In what is being taken as another sign of an incoming recession, auto sales across the board are down—and down significantly.
Often used as a strong indicator of a healthy consumer economy, auto sales provide an early warning signal for economists and businesses hoping to forecast our unpredictable economic future.
U.S. auto sales crashed by 6.1% throughout the month of April 2019, to 16.4 million units sold.
This is the biggest drop since May 2011 and the lowest amount of sales throughout a month in over five years.
A similar story is unfolding all across the globe, pointing to a much wider problem within the industry.
However, I believe that there is more to this story than first meets the eye.
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11 comments:
It could be because the damn cars and trucks cost so damn much, and people are driving what they have longer. Just because car sales are down the world will not end.
Ditto
trucks cost what i paid for my house back in 2001
No, people are being convinced to LOWER their payment to something they still can't afford. Guess what? They still can't afford.
If Mercedes cars were banned in OC, there would not be any traffic.
Greedy car manufactures charging outlandish prices and you wonder why people are not buying.
Never buy retail.
"Greedy car manufactures charging outlandish prices and you wonder why people are not buying. "
Partially because of union labor costs, but mainly because of all the government mandates that must be met.
EVERY TIME the government gets involved, the price goes up. Health care, college, you name it.
Watch what happens to college tuition if these college loans get forgiven..
Right on 6:40. What IDIOT pays 70 grand for a truck??
Sam's Club has the best auto buying program around for it's members.
I agree with the above comments. Another large factor is that vehicles are lasting much longer these days. To compete with some of the Asian manufacturers, our big three had to make cars more reliable. At my vehicle repair business we regularly service vehicles with over 200,000 miles and service more than a few with over 300,000 miles. When the business was started almost 23 years ago this was not the norm.
It's the norm not because of the vehicle lasting longer. It's because people refuse to pay the big sticker for new. They rather pay you a couple of hundred than tens of thousands.
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