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U.S. vehicle sales - a five-year high for November, at 1.14M - are considered one of the...

U.S. vehicle sales - a five-year high for November, at 1.14M - are considered one of the encouraging spots of the economy, but appearances are deceiving. On a per capita basis, sales look downright depressed: at one vehicle sale for every 21 people, outside of the current slow economy, one would have to go back to the lowest point of the 1991 recession to find a similar rate.
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Comments (5)
  • Venerability
    , contributor
    Comments (3048) | Send Message
     
    I think that's structural more than economic.

     

    Cars are both more expensive and more durable, meaning people are keeping them longer.

     

    We've also had an explosion in leasing since 1991.
    4 Dec 2012, 06:34 PM Reply Like
  • The Patriot
    , contributor
    Comments (328) | Send Message
     
    Completely agree. I have 2004 Ford Explorer - 130,000 miles, and a 2004 Mercury Mountaineer - 90,000 miles. Both in good shape and will be at least 2 years before I consider replacing. But because of economics, mainly the high cost of living, the next vehicle will have a smaller price tag.
    4 Dec 2012, 08:50 PM Reply Like
  • Vipertom
    , contributor
    Comments (169) | Send Message
     
    Longevity is definitely a factor in the increasing age of cars on the road. But for November, I think the totals were goosed by hurricane Sandy.
    4 Dec 2012, 08:57 PM Reply Like
  • george flood
    , contributor
    Comments (19) | Send Message
     
    loved the perpective ! trust but verify !
    4 Dec 2012, 07:12 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (5822) | Send Message
     
    1 in 21 people? Maybe they are getting older and don't drive. Why does everyone need to drive?

     

    airport lady: Driver's licence.
    me: Don't have one.
    airport lady: You're 18, right?
    me: So.
    4 Dec 2012, 10:25 PM Reply Like
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