car sales for FEB
 

:panic:

:pwhore2:

I'm not surprised.

It's only going to get worse. The car companies are fucked.
Currently I'm leasing a GMC Acadia. The sticker price on it was $37K and I got it for $34K. The residual at the end of the lease is $23K meaning I'm only paying for $11K of vehicle. My lease is on for another year still and the retail value on a 2007 Acadia is under $20K. By the time my lease is up the car will be worth less than $16K and I won't buy it when the lease is up. GMC is going to lose well over $10K on that deal. In the next 1-2 years there will be all these lease returns flooding the market driving the used car price down even further while keeping the demand for new cars low. The auto makers better hold on cause it's going to be a very bumpy ride for the next several years.

This is part of the reason why there are currently no good lease deals out there, and probaly won't be for a long time.

Think I'll try to hold onto my truck until next year.
It will be refreshing for the dealerships to be bending over backwards to make a sale.

How long is your lease?

GM is getting hosed on that deal.

39 months

Obama will infuse billions more into GM/Chrysler, while Toyota continues to loose 40% for another year.

I wouldn't be surprised if the Obama admin imposes a tariff for non-union made automobiles. lol

Unions are whats fucking wrong with the auto industry. Paying some uneducated fuck $26 for a job a monkey can do is ridiculous.