Home › Forums › Financial Markets/Economics › Wow…Auto sales TANKED
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JWM in SD.
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August 1, 2007 at 11:13 AM #9669August 1, 2007 at 12:45 PM #69230
lindismith
ParticipantNo, no surprise. Interesting that the industry is already dialed into the mortgage mess. From the same article:
“You’ve got a consumer right now that’s really being stretched,” Merkle said. “In many cases debt levels are incredibly high to the point where you’re seeing a lot of foreclosures.”
It’s not just going to be big-ticket items. It’s going to be everything.
Where’s that thread about the tipping point? I think whoever started it was dead on.
August 1, 2007 at 12:45 PM #69301ParticipantNo, no surprise. Interesting that the industry is already dialed into the mortgage mess. From the same article:
“You’ve got a consumer right now that’s really being stretched,” Merkle said. “In many cases debt levels are incredibly high to the point where you’re seeing a lot of foreclosures.”
It’s not just going to be big-ticket items. It’s going to be everything.
Where’s that thread about the tipping point? I think whoever started it was dead on.
August 1, 2007 at 1:01 PM #69234bsrsharma
ParticipantA couple of inflexion points in Auto sales. Toyota is now #2 in US and probably will be #1 in the world this year.
Overall imports beat US automakers for the first time (50.2% market share). Higher gas prices, more housing pain will probably push this higher – creating mini vicious cycle for Detroit.
August 1, 2007 at 1:01 PM #69305ParticipantA couple of inflexion points in Auto sales. Toyota is now #2 in US and probably will be #1 in the world this year.
Overall imports beat US automakers for the first time (50.2% market share). Higher gas prices, more housing pain will probably push this higher – creating mini vicious cycle for Detroit.
August 1, 2007 at 2:19 PM #69264GoUSC
ParticipantMy step-dad works in the auto industry in Socal (California Automobile Dealers Association). Couple tidbits of info I received lately:
The business is soooo bad. The longest slow period in the last 20 years. For example…Toyota dealerships who used to sell 600–700 per month..are now selling less then half.
For example….one American brand dealer at Redlands Auto Center sold 43 new cars in July normally approx. 120.August 1, 2007 at 2:19 PM #69335ParticipantMy step-dad works in the auto industry in Socal (California Automobile Dealers Association). Couple tidbits of info I received lately:
The business is soooo bad. The longest slow period in the last 20 years. For example…Toyota dealerships who used to sell 600–700 per month..are now selling less then half.
For example….one American brand dealer at Redlands Auto Center sold 43 new cars in July normally approx. 120.August 1, 2007 at 2:43 PM #69276Participant“The business is soooo bad. The longest slow period in the last 20 years”
If anyone wants a flashing red light about the coming recession, this is it.
August 1, 2007 at 2:43 PM #69347Participant“The business is soooo bad. The longest slow period in the last 20 years”
If anyone wants a flashing red light about the coming recession, this is it.
August 1, 2007 at 3:06 PM #69280PerryChase
ParticipantPorsche has full page ads for the Cayman at $589/mo lease. The high end is not doing that good if they are doing incentives.
Boat sales are also down.
http://www.signonsandiego.com/news/business/20070801-9999-1b1boat.htmlNow, some have argued that the rich are immune so their housing communities are immune as well. I doubt very much that anything under $5 million is immune to the downturn.
August 1, 2007 at 3:06 PM #69352ParticipantPorsche has full page ads for the Cayman at $589/mo lease. The high end is not doing that good if they are doing incentives.
Boat sales are also down.
http://www.signonsandiego.com/news/business/20070801-9999-1b1boat.htmlNow, some have argued that the rich are immune so their housing communities are immune as well. I doubt very much that anything under $5 million is immune to the downturn.
August 1, 2007 at 3:16 PM #69292ParticipantFuture Porsche & boat customers bought too much RMBSs? Now they have to go on diet. Someboady has to suffer when all those BSC hedge funds collapse.
August 1, 2007 at 3:16 PM #69364ParticipantFuture Porsche & boat customers bought too much RMBSs? Now they have to go on diet. Someboady has to suffer when all those BSC hedge funds collapse.
August 1, 2007 at 5:05 PM #69320cr
Participantehhh, ehhhh, EHHHCHHOOOspillover effectsHHHOOOOOO!!!!!
Excuse me, Mr. Bernanke, can I borrow that tissue?
August 1, 2007 at 5:05 PM #69392Participantehhh, ehhhh, EHHHCHHOOOspillover effectsHHHOOOOOO!!!!!
Excuse me, Mr. Bernanke, can I borrow that tissue?
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