Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Having heard from a high executive in one of the manufacturers.
Daily sales figures have dropped dramatically.
Combine this with COVID-19.
Combine this with the massive drop in the stock market.
Loss of savings. 401K, mutual funds and other types of investments.
Depression or Recession.
People are not buying new cars, Suv's, trucks, etc. Yes, there are some exceptions. There are always some with recession proof jobs.
Some manufacturers have already closed manufacturing plants. Some state for the health of the workers. But - also to cut excess inventory.
Although all recessions are not the same. There are some common points.
First being that people do not spend money that they do not have nor future income that they may not get.
New vehicle sales are tanking - currently.
When will the substantial rebates and incentives come?
I really hope the auto execs are worried more about the workers and their families than they are when the substantial rebates and incentives come into play.
I really hope the auto execs are worried more about the workers and their families than they are when the substantial rebates and incentives come into play.
I really hope the auto execs are worried more about the workers and their families than they are when the substantial rebates and incentives come into play.
This is why you would NEVER make it as an auto exec.
The purpose of a corporate executive is to worry about returns to the shareholders. Everything else is secondary. That doesn't mean that basic considerations of human-life and wellbeing are somehow trivial or irrelevant. But it does mean, that an executive must foremost look after the health of the company. True... dead consumers don't buy cars. But this simply means that concern for the consumer, is foremost driven by concern that the consumer will be buying cars.
I really hope the auto execs are worried more about the workers and their families than they are when the substantial rebates and incentives come into play.
you cant help the workers and families if you dont have revenue coming in.
Its not just Auto industry in that boat. I just cant imagine anyone going car shopping right now lol
I know, BUT...........last fall, my wife started thinking about getting a new car. The one she had was a good runner, didn't have a huge amount of miles on it, but was 11 years old. We went shopping, and saw something that appealed to her. However, the few cars the dealer had in stock didn't appeal to us, either because of color or options.
The dealer said it wouldn't be a problem to order one, but it would take 12-14 weeks to come in. It wasn't an issue for us to wait, so mid-December we placed an order, thinking it would arrive after the snow had ended, for the season. All went well, and we picked up the car 2.5 weeks ago. A little earlier than expected, but no big deal.......................then the bottom of the damned stock market fell out.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,585 posts, read 81,206,701 times
Reputation: 57822
Quote:
Originally Posted by SVTLightning
Its not just Auto industry in that boat. I just cant imagine anyone going car shopping right now lol
There are those who may actually benefit financially from this crisis, with overtime. Such as supermarket staff, some warehouse workers, medical people, EMTs. Then there are those who are not affected by layoffs or loss of revenue in key or critical functions such as police, fire, and many city/state/county workers, and public utilities. For them, with consistent or better incomes, this would be a great time to buy a new vehicle. Better yet, in a few weeks when the dealers are really hurting.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
