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Carmageddon (574 hits)

From The Ramparts
Junious Ricardo Stanton

If you are looking to buy or lease a new car now is the time. US auto makers sales are in a slump and they are offering major incentives to help sell off their inventories. 2017 has not been a good year for US car manufacturers. Their sales have slipped and there is major concern about how the year will end sales wise. Walk or ride by any car dealership and you will see a lot full of cars and all types of sales incentives being offered to boost sales. This because sales for 2017 have dipped below 2016 sales.
"Automakers likely sold fewer than 1.5 million new vehicles in the United States in June 2017, a modest decrease of around 2 percent compared with June 2016. While auto sales remain high by historic standards — 1.48 million sales would still make June 2017 more than 15-percent better than the 1.33 million June average from 2011-2015 — June nevertheless represents the persistence of a negative trend. After 2016 ended with a December boom to close out the highest-volume year on record, auto sales in the United States declined on a year-over-year basis in each of 2017’s first five months. A 2-percent drop in June, worth roughly 30,000 lost sales, will run the streak of decreases to a full half-year... Automakers continue to push incentives as a means of reducing inventory, which, according to Automotive News, stood at 69 days of supply heading into June. (General Motors, Mitsubishi, and Volkswagen all had more than 90 days’ worth of stock at the beginning of June.) " http://www.thetruthaboutcars.com/2017/06/june-2017-u-s-auto-sales-likely-slid-sixth-consecutive-month-incentives-transaction-prices-rise/
Not only that, the push to spur new car sales created another problem, a new credit bubble. This time in auto loans. Some economists and consumer advocates are warning about an approaching sub-prime loan crisis in auto sales. Because cars are more expensive today, many car dealers have offered additional incentives and encouraged banks to made loans to people who were less than credit worthy. The same tactics that took down the housing industry partially leading to the 2008 financial collapse are being repeated in the auto industry.
"In recent years, the auto industry has been able to boost sales by aggressively pushing people into auto loans that they cannot afford. In particular, auto loans made to consumers with subprime credit have been accounting for an increasingly larger percentage of the market. Unfortunately, when you make loans to people that should not be getting them, eventually a lot of those loans are going to start to go bad, and that is precisely what is happening now. Meanwhile, automakers and dealers are starting to panic as sales have begun to fall and used car prices have started to crash. If you work in the auto industry, you might remember how horrible the last recession was, and this new downturn could eventually turn out to be even worse... Overall, U.S. auto sales so far in 2017 have been described as a “disaster” despite record spending on consumer incentives by automakers. Dealer inventories are now at the highest level that we have seen since the last financial crisis. Why this is so troubling is because there are a whole lot of unsold vehicles just sitting there doing nothing, and this is becoming a major financial problem for many dealers. It now takes an average of 74 days before a dealer is able to sell a new vehicle. This number is also the highest that it has been since the last financial crisis. Not only is Ford projecting that sales will fall this year, they are also projecting that sales will fall in 2018 as well." http://www.zerohedge.com/news/2017-04-04/next-subprime-crisis-here-12-signs-us-auto-industrys-day-reckoning-has-arrived
It's not just individual sales that are a problem, fleet sales are lower and when the rental companies offload or sell their old inventories, the banks have colluded to keep the used car (previously owned) prices high. This is why there is a glut of used cars, that and the fact folks are getting their card repossessed due to being unable to pay the car notes. "
" Right now, more than a million Americans are behind on their payments on their auto loans. This is something that has not happened since the last financial crisis. In 2017, U.S. consumers are more “underwater” on their auto loans than they have ever been before. Subprime auto loan losses have soared to their highest level since the last financial crisis, and the delinquency rate on those loans has risen to the highest level that we have seen since the last financial crisis." ibid
We are facing additional economic challenges but if you have good credit you can get a great deal on a car, just do not allow them to set you up in a sub-prime auto loan!

Posted By: Junious Stanton
Monday, July 17th 2017 at 7:00PM
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I posted a blog some time ago that Black Americans will be designing and building our own cars and selling our cars to other countries soon while your slave-minided-self is focous on White people and their industries, you are ignorant there is no life in you!
Monday, July 17th 2017 at 9:43PM
Harry Watley
Brother Doctor Junious Ricardo Stanton is great new for people looking to buy or lease a new car now is the time.

In your opinion why do you think this flood of 2017 car is still on the showroom floors? Could this be a indicator of the economy slowing down again?

Monday, July 17th 2017 at 11:13PM
Deacon Ron Gray
Would you love to see the economy slow down Ron?
Tuesday, July 18th 2017 at 12:00AM
Steve Williams
No! Steven... But if it does happen, it will happen under the Republican watch. You remember The George Bush Administration don't you?

Tuesday, July 18th 2017 at 8:11AM
Deacon Ron Gray
Mr. Ron don't you want your own economy some day in your own country? Don't you see that White America and you are racially different and that all of this country belongs to White America? The registration of ownership to this country is the Declaration of Independent and the 56 signatures are all White Americans like Pres. Thomas Jefferson.
This is not your country STUPID man! Stop thinking that the White man's economy is yours! Wish the White man's economy well and ask God for an economy of your own IDIOT!
Tuesday, July 18th 2017 at 8:17AM
Harry Watley
Harry, what you are talking about is NOT apart of this conversation. Now if you want to start a blog with your topic in mind, grow a pair of balls and open up your blogs to everyone you idiot and stop trying to hi-jack another person's blog to get your failed message out.

Get on topic of this blog FuFu.

Tuesday, July 18th 2017 at 8:29AM
Deacon Ron Gray
Well Ron, I'm sure you love that we are stuck with the ACA. The defaults on loans and slowdown of auto sales is a direct result of the failure of the ACA. People can't afford both their insurance premium and a new car payment. The ACA will continue to implode, auto sales will continue to fall, and the economy will slow. So get ready to love it because this is exactly what your side has worked so hard to achieve.
Tuesday, July 18th 2017 at 8:41AM
Steve Williams
Please Steven, Trump is not doing his job. He has not sent to the floor a workable budget yet and the republicans are in a flux to what to do with this backdoor health care plan that is masquerading as a tax cut for the rich. It has come to the light that The Middle Class will get a whopping $45 tax cut from Trump Care, not enough to buy a car, now is it Steven?

Tuesday, July 18th 2017 at 9:33AM
Deacon Ron Gray
The economy is slowing down and the unemployment figures are not accurate. The auto manufacturers never really bounced back from the 2008 crash even with the cash for clunkers incentives. Please do not get caught up in the Left-Right/Republican-Democrat dichotomy it'seems all part of the divide and rule. We live in a fake reality fake news all the time propaganda and lies. Don'the fall for the okey-doke.
Tuesday, July 18th 2017 at 10:44AM
Junious Stanton
This will be my last comment after saying this! If the economy was slowing down the stock-market would not be breaking records. This week the stock-market was at 21 thousand. You all are idiots except for Steve because you all are unable to think analytically and reason rationally.

I'll wait until something stupid is posted in hopes that one of you idiots be side Steve would reply since you all don't see that the White man's economy is not Black America's economy because we are two different people!
Tuesday, July 18th 2017 at 12:07PM
Harry Watley
Some would say that The auto industry finished in 2013 with more sales, more jobs and big expansion plans, solidifying its key role in the economic recovery since The Great Recession drove U.S. auto sales to a low of 10.4 million vehicles sold in 2009.

“Auto sales were one of the brightest spots on the economic horizon during The Obama Administration.” I just find it very hard to ignore the evidence of the trickle down approach that the Republicans have adopted since Ronald Ragan, which never did work for the middle and poor classes and once again the country is headed back to this same failed policies, now that the republicans has both houses, The Supreme Court and the Presidency.

The Car industry just may be the tip of the iceberg in the public confidence of this administration.

Tuesday, July 18th 2017 at 1:02PM
Deacon Ron Gray
We live in a fake reality where the government is in cahoots with the media and their coproate owners to keep us bamboozled and discombobulated. Read this and then read between the lines to figure out what is really happening. https://www.thrillist.com/culture/secret-cia-operations-mkultra-operation-paperclip-mind-control, https://datasociety.net/output/media-manipulation-and-disinfo-online/, https://www.thebalance.com/what-is-the-real-unemployment-rate-3306198, https://www.peakprosperity.com/blog/108546/where-there’s-smoke,http://www.rollingstone.com/politics/news/everything-is-rigged-the-biggest-financial-scandal-yet-20130425
Jobs are not coming back to this country that is not the nature of capitalism, the owners want cheap labor so they are offshoring th jobs turning to automation, artificial intelligence and robotics to get the work done! Trump fooled the people just like Obama, Bu$h and Clinton it's time to wake up and stop falling for the okey-doke.
Tuesday, July 18th 2017 at 4:42PM
Junious Stanton
I have been advised the links I supplied do not work. To get a better understanding of the economic situation regarding government mind control, the auto industry, market rigging and true unemployment figures go to: http://www.shadowstats.com
I regret any inconvenience this may have caused. Do not fall for the coprorate media/government lies and okey-doke.

Wednesday, July 19th 2017 at 1:13PM
Junious Stanton
Great to see that these links are working Brother Doctor Junious Ricardo Stanton, I will take a look at them.

Wednesday, July 19th 2017 at 1:34PM
Deacon Ron Gray
WOW!!! It’s Time to Get Worried About the Auto Industry, this article was published back in May. Now whatcaught my eye was this, Losing 113,000 in car sales at an average price of $32,000 means losing $4.2 billion in sales. Every month, U.S. retail sales are about $470 billion.

So why should we worry? Well, the decline of car sales in an era of near-full employment and continued economic expansion is an anomaly. It could mean that car sales may have hit something of a near-term plateau. Or it might be that with the rise of carsharing, the uptick in urban living, and millennials doing their millennial thing and eschewing ownership, we’re beginning to see the effects of budding structural decline in the demand for new cars.

This is the first I heard of this. I will keep my eye's open on this topic because I believe that the car industry is a great indictor of the health of our nations economy.

Wednesday, July 19th 2017 at 6:39PM
Deacon Ron Gray
Another reason you completely overlooked is the US economy is in free fall. Yes disruptive technology in the form of Online shopping has hurt retail brick and mortar stores but so has stagflation, high unemployment, massive consumer debt, a poor economy and rising income inequality. http://www.pewresearch.org/fact-tank/2014/10/09/for-most-workers-real-wages-have-barely-budged-for-decades/
Don't beleive the hype or the CNBC accounts about the US economy. The total debt to GDP ratio is approaching the crisis level.

Wednesday, July 19th 2017 at 7:28PM
Junious Stanton
Anyone who have been following these links can plainly see that Trump has blamed Obama for almost doubling the national debt but Trumps plans for the national debt will be even worse. This president is advocating heavy tax breaks for the rich in this country which would allow them not to pay their fair share of the economic debt in this country.

I have come to the conclusion that anyone who advocates heavy tax breaks for the rich and corporations I'm not interested in the national debt.

I am enjoying this conversation Because I'm learning so much and reconfirming something's I already knew.

"TEACH Brother Doctor Junious Ricardo Stanton TEACH."

Wednesday, July 19th 2017 at 10:27PM
Deacon Ron Gray
Trickle down economics doesn't work. We saw that with Ronald Reagan and George W Bu$h, but we also saw massive deficits under Lyndon Johnson and Clinton stealing the Social Security Trust Fund money.All the global commodities and stock markets are rigged to the hilt. The game is rigged against us.
It's not about Democrat or Republican neither party has the best interests of the people at heart. Most of the Congress critters are millionaires in the pockets of the corporations, banks and special interest lobbies like Israel. There are a few honest ones but they are outnumbered and have to go along to get along. The masses are restless and anxious because they see AmeriKKKa slidding into third worldsocio-economic status as their standard of living deteriorates before their eyes. They are in debt up to their eyeballs with no relief in sight. The mind control apparatus has us spending, buying and behaving to enrich the 1% not ourselves. The alcohol and drugs (there is an opiate epidemic in AmeriKKKa) are dulling our minds so we can't think clearly so there is no fight or resistance against all the wars and policies that benefit the rich! As Tupac said, "They have money for war but can't feed the poor." we live in a Kakistocracy we are rulled by the worst and least qualified elements (psychopaths and sociopaths) in the land.
Thursday, July 20th 2017 at 8:09AM
Junious Stanton
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