Cars are popular again!

[Oillover]

At least in Canada

"But after the increase of interest rates and inflation as a whole, affordability has become the main concern," he says of the latest moves by the Bank of Canada to clamp down on rising costs. Ross, who is the senior manager of automotive industry insights at CBB, says that's driving buyers toward smaller, used vehicles rather than previously popular SUVs, pickup trucks or new vehicles with higher market prices — a trend expected to continue for the next 12 to 18 months"

12-18 months, I say hogwash!
It's gonna take a lot longer than that for folks to get their finances in order to be able to afford a fancy SUV/Truck again etc.
Manufacturers are gonna be falling over each other trying to get more cars to market.

I understand there's more to this than simple supply and demand (governments, emissions etc) but hey, I'll take this as a good sign for cars making a comeback!


https://ca.style.yahoo.com/used-car...H9rcEkggxeDX3-ukXsJULkIY6vUvKXyfGkTIh48xEtiJl

 

[JohnnyG]

2018 baby! No touch screens/no laptop stuck to the dash! Real buttons.

 

[jeepman3071]

Inflation has hit people hard. I notice it with my small engine side business. People are putting off major repairs, commercial companies repairing old equipment instead of buying new, and stuff I sell on marketplace has been moving slower than ever. It's clear not many people have extra cash laying around. Two years ago I would sell every used piece of equipment I listed within a few days.

 

[The Critic]

Inflation has hit people hard. I notice it with my small engine side business. People are putting off major repairs, commercial companies repairing old equipment instead of buying new, and stuff I sell on marketplace has been moving slower than ever. It's clear not many people have extra cash laying around. Two years ago I would sell every used piece of equipment I listed within a few days.

I think this is very regional. In my area shops and contractors still have more work than they can handle, no one appears to be slow.

 

[Quattro Pete]

I'll take this as a good sign for cars making a comeback!

I think this article is using the term "cars" rather loosely, meaning "vehicles" in general as opposed to cars/sedans specifically.

Around here, I'm seeing people buying smaller vehicles, but they're primarily smaller SUVs, not necessarily cars.

At least here in the US, there are very few new cars (sedans) still being made/offered. They won't make much of a comeback if there aren't any to be bought.

 

[CKN]

I need a bathroom remodel. Probably $15,000 to $20,000 total. I can't get anybody to even consider the job. "It's too small". Contractors can pick and choose here-they are so busy.

 

[jeepman3071]

I think this is very regional. In my area shops and contractors still have more work than they can handle, no one appears to be slow.

I need a bathroom remodel. Probably $15,000 to $20,000 total. I can't get anybody to even consider the job. "It's too small". Contractors can pick and choose here-they are so busy.

I agree with the above, but it seems to be more of an issue where contractors and shops can't find good help, so they are very selective with their business. I still have to turn people away, because I only fix small engines in my free time and can only handle so much volume, but I have noticed the above in my previous post from long time customers who normally would be less fiscally minded. The shops that exist are extremely busy, but there are also less of them to chose from. My BMW has a recall, and two local dealers said they are hurting for techs and are backed up.

 

[AZjeff]

Two years ago I would sell every used piece of equipment I listed within a few days.

Maybe 2 years ago people couldn't find new equipment to buy?

If car assembly lines were disassembled not just shuttered don't hold your breath for new cars to magically start showing up on lots.

 

[jeepman3071]

Maybe 2 years ago people couldn't find new equipment to buy?

If car assembly lines were disassembled not just shuttered don't hold your breath for new cars to magically start showing up on lots.

I think it is both. New equipment was hard to find, but also the prices on equipment now are crazy. I honestly don't think we will see more cars, I think people will just be buying less.

 

[IndyIan]

I have noticed in my area, prices for well used older cars, specifically hatchbacks and wagons 8-10 years old have dropped 25-33% percent from 6-9 months ago. Stuff with warranty left or 4-6 years old has dropped a bit too, but not as much.
I think all the $60-100k SUV and pickup buyer have bought now too, so RAM is starting to discount its plainer pickups as well...
My BIL just rented an Elantra and got over 55mpg (on the dash) on a 55mph highway trip so I think the high gas prices here will support actual car sales than SUV's with people who just need reliable simple transportation.

 

[cptbarkey]

Personally i'm getting tired of the panic low supply better buy yesterday pandemic shortage news articles. I'm in the market for a tractor, but going to wait this one out for the opposite folks who buy high and sell low. Already seen a few "divorce" and "need cash flow" listings.

 

[PF52]

I think this article is using the term "cars" rather loosely, meaning "vehicles" in general as opposed to cars/sedans specifically.

Around here, I'm seeing people buying smaller vehicles, but they're primarily smaller SUVs, not necessarily cars.

At least here in the US, there are very few new cars (sedans) still being made/offered. They won't make much of a comeback if there aren't any to be bought.

I agree with this whole post. Americans love their SUVs and will go deep into debt to have them, while regular cars languish on the lots or get discontinued due to poor sales.

 

[SwampSurvivor]

I've said it before and I'll say it again.

This should be in more driveways in the USA than it is ..

 

[cb_13]

I agree with this whole post. Americans love their SUVs and will go deep into debt to have them, while regular cars languish on the lots or get discontinued due to poor sales.

I blame safety ratings. My wife swears that our entire family will die if we don’t have an under 5 year old, top safety rated car to take on trips.

I’d rather stay home anyway. I don’t have now nor have I ever had any desire to travel or sight see, just a tremendous waste of time and money. She’s not ok with my solution so every few years we get a new family car.

 

[AZjeff]

I've said it before and I'll say it again.

This should be in more driveways in the USA than it is ..
View attachment 175553

You're right -Versa S 5mt with a 1.6L MSRP + shipping $17,075.

Is there one in your driveway?

 

[SeaJay]

I think this article is using the term "cars" rather loosely, meaning "vehicles" in general as opposed to cars/sedans specifically.

Around here, I'm seeing people buying smaller vehicles, but they're primarily smaller SUVs, not necessarily cars.

At least here in the US, there are very few new cars (sedans) still being made/offered. They won't make much of a comeback if there aren't any to be bought.

I suspect SUVs and Pickups of all sizes are what the majority of buyers still want to drive.

 

[CKN]

I've said it before and I'll say it again.

This should be in more driveways in the USA than it is ..
View attachment 175553

The issue being is that you have to buy one from a Nissan Dealer. And most of them are terrible. And the dealers are like everybody else-they want to sell what people want. The new Pathfinder is going crazy. Up almost 200%. And I'm thinking more margin on that than a Versa. I'm betting the average income of a Pathfinder buyer is higher than average as well.

 

[Oillover]

I suspect SUVs and Pickups of all sizes are what the majority of buyers still want to drive.

I totally agree, but the reality of things is that these vehicles are quickly becoming out of reach (due to cost and availability).

At the end of the day, folks need to get around.
The majority of North America does not have an efficient public transit system, so folks need to find independent transportation that meets their needs, at a price that doesn't make them have to re-evaluate their priorities in life....this is why smaller vehicles are becoming more popular (from a basic needs perspective).

 

[SwampSurvivor]

You're right -Versa S 5mt with a 1.6L MSRP + shipping $17,075.

Is there one in your driveway?

We have a Sentra if that counts :O

 

[PF52]

We have a Sentra if that counts :O

LOL I saw the picture and thought it was a Sentra.