Walmart today is probably the leading economic indicator for what money people have to spend or are willing finance. I have watched a couple programs on repossessions, one on the discovery, the other operation repo for cars, planes, cars, work vehicles, you name it. Repossession is nothing new, but the rate this occurring today is. Its become a billion dollar industry. The one I viewed on the Disovery Channel is the east coast mostly the Jersey area, operation repo is California, but this is going on 24/7 in every State. With all this going on the car makers still believe its reasonable to be selling vehicles from $20 to $40k, then there's insurance, gas and maintenance, etc etc...........guess there's a reason why so many are sitting on the lots...........and if one purchased a toyota for $25k+, and having problems or recall makes it even more bitter. If it wasn't escalating home prices, it was the vehicle. We see what this all brought about within the auto industry, and imo it will get yet worse. In general most people cannot really afford them, like so many could not afford the homes especially when the were purchased with a teaser rate........who wants to finance a car for 6 or 7 years?.........thats crazy. The car makers need to get on board with reality, it not necessary to have 10 to 20 computers telling the car what to do, thats what the operator is for.
AI
