculous. I think one of the first steps that needs to be taken is we, as the consumer, need to change our buying habits. Start to think to yourself things like "Do I really need power running boards?" and "How much power do I really need?" vs want. I also think there has been a significant increase in cost due to the federal government demanding certain features and gas mileage standards that the consumer is NOT demanding (I think that's only the tip of the iceberg when it comes to gov regulation increasing the cost of vehicles). There are various studies that try to put a dollar amount on how much the cost of a car increases for each mpg increase the CAFE standards have demanded - I think they're probably right.

I'm also a big supporter of the idea that if you can't pay cash for it, you can't afford it. I mean this in the nicest way possible, but if you are financing $50,000 for something that is going to be worth $10,000 (if you are lucky) by the time it's paid for, you are a complete fool. The wealthy people I associate do not/did not finance cars and STILL don't purchase brand new cars. There is a reason they are wealthy. Consider how much the average person loses in both value and interest between the ages of 20-65 years old when they finance brand new vehicles and then consider the lump sum of money you could put in your pocket when you retire if you could go back in time and only pay CASH for USED cars. The amount is staggering

Reading your post reminds me of two things are that very apparent in today's world,
1. Status quo, this applies more to the younger crowd than the older ones, they buy cars they cant afford to show they're successful enough to buy one when we all know the reality of the matter is NO you actually cant afford it you're just dumping all your lousy income on it in an attempt to show off. This is why so many 20-34 year olds still live with mom & dad and cant afford to pay them rent at the same time.

2. Peace of mind BS, many people try to sell me off the idea that a new car gives them Peace of mind it wont break down vs a used car, we all know the truth is for the amount of money you're spending on this new car you can buy a used one for 20% of the price and spend another 20% of that to ensure long lasting reliability. Save 60% and get a greater peace of mind knowing you're not in debt up to your eyeballs, Laziness and lack of automotive education is key here.

 

[Matticus]

2. Peace of mind BS, many people try to sell me off the idea that a new car gives them Peace of mind it wont break down vs a used car, we all know the truth is for the amount of money you're spending on this new car you can buy a used one for 20% of the price and spend another 20% of that to ensure long lasting reliability. Save 60% and get a greater peace of mind knowing you're not in debt up to your eyeballs, Laziness and lack of automotive education is key here.

This is sooo true. I've heard this from a lot of people trying to justify they're brand new purchase. "I'll bet I would spend more trying to keep a used car on the road than just having a monthly payment" .... dude, do you even math?

 

[jeff kushner]

Even from 1975 when I first did the math trying to convince my Dad that buying a new car was cheaper than used....the math said NO, not even close!

It is always cheaper to buy used for cash based on % of avg repairs.

jeff

 

[cmiles97]

For every 1 Pacifica I see 5 sienna's & 10 odyssey's. The vast majority of the caravans are fleet owned and operated, it's far easier to get approved for a domestic brand than an import as far as fleet ownership goes.

Also when was the last time you've seen a 10+ year old caravan? I see 1000's of sienna's & odysseys that are well over the 10 year age mark, brand loyalty is very evident here, I've never met anyone in my life that spoke highly of caravans like they do for their Japanese counterparts

The Chrysler minivans can be had with a steep discount and or rebate. Honda & Toyota not so much. Plus I justed posted this earlier for the highest percentage of vehicles making it past 200,000 and even 300,000 miles. The Expedition is in both lists. Both Toyota & Honda's minivan are there. The Pacifica prior to becomeing a minivan is there too but not the Caravan.

So the sales leader may be due to lower price while you see more Honda & Toyota minivans due to actual longevity. Too early to tell for the new Pacifica minivan.

https://roadloans.com/blog/longest-lasting-vehicles-the-200000-mile-roster

 

[rjdelp7]

40% 'profit' on pickups and SUVs? The same gas guzzlers, that triggered a government bailout? Disgusting! Then they move factories to Mexico or close one, a month prior to Christmas? Drop the price and watch them sell...