On the news tonight: average used car selling price is now $33,341. iirc average new car price is now about $45,000.
My 2014 VW Jetta wagon was about $21,000.
Steve
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Its not surprising that Asia can manufacture semiconductors cheaply. They are easy to ship. Some say a years production will fit in a shoebox.
The surprise is that you can manufacture an automobile in Japan or Korea and ship it across the ocean to sell in the US at a profit.
That seems to emphasized the bloated prices we tolerate for autos in the US. Most are priced well over steak prices. $20/lb and up.
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On the news tonight: average used car selling price is now $33,341. iirc average new car price is now about $45,000.
My 2014 VW Jetta wagon was about $21,000.
Steve
My little 2016 Micra gets driven ~ 3000 Km a year, it rarely leaves the city limits.
It got new tires, a battery, wipers and oil change some months back. It may become my last owned car. I can walk to Costco, Walmart and Superstore in about 10 minutes and take a cab home.
Anymouse
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My little 2016 Micra gets driven ~ 3000 Km a year, it rarely leaves the city limits.
In a normal year, I average 8-10,000 miles. Received a survey from VW yesterday regarding my visit to the dealer service department Wednesday. As usual, I gave a glowing review of both the dealership and my car. All was well, as I clicked the “next” button, as I worked through the survey, until I got to the notice that my review would be published all over Google, rather than only sent to VW owner relations, which had been the norm. Then, I clicked the “cancel” button.
Steve…monetize me not
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https://mishtalk.com/economics/a-flood-of-repossessed-cars-p…
A Flood of Repossessed Cars Poised to Hit the Used Car Market
Now is one of the worst times ever to buy a car. Wait six months or a year and things will be different.
An investigation in late 2021 found that up to 50% of the loans were given to customers who might not be able to afford them. The income and employment verification only happened 4 percent of the time. All of this means that more and more customers are starting to default.
https://www.msn.com/en-us/money/markets/rise-in-repossession…
Repossessions of vehicles are surging, and have even doubled among so-called “prime” borrowers, or people with good to excellent credit scores who are considered the least likely to default on their lows, Lisa Beilfuss Popeo, a senior writer for Barron’s, told CBS News.
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