121–130 of 376 posts
Awesome. My 20 year old car is in great shape but it is getting older and I will need to replace it sooner or later.
Apparently you won't get much for it, then. I'm kind of in the same boat, but I'd really like to get an electric model that's been produced for a few years, which means there won't be much on the used market.
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That's not really comparable at all. A color tv is a fundamentally more distinct product as compared to a b&w tv than a ICE cars is compared to an electric. Especially for the foreseeable future.
Lol in what way?
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Production of the Chevrolet Bolt has stopped due to lack of demand and bulging inventory, part of the overall problem discussed on this thread http://fortune.com/2017/07/17/gm-shutdown-chevy-bolt-supply/
All other articles and GM comments say that the extended summer shutdown is to increase Bolt supply, not because there is too much supply already. The Bolt outsold both of Tesla's vehicles last month. The Sonic has weak sales, so during the shutdown they're reconfiguring the plant to make 1 Bolt for every 1 Sonic, where it was 1:2 before.
The article says GM sold only 7,592 Bolts in the first six months of this year. Tesla sold way more, and it makes a much higher profit per vehicle.
I don't know why Bolt sales are so low. When it came out the reviews were all very positive, and they said it would be strong competition for the Tesla Model 3. But the Tesla already has several hundred thousand pre-orders, whereas the Bolt is basically going no where.
I just bought a new van. It was rediculously easy for me to get a loan for 105% of the retail price (and I didn't even pay retail). I opted not to get the full loan for obvious reasons. But the fact that I could is frightening. There will be so many people underwater on their loans. The car bubble is coming and it's going to pop hard.
[1] https://www.edmunds.com/car-buying/how-fast-does-my-new-car-...
This may be temporary, as services like Uber/Lyft increase, and the possibility of Autonomous Vehicles driving down the cost of those services. This would cause the volume of new cars needed to dramatically fall, leading to increased cost of those new vehicles. This would increase the value of used vehicles that are currently priced in. Would love to hear differing opinions :)
"Would love to hear differing opinions :)" Erm... A decrease in demand does not lead to an increase in price.
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Could you tell us more? Was this in some niche segments of discontinued but popular models (like certain Subarus) or were run of the mill cars also like this?
I think 2012 was the peak of this, with some models literally being cheaper out the door new than 1 or 2 years old. http://business.time.com/2012/03/22/when-new-cars-are-cheape... http://genxfinance.com/buying-a-new-car-may-actually-be-chea... Short version, a couple of things hit at the same time. I don't think Cash For Clunkers was involved as those cars were much older than the 1-2 year old ones, but it was more a…
I'd love to find a bunch of cars just "driven off the lot" I could get that discount on.
The average used car costs $15,300? That seems pretty wild. Are the classic Porsches that sell for $10 million dragging the average up?
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When new car sales move to electric from gasoline, you'll start to see gas stations go out of business...slowly at first but accelerating as the percentage of gas powered vehicles declines. You'll still have your car and be allowed to drive it, but the days of just finding a gas station wherever you need them will be over. Much like early days of electric cars, people will need a concrete refueling plan for every tri…
Or we'll see "gas" stations incrementally change to "gas-n-charge" stations. As society moves from liquid hydrocarbons to electrons for personal transportation I can see no reason why these locations won't adapt. After all, people will still ingest their liquid fuel and expel their waste. ;-)
This may be temporary, as services like Uber/Lyft increase, and the possibility of Autonomous Vehicles driving down the cost of those services. This would cause the volume of new cars needed to dramatically fall, leading to increased cost of those new vehicles. This would increase the value of used vehicles that are currently priced in. Would love to hear differing opinions :)
"Would love to hear differing opinions :)" Erm... A decrease in demand does not lead to an increase in price.
Decreased demand can lead to decreased production, causing further increased prices and further decreased demand.
If the market clearing price rises above the demand curve, production ceases.
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Do you have a link to support this? My comment/link wasn't a dis of EV's, it was pointing out the glut of inventory GM are sitting on, including EV's. If you are interested in a Bolt now would be an excellent time to bargain for one at the dealership...
http://insideevs.com/general-motors-comments-bolt-inventory-... https://cleantechnica.com/2017/07/21/chevy-bolt-production-i...