Scot likes this story as stocks are leading indicators for a lot of economic events. This video is perhaps another more accurate way to look at peak auto:
Article Categories
Archives (2003-13)
Recent Articles
Recent Episodes
- Podcast
- Events
- Support
- About Viewpoint Vancouver
- City Elections 2022
- Climate Change
- COVID Place making
- The Livable Region
- Transportation
- Urbanism
- All The Livable Region
- Business & Economy
- Energy & Resources
- Governance & Politics
- Housing
- All Transportation
- Cycling
- Infrastructure
- Motordom
- Public Transit
- Walking & Mobility
- All Urbanism
- Architecture
- Art & Culture
- Design & Development
- History & Heritage
- Policy & Planning
- Nature & Public Spaces
- Podcast
- Events
- Support
- About Viewpoint Vancouver
- City Elections 2022
- Climate Change
- COVID Place making
- The Livable Region
- Transportation
- Urbanism
- All The Livable Region
- Business & Economy
- Energy & Resources
- Governance & Politics
- Housing
- All Transportation
- Cycling
- Infrastructure
- Motordom
- Public Transit
- Walking & Mobility
- All Urbanism
- Architecture
- Art & Culture
- Design & Development
- History & Heritage
- Policy & Planning
- Nature & Public Spaces
Answer: No. There’s currently an oversupply of used vehicles (particularly huge fleets of off-lease) which is temporarily depressing new car sales. Why pay $30k when you can pay $20k. Lease vehicles hit a record last year, triple the number in 2009, during recession, when auto sales hit their last low. Markets, like nature have cycles. Also in nature, mountains often have more than one peak.
30 years ago I read: ‘How to drive it forever’, and took it to heart. It should be required reading for those entering the life of motobox servitude. The ignorance of those so enamoured of owning is shocking. I met a woman who was still making payments on a Volvo she hadn’t owned for over a year. She didn’t understand the oil change thing.
I’ve been an obsessive reader of the Lemon-Aid guides. Why do people buy such stupid vehicles when the information is right there. People keep trading in their rides because they buy badly.
There is the canard that it’s wise to buy used. Not so. It’s best to buy the right vehicle new that you will drive maybe not forever, but decades. Used is a suckers’ game. My knowledge of used vehicles is top one percentile – to find something good is virtually impossible. If you can’t afford to buy a base econobox new, you shouldn’t be looking at used crap. Take the bus, or a bicycle; do carshare, or carpool.
Car dealers have a well-deserved infamy.
Re. buying off-lease – more suckers’ game. You think lessees treat these things carefully? Dealers buy used vehicles at auction – lots of BMWs and salt their lots with them. Makes it look like people are trading them in. Not so. People don’t dump good vehicles. Ever look at repair costs on a luxobox? Your clever buy will break you.
Generally, there’s more cash to a car dealer in used than new. The numbers are easily fudged. There’s a brilliant book called: ‘Don’t get taken every time”. More required reading.
I doubt that my daughter will ever buy a vehicle. She understands the financial burden. My son? Well, boys are pretty stupid about these things.