Quote:
Originally Posted by IK6SPEED
Quote:
Originally Posted by N54Yankee
Quote:
Originally Posted by IK6SPEED
When you have ALL data pointing in the same direction, that's a good one.
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All the data is not pointing to America's love affair is waning. There re many different factors as to why things happen. The fact that a paper tries to steer readers a particular way to those predisposed lemmings to be living everything they read as gospel is what they thrive and make money on. That's a good one is right.
There are many factors that can account for what's going on. Including high car prices, many are keeping cars longer, cars last longer then they used to, high interest rates and none of it has to do with losing ones 'love' of cars.
https://www.forbes.com/sites/neilwin.../#17e370a31063
Not to mention, car sales have always been cyclic. The sky is falling crowd is always quick to jump to conclusions that aren't proven fact merely opinions that are often politically based. That's a good one also.
https://www.statista.com/statistics/...es-since-1951/ |
Seems you are the one trying to skew data.
Of course sales have been cyclical, down in recessions and up in good times. Except, you ignore falling new car sales in the best economy of the last 50 years. And your source ignore the continued slide in 2019 by omitting the data since 2018, which shows a peak in 2017.
You ignore that used car lots are full and cannot get rid of them.
You ignore gasoline tax revenues are down.
You ignore vehicle registrations are down.
You ignore data showing millennials not obtaining Driver's License and Uber/Lyft use.
You ignore all the cut and dry data only to use data that can be adapted to your spin. |
Love FRED stats!
I think we should not try to draw some sort of correlation between miles driven and new vehicle sales. For example:
Telecommuting and gentrification impact both miles, new car sales, tax revenue.
Historically longer loan terms are, IMO, the biggest reason behind reduced sales growth. It obviously takes longer to pay off these loans or at least reach the break-even point where the owner won't take a loss on private sale.
Telecommuting, gentrification, FE standards and hybrid/EV tech have reduced fuel consumption and by extension fuel tax revenues. So changes in revenue are not necessarily indicative of a change in new vehicle purchase decisions.