Car market tanking... again!!

NVSTR

This is why I believe people will keep their cars even longer and companies like Autozone, and O'reily, etc. will keep going higher and higher as owners keep and fix their used cars. One of the VERY few individual stocks I own and up my stake in every now and then. Financing options will just keep getting more and more stupid as time goes by.

Rusty

Couple of thoughts on this.

Read an article on Fox News about car loans last week. Basically says that they are getting out of hand with the length of them. People are really getting up side down on them from the beginning. And it's creating a debt bubble.

GM has said that it's 2020 fully loaded 3/4 ton 4x4 diesel truck will be the first truck priced close to $100,000. Other trucks are getting close to that. The C8 Vette looks like a real bargain compared to the truck.

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FL 4Motion

There is something else at play as far as-longer term planning that auto makers are doing. Ford, Porsche and others are convinced the era of the POV is coming to an end. Ride sharing and car subscription services are viewed (sadly, rightfully so I think) as the future of car “ownership”.

Younger folks don’t see cars like we do, it isn’t Viewed as one of our unspoken constitutional rights-freedom of movement, it’s just an appliance and a pain in ther *** to own. This combined with increasing urbanization makes car ownership a dying attitude. Ride hailing apps and if you’re into cars/have disposable income a car subscription service (no insurance requirements, new car every month to use etc, different pricing tiers) makes more sense.

Car people will be th ones hanging onto and modding used cars and that cottage industry will survive and go on.

In this reality, pickup trucks and cuvs and entry level sedans make the most sense bc people movers are good taxis and trucks appeal to more rural folks who will be the last to give up private car ownership.

The way we view horse ownership now is a good analogy to car ownership 20 years from now, a hobby that is a niche market.

The only sports cars that work in this world, will be high end expensive ones developed with platform sharing to control cost and mostly used in top tier car subscription services offered by Porsche etc. (they’re already offering these services btw).

We’re actually going backwards in our lives bc of this. Prior to the mass production of affordable automobiles (thank you Henry Ford), freedom of movement was restricted to wealthier folks who could own a horse drawn carriage an keep a driver too, or own horses. The majority of the population if they wanted to move about the country or landscape were dependent on a large company for rail travel or a stagecoach ride to fixed destination points. The car democratized transportation, improved access to employment opportunities and affordable housing and helped make our country what it is today.

Now the suburbs are viewed with disdain, urban shoebox living we’re told is better, houses are being made with less emphasis on garage space nd we once again cannot move about without the control from the govt or a corporation. We are selling out our freedom for a cool app on our phone and a supposed “lower carbon footprint”. Even though cow farts contribute more to global emissions than autos do. They’re coming for our steaks next btw.

Firebase99

Case in point a well optioned out Lincoln Navigator will set you back well NORTH of a 100 grand. Thats right.

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Rusty

The EU has it already mandated for no more fossil powered vehicles after 2030.

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Spooler

Hence, why I still have my 2004 Dodge Ram 3500 dually that is paid for. I am not paying 60k to 90k for a truck with all the emissions troubling crap that breaks like crazy. Not happening.

Rusty

That's one of the reasons why I'm hanging on to my Power Wagon. A new one is $60,000 plus and loaded with computer nannies that suck for off road use.

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浪人 - 殺し屋
"The Difficult Anytime, The Impossible By Appointment Only"
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Zingston

Yep... same for my hemi 4x4 commander. Keeping that for a lot longer. Next maintenance project is new hub assemblies all around.

Rusty

I did the Dynatrac free spin hubs with RCV axles, Carli ball joints, Carli heavy duty control arms, Thuren springs and steering linkage on the front of the Power Wagon. Next is custom valved 3" King shocks. My custom valved Bilstein 7100 shocks are shot.

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"The Difficult Anytime, The Impossible By Appointment Only"
http://www.the370z.com/members-370z-...o-journal.html

UNKNOWN_370

Seems they want ECONOMY cars to cost $30k.
And normal cars between $45 and 60k.


The inflation rate doesnt match the middle class income average. If the "real world economy" doesnt str8en up. Theres going to be a lot of restless natives. Homes are overpriced, CAR PAYMENTS are crazy and theres a tax surcharge and interest rate on everything from your car to gas to home to picking your nose... not to mention the ridiculous insurance pricing on a person 45+. It seems like they dont let up on males. No matter what our bracket is.

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FL 4Motion

Mmmmm, dynatrac... (Homer Simpson voice)

Would love a set of prorock 60s. Rusty, if you’ve got a spare $13k burning a hole in your pocket, you know what I want for Xmas.