Quote:
Originally Posted by NecioVato
Not sure if anyone posted this - but I guess my 'hope' of auto prices starting to go down will be just a figment of my imagination:
https://www.npr.org/2023/09/15/11996...g-3-automakers
A historic strike at the Detroit Three automakers is now underway.
For the first time ever, the United Auto Workers union is striking against all Big Three automakers at once, after it failed to clinch a deal on a new contract by the 11:59 p.m. deadline on Thursday. |
Nope, expect car prices to go up even further.
The Good: Not all automakers are affected by the strike and only pertains to the American car manufacturers. Most foreign automakers are not unionized, so this wouldn't apply to them, though they could possibly capitalize on this.
The Bad: Expect for car prices to continue to rise on top of already inflated pricing. Car prices have elevated due to supply shortages and this shortage will only get worse. Keep in mind that semiconductors require Neon gas to be produced, and 70% of the global supply comes from Ukraine, which is currently fighting a war, so there is a good chance they are not focused on Neon gas production.
The Ugly: Expect for elevated car prices to stay inflated, paired with elevated interest rates. Unless you are paying cash, you are paying alot more to borrow only for less value/buying power.
https://www.cnn.com/2023/09/15/busin...uaw/index.html
"Buying a car? What the UAW strike means – and doesn’t mean – for auto sales"