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Thread: US Auto Sales Continue To Decline Under Trump

  1. #1
    Self Banned Mister B's Avatar
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    Exclamation US Auto Sales Continue To Decline Under Trump

    ...due to increased interest rates and inflation since Trump took office.

    https://www.autoblog.com/2018/05/01/...auto-sales-us/

    DETROIT - Major automakers on Tuesday posted lower U.S. new vehicle sales in April as consumer demand continued to weaken and competition intensified following a lengthy boom for the industry. Auto sales have been on a bit of a roller coaster ride this year, with a weak performance in February followed by a jump in sales for some automakers in March.

    Ford Motor Co posted a 4.7-percent decline in sales compared to April 2017, with retail sales to consumers down 2.6 percent. The No. 2 U.S. automaker said sales of its popular pickup trucks were up 0.9 percent, but SUV and passenger car sales were down 4.6 percent and 15 percent respectively.
    ...

    Last year, U.S. auto sales fell 2 percent after hitting a record high of 17.55 million units in 2016. Sales are expected to fall further in 2018 as higher interest rates push up monthly car payments.
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    Veteran Member Eve1's Avatar
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    Well duh! Keep talking about tariffs and watch car sales go into the toilet.
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    Radical Centrist BigLeRoy's Avatar
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    I don't think this is entirely to blame on Mr. Trump. I think, in fact, that we have probably hit peak auto sales.

    Driverless automobiles are looming. Once they have arrived, the incentive to actually OWN a car may simply vanish.

    What to do with all those garages? People may simply convert them into storage areas, or maybe rec rooms.

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    Quote Originally Posted by BigLeRoy View Post
    I don't think this is entirely to blame on Mr. Trump. I think, in fact, that we have probably hit peak auto sales.

    Driverless automobiles are looming. Once they have arrived, the incentive to actually OWN a car may simply vanish.

    What to do with all those garages? People may simply convert them into storage areas, or maybe rec rooms.
    LOTS of those garages have already been "re-purposed" into something other than a place to store automobiles.

    Junk storage, an additional bedroom, what-have-you, lots of people with large garages can't park cars in them...
    Last edited by Miller47; 2nd May 2018 at 10:15 AM.

  5. #5
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by Miller47 View Post
    LOTS of those garages have already been "re-purpsed" into something other than a place to store automobiles.

    Junk storage, an additional bedroom, what-have-you, lots of people with large garages can't park cars in them...
    Yup. I have a next door neighbor who has so much junk stored in his garage that there is no room for his car. And he's always complaining in the winter about having to clean snow off of it!

    I am always tempted to say, "Well, hey, DUMMY, ......."
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    Dick with my Buzz...Try DebateDrone's Avatar
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    Ford came out with some bullshit that they are dropping tons of their car lines because everyone is buying Trucks and SUVs


    People with money are buying the more expensive Trucks and SUVs. Millennials are not buying stuff.

  7. #7
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by DebateDrone View Post
    Ford came out with some bullshit that they are dropping tons of their car lines because everyone is buying Trucks and SUVs


    People with money are buying the more expensive Trucks and SUVs. Millennials are not buying stuff.
    Millennials are not much interested in buying cars at all. I'm a retiring Baby Boomer who has ZERO interest in buying a truck or SUV. I have a five year old Chevy Cruze with barely 11,000 miles on it, and I will probably never need to buy another car again. Shrug. The car companies are in trouble. They are in need of an entirely new business model, which is why many of them are pumping billions into driverless cars and electric cars.
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    Veteran Member bajisima's Avatar
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    Quote Originally Posted by Mister B View Post
    ...due to increased interest rates and inflation since Trump took office.

    https://www.autoblog.com/2018/05/01/...auto-sales-us/
    Cant really blame Trump fully on this. Higher interest rates should be a good thing, it means the economy is healthy and stable. I know we have been spoiled forever having them so low but they cant stay low forever, that would be really a bad thing.
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    Veteran Member bajisima's Avatar
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    Quote Originally Posted by BigLeRoy View Post
    I don't think this is entirely to blame on Mr. Trump. I think, in fact, that we have probably hit peak auto sales.

    Driverless automobiles are looming. Once they have arrived, the incentive to actually OWN a car may simply vanish.

    What to do with all those garages? People may simply convert them into storage areas, or maybe rec rooms.
    Its also that people are keeping their cars longer. Now with the cost and all those gadgets, why buy one every two years? Might as well keep them longer. Some banks are offering 8 year car loans.
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  10. #10
    Veteran Member bajisima's Avatar
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    Quote Originally Posted by BigLeRoy View Post
    Millennials are not much interested in buying cars at all. I'm a retiring Baby Boomer who has ZERO interest in buying a truck or SUV. I have a five year old Chevy Cruze with barely 11,000 miles on it, and I will probably never need to buy another car again. Shrug. The car companies are in trouble. They are in need of an entirely new business model, which is why many of them are pumping billions into driverless cars and electric cars.
    Actually they claim millennials are just delaying buying cars since they live at home still. But they move out and are buying cars more than older generations.

    "It seems millennials like cars just as much as their older brethren. Despite being pegged as the generation that shuns owning a car, millennials appear to like buying autos more than their Generation X counterparts did when they were younger. Consumers, ages 21 through 34, are taking out new auto loans at a 21 percent higher rate than Gen X borrowers did when they were that age, according to a study released Wednesday by TransUnion."

    https://www.cnbc.com/2017/08/30/mill...after-all.html
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