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Americans can't afford their cars any more and Wall Street is worried

telegraph.co.uk

71–80 of 149 posts

Re: Americans can't afford their cars any more and Wall Street is worried

#71

If only there was a country selling cheap, reliable electric vehicles with extremely low running costs.

Sorry, 200% tariffs for you. And that wasn't even a Trump thing, surprisingly enough.

Sad part is it might still be worth it to buy after tarriffs at the rate American vehicles are going.

Re: Americans can't afford their cars any more and Wall Street is worried

#72

Earlier quoted context omitted.

> If only there was a country selling cheap, reliable electric vehicles with extremely low running costs The missing middle in discussions around Chinese EVs is import quotas (and disconnection mandates). Americans buy over 15 million vehicles a year [1]. Letting China export up to 150,000 EVs into America a year, subject to anti-surveillance measures ( e.g. no phoning home), paid for by the importer and thus--ultima…

I don't even care if china is attempting to surveil me honestly, feels like there are already a dozen American companies trying constantly to collect my data so they can exploit me

A common comment in this context is that the American entities have a greater capacity to influence your life (wreck credit, dob you in, etc) than a foreign one.

Re: Americans can't afford their cars any more and Wall Street is worried

#73

If you had to get a loan for a car, you already couldn't afford it.

Nope. This one out of all the comments in this thread screams out of touch tech guy. 80% of car purchases in America are financed. There are over 100 million car loans in America. Though in a more ideal world car loans should not be necessary, in this one, they very much are.

Just because its necessary to get a car, which folks do usually need in our society, doesn't mean they can afford it...

Re: Americans can't afford their cars any more and Wall Street is worried

#74

Earlier quoted context omitted.

> If only there was a country selling cheap, reliable electric vehicles with extremely low running costs The missing middle in discussions around Chinese EVs is import quotas (and disconnection mandates). Americans buy over 15 million vehicles a year [1]. Letting China export up to 150,000 EVs into America a year, subject to anti-surveillance measures ( e.g. no phoning home), paid for by the importer and thus--ultima…

Soon you’ll want Americans to know how good healthcare is in other countries, or that people in many countries get paid time off to move home , or that people in other countries don’t go into crippling debt for education. No, no. THAT is not acceptable.

>Soon you’ll want Americans to know how good healthcare is in other countries

there is a difference between 'good healthcare' and 'available healthcare'.

the US has some of the highest quality healthcare in the world to those that it is made available to.

the worlds' most rich and famous come to the US for treatment -- and the poorest in the US are among the most plentiful medical tourists to Malaysia and Thailand.

It's hard for foreigners to understand, but these two qualities are not mutually exclusive.

The availability of healthcare is the favorite talking point of those with socialized medicine programs because.... the quality sucks.

How many hundreds of NHS horror-stories are produced a year?

Yes, it's great that they are given a card that says they have medical coverage. It's not so great to wait 6 years for a cancer treatment that is nigh useless by the time the scalpel touches the patient.

Re: Americans can't afford their cars any more and Wall Street is worried

#75

If you had to get a loan for a car, you already couldn't afford it.

That really depends on the interest rate. If the going rate is good (especially 3% or below), why tie up the capital in a car purchase when you can be putting it to work elsewhere?

Re: Americans can't afford their cars any more and Wall Street is worried

#76

Shouldn't they have seen this coming when insurance premiums, rent, etc started shooting up? It's not just healthcare either. Used to be that you could winter paid off 'fun' cars at nice (live security, climate controlled, fire suppression, low risk zip code) storage units for the steep discount on the auto insurance. Where I'm at, the cost of units like this are up by >20%. The introductory rates at new places are m…

Every major market crash (except covid) was more or less the result of circumstances which should have been easy to see coming.

The pattern of bailing out all but the absolute worst in these crashes means that the people taking the risk don't really care about the risk because a backup is expected as long as you're not the most irresponsible.

You don't have to be faster than a bear to outrun the consequences, just faster than the scapegoat.

Re: Americans can't afford their cars any more and Wall Street is worried

#77
post #3

I’ve seen some crazy stories on YouTube about people trading in cars they’re already underwater on just to finance an even more expensive one. I can’t understand why banks keep lending money for deals like that.

It feels like musical chairs. The banks make money as long as the music continues to play.

Re: Americans can't afford their cars any more and Wall Street is worried

#78

If only there was a country selling cheap, reliable electric vehicles with extremely low running costs.

> If only there was a country selling cheap, reliable electric vehicles with extremely low running costs The missing middle in discussions around Chinese EVs is import quotas (and disconnection mandates). Americans buy over 15 million vehicles a year [1]. Letting China export up to 150,000 EVs into America a year, subject to anti-surveillance measures ( e.g. no phoning home), paid for by the importer and thus--ultima…

Farley, the CEO of Ford, keeps pointing this out. He and his management team went to China recently to look at cars and car factories. They were impressed by BYD's cars and terrified by the factory visits. Ford wants to keep exporting trucks from the US, and Farley says that Ford needs to up their game to compete. Latest thinking at Ford is to have three assembly lines side by side, for front, middle, and back of vehicle. Then assemble the three sections. This improves access so you don't have people crawling into the vehicle to install stuff. Robots can do more of the assembly.

Stellantis, is, as usual, screwed up. The only remaining Chrysler product is a mini-van. The Jeeps designed after the Stellantis acquisition are not very good. (A plug-in hybrid with a 21 mile electric range?) The dealers demanded that the CEO of Stellantis be fired for incompetence, which was done. So far it hasn't helped much.

General Motors is still trying to push their "ladder of success": "Start your adventure with Chevrolet", and someday, reach Cadillac. This was a good idea around 1955. General Motors, post-bankruptcy, is a much smaller company than it was before the bankruptcy.

Re: Americans can't afford their cars any more and Wall Street is worried

#80
post #3

I’ve seen some crazy stories on YouTube about people trading in cars they’re already underwater on just to finance an even more expensive one. I can’t understand why banks keep lending money for deals like that.

Long ago I had a girlfriend who was still paying on a Ford Bronco which had broken down. The repair was going to cost $300, which she didn't have. She was able to trade that car in for a brand new one without spending any money. It was literally cheaper (in the short term, of course) to buy a new car than to fix the old one. It was one of the reasons we broke up -- she was the type of person who counted the amount sh…

>It was one of the reasons we broke up -- she was the type of person who counted the amount she could borrow as an asset.

There's a joke about playing for the other team buried in there somewhere, lol.

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