If you've been reading this blog you know that the car downturn has been building all year. And it's not because of tariffs - it's because of interest rates. Period.
They spent 8 years or so pulling demand forward with 0 interest rate loans. Now it's very expensive for car companies to give you a zero interest loan.
Every car lot I see is floating on cars!
Update - I would also like to add that almost every week now I see an auto dealership blow up. Just before Thanksgiving Momentum Auto group in San Jose started closing dealerships. Here. They closed 8 locations.
I saw another one this morning, but I lost the link. I'm sure it will come around again.
Tuesday, November 27, 2018
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