Uncertainty brings a lot of saving and no spending -- and in my lifetime we've never had this much uncertainty. Consumer spending is 75% of our GDP. No spending brings a downturn in the economy -- and more uncertainty.I agree, cut my taxes and maybe I'd be willing to spend more. As it is I'm saving all I can for retirement. Wife wanted me to buy some new underwear, told her no way they are good for another year.
Seeing as how the price of underwear will probably be higher next year, the prudent thing to do would be to buy it now, but save it for next year!Wife wanted me to buy some new underwear, told her no way they are good for another year.
With that logic you will need a big storage shed. There aren't too many commodities that go down in price. Now if the economy really goes way south, you may see this behavior a lot more if inflation skyrockets. That of course can create a death spiral. I would then await with glee the tweets describing who's fault it is.Seeing as how the price of underwear will probably be higher next year, the prudent thing to do would be to buy it now, but save it for next year!
This is assuming the underwear price increase will be more than what the money would earn in a savings account..
Sources indicate that production will be cut by about 20% once the Detroit-Hamtramck assembly plant reopens to adjust for the slow pace of sales for models manufactured at the facility.https://www.cnbc.com/2017/10/12/gm-plans-to-temporarily-shut-down-detroit-factory-report-says.html
Looks like they won't be producing Volts, or three other models, for the last six weeks of the year.
For now maybe, but if gas prices head up then the SUV craze will lessen. Sedans will always be around. There may be less choices but there will be some.Of the 518 vehicles on the local Chevy dealers lot, 62 are cars.
The sedan is an obsolescent platform.
Sure, there will always be some sedans around but I don't give the "gas crisis will save the sedan" argument too much weight.For now maybe, but if gas prices head up then the SUV craze will lessen. Sedans will always be around. There may be less choices but there will be some.
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It is a little sad. My son also has no interest in cars. Most manufacturers are now involved in some form of autonomous transportation research for just this reason. The entire concept of transportation is changing, and these companies don't want to be left behind in the horse and buggy age.I'm not certain the lack luster new car sales are a result of a down turn in the overall economy. I suspect it's more the fact that millennials are simply not as interested in buying cars as previous generations were. I have 19 nephews and nieces, all millennials, and only one nephew really gives a damn about cars. Many of them don't own a car. They use mass transit and/or Uber everyday. They can certainly afford a new car but they grew up with their parents hauling they everywhere and they kinda like that. It's just a different mindset I suppose.
Looks like if you are on the Volt line you're on the block. But if you are building Impalas you should be fine.Good graphic showing slowing sales for GM models produced at the Detroit-Hamtramck assembly plant including the Volt:
Year over year sales for September for the Volt were down 28%. GM currently has more than a 100 day supply of Volts, 60 days is the industry norm.