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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Auto companies with record low sales
even Toyota just reported it's worst month in 21 years.
THIS is what everyone is talking about...THIS is what the credit crisis and the bailout means to the average person.
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Posted 10/1/08 5:35 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Auto companies with record low sales
yep. I get no 0% offers in the mail anymore.
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| Posted 10/1/08 5:52 PM |
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AliceCullen
LIF Adult
Member since 6/08 1497 total posts
Name:
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Re: Auto companies with record low sales
I was just at a Toyota dealership with my dad yesterday and they said they are actually doing decent. They said they are selling a ton of small, fuel efficient cars.
Message edited 10/1/2008 6:00:49 PM.
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| Posted 10/1/08 6:00 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
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Beth
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Re: Auto companies with record low sales
Posted by AliceCullen
I was just at a Toyota dealership with my dad yesterday and they said they are actually doing decent. They said they are selling a ton of small, fuel efficient cars.
well- that doesn't help the bottom line or the top line number
if they were selling high end avalons and Sequios (spelling- that HUGE SUV) last year at over $40K each
and now they are selling corrola's and pirus
even if they sold the same amount- their sales would be cut in half or more then half
so while they may still be selling the same amount of cars- their sales can still be way down
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| Posted 10/1/08 7:01 PM |
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lorich
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Member since 6/05 9987 total posts
Name:
Grammie says "Lora Gina"
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Re: Auto companies with record low sales
Posted by Ophelia
THIS is what everyone is talking about...THIS is what the credit crisis and the bailout means to the average person.
EXACTLY!
My DH is a car salesman...he is/was the main source of income in our family.
Needless to say we're worried!
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| Posted 10/1/08 7:10 PM |
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BabyBoy
is Skylar Elizabeth
Member since 5/05 4189 total posts
Name:
Tom
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Re: Auto companies with record low sales
Posted by Beth1210
well- that doesn't help the bottom line or the top line number
if they were selling high end avalons and Sequios (spelling- that HUGE SUV) last year at over $40K each
and now they are selling corrola's and pirus
even if they sold the same amount- their sales would be cut in half or more then half
so while they may still be selling the same amount of cars- their sales can still be way down
a more expensive car has little impact in this situation. its how much they make off the car..not the type (expensive) of the car sold.... they still make money of smaller car and they really make money off of options...plus they get kickbacks from banks and such...
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| Posted 10/1/08 7:11 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Auto companies with record low sales
Posted by Blu-ize
yep. I get no 0% offers in the mail anymore.
My credit scores are back into the high 700s now that I paid some CCs off.
I am hoping for some 0% offers. We'll see. They are still out there, but not as frequent.
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| Posted 10/1/08 7:22 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Auto companies with record low sales
Posted by AliceCullen
I was just at a Toyota dealership with my dad yesterday and they said they are actually doing decent. They said they are selling a ton of small, fuel efficient cars.
Toyota "the company" may not be doing so well. But I am sure the dealers are making a killin'.
Just think about all those Camry and Prius hybrids they are selling at MSRP (or possibly higher).
Talk about making the $$$$$.
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| Posted 10/1/08 7:24 PM |
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bigspender
Back to school
Member since 4/07 1385 total posts
Name:
Irene
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Re: Auto companies with record low sales
my friend said the same thing, that they did the worst they have ever done.
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| Posted 10/1/08 7:56 PM |
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MrsRJP
Happy Spring!!!
Member since 12/07 2151 total posts
Name:
Rena Marie
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Re: Auto companies with record low sales
Two dealerships here in FL just went bellyup. One was a Chevy dealer had 14 dealerships in a few states but had alot of issues and was being looked at by the govt anyway. All of the 1000 employees here in central FL are without jobs and were told as soon as they got in to work to go home. The other was a Pontiac-Buick that had a few dealerships but they were downsizing just one for now. Both were GM dealers. Also alot of little mom and pop used dealers went belly up also here. I can see where they are all hurting because if the bank is freezing how can you finance.
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| Posted 10/1/08 11:37 PM |
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stickydust
Now a mommy of 2!!!
Member since 4/06 3164 total posts
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Re: Auto companies with record low sales
Posted by ave1024
Posted by AliceCullen
I was just at a Toyota dealership with my dad yesterday and they said they are actually doing decent. They said they are selling a ton of small, fuel efficient cars.
Toyota "the company" may not be doing so well. But I am sure the dealers are making a killin'.
Just think about all those Camry and Prius hybrids they are selling at MSRP (or possibly higher).
Talk about making the $$$$$.
Dealers don't really make a lot of money off of new car sales. Most of the dealers revenue comes from service, parts, options and used cars. New Cars are just the way to get them in the door.
I happen to know of several cars made by auto manufacturers where they actually lose money on the platform (i.e. the cost to manufacture - including union salaries etc. is more than the sale price).
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| Posted 10/1/08 11:44 PM |
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CunningOne
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Member since 5/05 26975 total posts
Name:
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Re: Auto companies with record low sales
Posted by lorich
Posted by Ophelia
THIS is what everyone is talking about...THIS is what the credit crisis and the bailout means to the average person.
EXACTLY!
My DH is a car salesman...he is/was the main source of income in our family.
Needless to say we're worried!
 right there with ya 
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| Posted 10/2/08 12:55 AM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: Auto companies with record low sales
I noticed the Toyota service dept had a Saturday morning appointment open, which I usually wait weeks to get. This is also the time when the service dept will try hard to sell you additional stuff when you go in for your oil change.
5000 miles ago(which is only about 8 weeks for me) they tried to pressure me into doing almost $500 of 'suggested service' on my 6 month old car....I asked why my Toyota manufacturer's book doesn't recommend the same & he said well its a DEALER recommendation 
I told him I'll stick with following toyota's protocol to the tee.
My dealer also called me to say the Prius' are back because we were thinking about getting another one, they are still getting the same amount but some people aren't qualifing for financing.
This is all part of an economic pattern we've seen before. People will keep theirs cars longer, and people that have no business financing a brand new car will buy used.
It nuts to think that 3 years anyone with a pulse could get a 0% deal on a $30,000 car.
When we had our bad credit 'you work, you drive' used car lot in the early 90's, people were paying 17-20% on crappy USED economy cars!!!!!
The reason why it worked is the risk was appropriate to the debt for both parties. This was always reality in lending.
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| Posted 10/2/08 6:58 AM |
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ali120206
2 Boys
Member since 7/06 17796 total posts
Name:
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Re: Auto companies with record low sales
Posted by ave1024
Posted by Blu-ize
yep. I get no 0% offers in the mail anymore.
My credit scores are back into the high 700s now that I paid some CCs off.
I am hoping for some 0% offers. We'll see. They are still out there, but not as frequent.
I got one for the first time in awhile the other day - from Chase.
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| Posted 10/2/08 8:32 AM |
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1stimemom
Love my boys
Member since 2/08 8766 total posts
Name:
Mrs Dee
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Re: Auto companies with record low sales
Me too
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| Posted 10/2/08 9:52 AM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: Auto companies with record low sales
Posted by AliceCullen
I was just at a Toyota dealership with my dad yesterday and they said they are actually doing decent. They said they are selling a ton of small, fuel efficient cars.
so maybe THAT particular one is fairing OK.
I don't get statements like this. TOYOTA REPORTED this as a fact...your interaction with one one millionth of a percent of the company shouldn't be used to counterpoint what the COMPANY AT LARGE is reporting.
I don't mean to attack you, it's just a frustrating phemomenon.
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| Posted 10/2/08 9:57 AM |
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MissRadiant
Happily Ever After
Member since 9/08 2534 total posts
Name:
N
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Re: Auto companies with record low sales
I think the problem is not just with selling the smaller cars vs the bigger cars. The problems that the average american is going to have is getting approved to finance or lease these new cars. Banks are going to be super strict going forward and with cars that basically anyone was approved before - now they will have stricter guidelines.
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| Posted 10/2/08 9:58 AM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: Auto companies with record low sales
it was reported that 3500 or so car dealerships could fail by the end of the year.
that is one in five.
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| Posted 10/2/08 10:00 AM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Auto companies with record low sales
Posted by KellyFG
My dealer also called me to say the Prius' are back because we were thinking about getting another one, they are still getting the same amount but some people aren't qualifing for financing.
I am curious what the "price" is. It used to be insanely high. What are they going for now?
Maybe i'll have to look into one if the price is good. Qualifying for financing won't be a problem.
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| Posted 10/2/08 10:03 AM |
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BabyAvocado
Happy New Year
Member since 5/05 17334 total posts
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Re: Auto companies with record low sales
Posted by Ophelia
it was reported that 3500 or so car dealerships could fail by the end of the year.
that is one in five.
And it's also been said that economists have correctly predicted 9 out of the last 5 recessions. (heard that on CNN last night  )
IMO, these types of "predictions" or projections aim to put fear into people.
Where is the figure for how many dealerships normally fail in a year? Is there a trend? Have they been ballooning up or headed down for years now? If I had that information along with that statement, I could take it for what it's worth. By itself, it's just a fear tactic to me. 
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| Posted 10/2/08 10:20 AM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: Auto companies with record low sales
Posted by BabyAvocado
Posted by Ophelia
it was reported that 3500 or so car dealerships could fail by the end of the year.
that is one in five.
And it's also been said that economists have correctly predicted 9 out of the last 5 recessions. (heard that on CNN last night )
IMO, these types of "predictions" or projections aim to put fear into people.
Where is the figure for how many dealerships normally fail in a year? Is there a trend? Have they been ballooning up or headed down for years now? If I had that information along with that statement, I could take it for what it's worth. By itself, it's just a fear tactic to me.
I have no idea to be honest. maybe I'll research it more today.
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| Posted 10/2/08 10:31 AM |
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CunningOne
***
Member since 5/05 26975 total posts
Name:
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Re: Auto companies with record low sales
Posted by BabyAvocado
Posted by Ophelia
it was reported that 3500 or so car dealerships could fail by the end of the year.
that is one in five.
And it's also been said that economists have correctly predicted 9 out of the last 5 recessions. (heard that on CNN last night )
IMO, these types of "predictions" or projections aim to put fear into people.
Where is the figure for how many dealerships normally fail in a year? Is there a trend? Have they been ballooning up or headed down for years now? If I had that information along with that statement, I could take it for what it's worth. By itself, it's just a fear tactic to me.
From a Newsday article:
Nationwide, showroom traffic fell by more than 50 percent in the last ten days of September from a year earlier, CNW Marketing/Research of Bandon, Ore., reported. And Wednesday the National Automobile Dealers Association forecast that as many as 600 dealerships nationwide could close or consolidate this year, equal to about 3 percent of the total. Last year, 430 closed.
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| Posted 10/2/08 10:34 AM |
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AliceCullen
LIF Adult
Member since 6/08 1497 total posts
Name:
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Re: Auto companies with record low sales
Posted by Ophelia
Posted by AliceCullen
I was just at a Toyota dealership with my dad yesterday and they said they are actually doing decent. They said they are selling a ton of small, fuel efficient cars.
so maybe THAT particular one is fairing OK.
I don't get statements like this. TOYOTA REPORTED this as a fact...your interaction with one one millionth of a percent of the company shouldn't be used to counterpoint what the COMPANY AT LARGE is reporting.
I don't mean to attack you, it's just a frustrating phemomenon.
Wow, sorry. I was just letting you know that despite Toyota having low sales as a whole, not EVERY dealership is in trouble. I was surprised when they told me they are still doing really well.
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| Posted 10/2/08 10:37 AM |
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BabyAvocado
Happy New Year
Member since 5/05 17334 total posts
Name:
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Re: Auto companies with record low sales
Posted by chmlengr
Posted by BabyAvocado
Posted by Ophelia
it was reported that 3500 or so car dealerships could fail by the end of the year.
that is one in five.
And it's also been said that economists have correctly predicted 9 out of the last 5 recessions. (heard that on CNN last night )
IMO, these types of "predictions" or projections aim to put fear into people.
Where is the figure for how many dealerships normally fail in a year? Is there a trend? Have they been ballooning up or headed down for years now? If I had that information along with that statement, I could take it for what it's worth. By itself, it's just a fear tactic to me.
From a Newsday article:
Nationwide, showroom traffic fell by more than 50 percent in the last ten days of September from a year earlier, CNW Marketing/Research of Bandon, Ore., reported. And Wednesday the National Automobile Dealers Association forecast that as many as 600 dealerships nationwide could close or consolidate this year, equal to about 3 percent of the total. Last year, 430 closed.
Perfect! Thank you. That puts it into perspective. The numbers are vastly different: 600 vs 3500
Now - while still reserving judgement, this begs the question... who reported the 3500 and where did they get that number from?
These are the questions we need to ask when we read and hear these things in the media... sometimes they just want to shove one opinion down our throats and leave out lots of information along the way...
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| Posted 10/2/08 1:29 PM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: Auto companies with record low sales
Posted by BabyAvocado
From a Newsday article:
Nationwide, showroom traffic fell by more than 50 percent in the last ten days of September from a year earlier, CNW Marketing/Research of Bandon, Ore., reported. And Wednesday the National Automobile Dealers Association forecast that as many as 600 dealerships nationwide could close or consolidate this year, equal to about 3 percent of the total. Last year, 430 closed.
Perfect! Thank you. That puts it into perspective. The numbers are vastly different: 600 vs 3500
Now - while still reserving judgement, this begs the question... who reported the 3500 and where did they get that number from?
3500 is what CNN reported last night on the news....it was a report (not in print) so I don't know where the info came from.
I am not sure why the figure is so much more than the 600...my best guess is that in the last few days, credit has constricted so much and it could grow to that if conditions stay like this????
in any event...you are right. I was a bad putty tat.
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| Posted 10/2/08 1:37 PM |
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