longtooth

Misery Loves Company

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Automakers post grim September sales

By Matt Andrejczak, MarketWatch

Last update: 2:46 p.m. EDT Oct. 1, 2008Comments: 8SAN FRANCISCO (MarketWatch) - A shaky economy and constricted credit market took a steep toll on September auto sales, with the industry rolling out numbers Wednesday every bit as gloomy as analysts had warned they would be.

http://www.marketwatch.com/news/story/weak...mp;siteid=yhoof

Sail on o' great ship of state. Well, it's actually the same leaky boat, but all are on board.

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Do you think that anyone makes the connection between being employed and having the ability to buy something, a big-ticket item, perhaps a car?

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We've shipped so many jobs overseas...

Maybe someone in China will think about us when they are buying their car...

Chris

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I've been fiddling on the roof so much lately.... But i guess I can go back up there.

LOL.

For years I have sat on this site and ranted about this very doomsday scenario and how I would laugh when it all falls apart.

I feel like the freakin' Joker since I've been laughing so much.

Maybe, just maybe americans will wake up and see that there are more important things than Paris and her latest stupid sidekick.

I really hate to see the honest people brought down with this economic crisis though. As for me... Well, I already struggle to afford to eat, so bring on the recession, it can't get much worse.

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A lot of us will be stuggling to eat before it is all over with.

Chris

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I've been fiddling on the roof so much lately.... But i guess I can go back up there.

LOL.

For years I have sat on this site and ranted about this very doomsday scenario and how I would laugh when it all falls apart.

I feel like the freakin' Joker since I've been laughing so much.

Maybe, just maybe americans will wake up and see that there are more important things than Paris and her latest stupid sidekick.

I really hate to see the honest people brought down with this economic crisis though. As for me... Well, I already struggle to afford to eat, so bring on the recession, it can't get much worse.

We celebrate functional illiteracy here. As Chris Rock might say; "Keepin' it real, real dumb"... We've nearly become an "Idiocracy". 50 % of the GP seem mostly oblivious to the stark reality of it all and don't see the symbiotic relationships required to maintain an economy. Employed people buy stuff. Since we've tapped all of the equity in our homes and maxed-out the credit cards, the grim nature of the current situation is finally beginning to resonate with a few more people now.

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We've shipped so many jobs overseas...

Maybe someone in China will think about us when they are buying their car...

Chris

like the buick excelles they buy...LOL

to some degree its our own fault. too many people have become preoccupied with style fashion and the whole 'green' movement.

they forget that lots of folks just don't care about that superflous crap....they want a job and all of that and to make money to raise kids and otherwise have a decent living. Our national preoccupation with all that excess crap has taken our focus away from doing the basics right.

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Do you think that anyone makes the connection between being employed and having the ability to buy something, a big-ticket item, perhaps a car?

Nope....

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We celebrate functional illiteracy here. As Chris Rock might say; "Keepin' it real, real dumb"... We've nearly become an "Idiocracy". 50 % of the GP seem mostly oblivious to the stark reality of it all and don't see the symbiotic relationships required to maintain an economy. Employed people buy stuff. Since we've tapped all of the equity in our homes and maxed-out the credit cards, the grim nature of the current situation is finally beginning to resonate with a few more people now.

:yes:

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I've been fiddling on the roof so much lately.... But i guess I can go back up there.

LOL.

For years I have sat on this site and ranted about this very doomsday scenario and how I would laugh when it all falls apart.

I feel like the freakin' Joker since I've been laughing so much.

Maybe, just maybe americans will wake up and see that there are more important things than Paris and her latest stupid sidekick.

I really hate to see the honest people brought down with this economic crisis though. As for me... Well, I already struggle to afford to eat, so bring on the recession, it can't get much worse.

I hope it doesn't get real bad...though I could see it getting much worse....

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"We've nearly become an "Idiocracy"."

True, just look at Sarah Palin, :P

I'm thinking that we are very close to having one, an "idiocracy" that is.

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What bothers me is that the prices for vehicles are not falling to a reasonable level given the current economic circumstances. Dealers are being jerks, holding onto inventory as if it were going to increase in value.

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What bothers me is that the prices for vehicles are not falling to a reasonable level given the current economic circumstances. Dealers are being jerks, holding onto inventory as if it were going to increase in value.

maybe they are hesitant because they are not sure of getting flooring to cover the next car they buy from GM?

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What bothers me is that the prices for vehicles are not falling to a reasonable level given the current economic circumstances. Dealers are being jerks, holding onto inventory as if it were going to increase in value.

I wonder if before the end of the year they will have 75-90% off fire sales to clear out '08 HUMMER and truck and SUV inventory :)

Edited by moltar
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Does anybody still want an H2? Seems like yesterday that was the vehicle to own...

Chris

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Does anybody still want an H2? Seems like yesterday that was the vehicle to own...

Chris

I wonder how many have been sold this YTD...

Update: checked the GM sales figures-- 473 H2s in Sept, about 5200 YTD. H3 was a bit more than 3 times those numbers. And 1 H3T in Sept.

Edited by moltar
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What bothers me is that the prices for vehicles are not falling to a reasonable level given the current economic circumstances. Dealers are being jerks, holding onto inventory as if it were going to increase in value.

used car prices are RISING.

it only makes sense.

people still have to drive the same amount, that said, vehicle replacement should occur on the same cycle, unless they pump more $$$$ into keeping beaters on the road.

people returning leases like me, leasing is no longer an option. what is the option to that? buy a new car, which many folks have gotten tight credit. or, buy used because that is the only way they can meet payment.

when i bought my used trex a couple months ago, the sales guy said they had their best used car month ever.

people can't lease or buy new, but are driving the same amount. what does that mean?

Used cars go up in value. Also, repair shops make more money.

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My local dealership raised the prices on their 2004 Cavalier 2drs (32k, 35k) from 8995 to 12995( US) overnight.....

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I had a son (mid-30s) and father (late '70s) on the lot today, looking at the Malibu. Son was unhappy. Why, I asked. Dad's '97 Cavalier is costing him money. It's a piece of junk. Really, I asked. What's the mileage: 160,000 MILES. WTF? Piece of junk? 12 Canadian winters? What's it worth, son asks. Are you kidding me? I retort.

Not starting off on the right foot, I'd say. He wanted me to tell him it was worth $1,000, then added the imports hold their value better. Buddy, I replied, a 12 year old Camry with that kind of mileage would be worthless - don't fool yourself. Do you want the truth, or do you want me to blow sunshine up your skirt?

I won them over with my charm - eventually, and they went off to drive a new VW, then a Fusion and came back to buy the Malibu. :smilewide:

Small victories.

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What bothers me is that the prices for vehicles are not falling to a reasonable level given the current economic circumstances. Dealers are being jerks, holding onto inventory as if it were going to increase in value.

Once again, my friend, you are out-of-touch with the automotive business these days as it relates to dealership profits.

We actually had a guy come in today (and he was dead serious) offering to buy a new Escalade for only $25,000 plus taxes and fees. His rationale was that the "market had fallen out from underneath us" and that these trucks were "serious drains on our dealership pockets" and that we had to "move them at any cost possible."

Right now, with current incentive levels and dealer discounts, you CAN get a new Escalade with about an $11,000 discount. That brings a $70,000 Escalade down to below $60,000.....I'D SAY that's quite a nice discount....and definitely a reasonable level of pricing given current economic conditions.

(Plus, for what it's worth.....we aren't suffering that bad with Escalades......I sold two of them myself within the first 5 days of the month.....)

Dealers aren't being "jerks"......they are simply trying to survive.....and <gasp> maybe make a bit of a profit...?

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