Wow…Auto sales TANKED

[GoUSC]

Wow…that is pretty a pretty noticable drop. And the big news is that even TOYOTA tanked.

Not really surprising to us Piggington’s though.

http://biz.yahoo.com/ap/070801/auto_sales.html?.v=6

[lindismith]

No, 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.

[lindismith]

No, 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.

[bsrsharma]

A 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.

[bsrsharma]

A 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.

[GoUSC]

My 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.

[GoUSC]

My 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.

[bsrsharma]

“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.

[bsrsharma]

“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.

[PerryChase]

Porsche 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.html

Now, 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.

[PerryChase]

Porsche 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.html

Now, 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.

[bsrsharma]

Future 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.

[bsrsharma]

Future 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.

[cr]

ehhh, ehhhh, EHHHCHHOOOspillover effectsHHHOOOOOO!!!!!

Excuse me, Mr. Bernanke, can I borrow that tissue?

[cr]

ehhh, ehhhh, EHHHCHHOOOspillover effectsHHHOOOOOO!!!!!

Excuse me, Mr. Bernanke, can I borrow that tissue?

[Author]

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