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Clunkers aid Ford, Toyota sales; GM, Chrysler fall
Well, given that all U.S. taxpayers currently own (at least in theory), pieces of both GM and Chrysler, not sure that this is exactly good news.
Suspect the next thing we will be reading about in 6-months is about the high percentage of the folks who, after participating in the cash for clunkers program, are defaulting on their auto loans...gee, an opportunity for another bailout perhaps? :LOL: |
But hey, the clunkers program was a "success!" I mean they only spent 3 billion dollars on scrap metal. This in turn stimulated the auto industry..... Ok, now we've looked at the little picture. Now lets take a look at the big picture....
Scrap prices dropped, what's the 3 bil gonna cost in the long run, and what can the auto industry expect for sales for the rest of the year....maybe even into next year! now lets add all these people who hadn't bought a new car in so long because in reality they couldn't AFFORD one. Now they have it, the price of food is skyrocketing, fuel going up, winter on the prowl, and unemployment still on the rise. Ya... sounds like success to me! |
Yep, the answer to our economy is to encourage people to borrow more.
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;)
But the Govt. just prints more money. The people can't. Instead of a cash bail out I would like a money printing press. Ron :LOL: |
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Heard on the radio yesterday that GM is mulling over building a factory in China.
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August 09 sales against August 08 sales, DOWN 20 and 15 % for GM and Chrysler. Up 47% and 60% for Kia and Hundya.
Cash 4 Clunkers certainly was NOT a success for GOVERNMENT MOTERS. |
I believe that unless the Govt. and union get out of GM they will never be able to recover and compete with some of the others. The Govt's job is to run the country, not compete in private business and they can do neither effectively.
Ron :rolleyes: |
Has anyone else noticed that the Cash for Clunkers Program got a lot of Obama bumper stickers off the road too ?
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I talked to a Miata salesman the other day. They have a million out on the street in C4C money and have only been paid for 4 vehicles so far.
Roscoe |
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