18.28

last year, 2015, there were 320,000,000 million people living here in the US. During that same time, automakers sold a record breaking 17,500,000 new cars. that is one new car for ever 18.28 people.

I do not know who is buying all these new cars.. because nobody I know bought a new one in 2015.. but it astounds me that car makers can shift that many new cars in a year.

How many were bought by rental car fleets?

mad_machine wrote: last year, 2015, there were 320,000,000 million people living here in the US. During that same time, automakers sold a record breaking 17,500,000 new cars. that is one new car for ever 18.28 people. I do not know who is buying all these new cars.. because nobody I know bought a new one in 2015.. but it astounds me that car makers can shift that many new cars in a year.

Do you know anyone who bought a used car? Said used car was probably sold by someone who bought a new car.

How many of those were with Chryslers inflated sales numbers?

I often wonder who buys them all every year, until I see people who can't hold down a job driving new cars. Then I wonder how they manage to qualify, knowing they're living off the state and have a negative credit score.

Thinking about it, outside of this forum, I only interact with a dozen people on a regular basis, maybe that's why it seems so odd to me.

Beginning with the crash in 2008, many people started hanging on to their vehicles much longer than they had before. But eventually people get tired of driving increasingly warn out cars and tired of the perpetual maintenance they require, so as they economy recovers they are looking for transport they don't have to worry about -- something with zero miles and a long warranty.

My parents have no appetite for buying older vehicles now that they are at retirement age. They say that the anxiety of knowing that their car needs/will need work is not worth the lower cost of ownership.

Having never before purchased a new car before that, I purchased one in 2013, 2015 and 2016. Over time my life circumstances changed, my family needs changed, and thus my car buying MO changed. I suspect it's the same for many in my generation.

heh.... newest car we own...... 1989

Flyin' Miata has purchased 3 new cars in the past 12 months. So we're helping.

Wikipedia says there are 797 cars per 1000 people in the US. That's one for every 1.25 people. According to the IHS, the average age of those cars is 11.5 years. Which means that we've been averaging one new car (and one scrapped car) per 14.3 people over the past decade or so.

Keith Tanner wrote: Flyin' Miata has purchased 3 new cars in the past 12 months. So we're helping. Wikipedia says there are 797 cars per 1000 people in the US. That's one for every 1.25 people. According to the IHS, the average age of those cars is 11.5 years. Which means that we've been averaging one new car (and one scrapped car) per 14.3 people over the past decade or so.

I think you have that backwards

My stepmother's father buys a new car every 3-6 months. He's old and has a E36 M3 ton of retirement money, so he's keeping the auto economy alive apparently.

I bought a new 2016 Tacoma in 2015. Last new car I bought was SWMBO's in 2010. Usually keep them till they start costing. Daily drivers have to work with routine maintenance only. My fun cars, it doesn't matter how long it takes to fix or even if they ever run again. They are toys.

RevRico wrote: How many of those were with Chryslers inflated sales numbers? I often wonder who buys them all every year, until I see people who can't hold down a job driving new cars. Then I wonder how they manage to qualify, knowing they're living off the state and have a negative credit score. Thinking about it, outside of this forum, I only interact with a dozen people on a regular basis, maybe that's why it seems so odd to me.

Yup, nothing like driving past a dilapidated trailer and seeing a brand new 'Vette or something parked out front.

I was talking cars and car payments with some non-car people at work the other day and was shocked to find out the one girl is making $500+/month payments for 7 years on a freaking Equinox. 12+% interest rate! How someone making $11 and change an hour can afford that, let alone think it is a good idea, is beyond me. This country has truly learned nothing from the past 8 years.

It would be interesting to see how many of those new vehicles were bought by individuals vs corporations and government entities.

The Hoff wrote: My stepmother's father buys a new car every 3-6 months. He's old and has a E36 M3 ton of retirement money, but he doesn't want his family to inherit any of it, apparently.

FTFY.

When a car shows up on a dealers lot, they count that as a sale. This is in a large part an effect of this channel stuffing. The other big influence is the rise of sub-prime long term low interest loans.

There is an awful lot of leasing going on too. Latest numbers have almost a third of all new cars are leased so with that they get on that new car cycle. Every 2-3 years they need a new car. And each year it's getting bigger and bigger in the US.

Haha. My DD is a 86 Nissan truck. The backup is a 99 4runner. The backup backup is a 64 Spitfire. Next on deck is a 80 Spitfire. I will probably never buy another new car.

I'm imagining a bunch of rich dudes having a demolition derby with new cars at the country club

A podcast that I listen to suggested that a lot of new car sales are being attributed to people driving for Uber / Lyft.

I was going to remind everyone that leases count as new car sales too, but I see bmw88rider beat me to the punch. At least half of my coworkers lease, so they churn through cars relatively quickly.

There are at least 12 people who work in the same office building as me that buy new cars every year.

I took an Uber yesterday, guy picked me up in a Honda CR-V with 34k on it and that thing was TIRED. I can see how you would need a new car every year or two if you're driving for a job, in a city.

In reply to Furious_E:

I was looking at 2016 model year-end deals today & Ford offers 84-month financing on an Escape.

Duke wrote:

The Hoff wrote: My stepmother's father buys a new car every 3-6 months. He's old and has a E36 M3 ton of retirement money, but he doesn't want his family to inherit any of it, apparently.

FTFY.

Any man that dies with $10,000 in the bank is a failure

-Oscar Wilde

petegossett wrote: In reply to Furious_E: I was looking at 2016 model year-end deals today & Ford offers 84-month financing on an Escape.

And people wonder how they end up still being upside down on their loan after making years worth of payments...

Furious_E wrote:

RevRico wrote: How many of those were with Chryslers inflated sales numbers? I often wonder who buys them all every year, until I see people who can't hold down a job driving new cars. Then I wonder how they manage to qualify, knowing they're living off the state and have a negative credit score. Thinking about it, outside of this forum, I only interact with a dozen people on a regular basis, maybe that's why it seems so odd to me.

Yup, nothing like driving past a dilapidated trailer and seeing a brand new 'Vette or something parked out front. I was talking cars and car payments with some non-car people at work the other day and was shocked to find out the one girl is making $500+/month payments for 7 years on a freaking Equinox. 12+% interest rate! How someone making $11 and change an hour can afford that, let alone think it is a good idea, is beyond me. This country has truly learned nothing from the past 8 years.

I think she was berkeleying with you.

$500+
7 years
12%

Thats 50k for a E36 M3ty Equinox.