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U.S. car sales hit record high in 2015 - The Washington Post
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A big factor in U.S. car sales, which reached 7.5 million in 2015, exceeding the 7.3 million in 2000, is that a large portion of cars on the road were about 11 years old following the recession in 2008-2009. As Dexter Ford pointed out in a article in 2012 many car owners on the road had replaced the earlier 100,000 mile mark before buying a new car, with 200,000. This pent up demand, and the better technological features including gasoline conserving technology, gave new impetus to demand in 2013-2015. Lower gasoline prices at the pump of about $2.00 a gallon in Jan. 2016 across parts of the country made it economical to own SUV's and pickup trucks. The U.S. car companies Ford, GM and Chrysler-Fiat had sales of 2 million full size pickup in 2015, with the Ford F-150 leading. Car companies have come through a severe crisis and are taking steps to avoid a repeat of the mistakes of the past on fuel efficiency- Ford has introduced a lighter aluminium based version of the F-150 for example. Gasoline prices also provide buyers with extra money to meet car payments which now have been stretched to longer periods and lower rates by auto companies to reduce the cost burden per month. AAA says the average price in 2013 for a gallon of gas was $3.49, in 2014 at $3.34, in 2015 at $2.40. AAA says that 71% of gasoline stations sell gas at less than $2.00 in January 2016, and gas prices are likely to remain low for an extended period with lower demand from China, higher fuel efficiency going forward with stricter standards, new technology for shale oil production, and the replacement of cartel pricing by competing production from Saudis, Iran and Russia. On average Americans saved $115 billion on gasoline, or $550 per licensed driver, according to AAA's Daily Fuel Gauge Report of January 6, 2016. In addition to the $550 saved the higher fuel efficiency with new technology adds a corresponding amount to savings per driver. Add to this the lower payment at low rates over longer periods and the car payment per month has been reduced significantly in a improving job market, to support car sales.
The U.S. car market and auto sales in 2014-2017
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The increasing age of automobiles in the U.S. market with 200,000 miles replacing 100,000 as the new norm
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Automoblies last longer with reduced wear and tear for engines and other parts, as auto companies improve durability and quality. In 2012 used cars for sale that have 150,000 miles are not that uncommon. This will have an impact on future auto sales.
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U.S. car sales hit record high in 2015 - The Washington Post
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U.S. Car Sales Set Record in 2015
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Younger Buyers Help Keep U.S. Car Sales Humming
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As Cars Are Kept Longer, 200,000 Is New 100,000
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U.S. Auto Makers' Party Is Braking Up
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U.S. Car Sales Climbed in June
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The surging U.S. car market in 2013
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U.S. Car Sales Pace Hits Five Year High
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U.S. car sales hit record high in 2015 - The Washington Post
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U.S. Car Sales Set Record in 2015
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Younger Buyers Help Keep U.S. Car Sales Humming
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Car loans and the auto industry 2011-2014
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Automobile financing in the U.S. reached a new level in 2012 with a large increase in auto loans.
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The New Rules of Borrowing for Homes, Autos and College
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U.S. car sales hit record high in 2015 - The Washington Post
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U.S. Car Sales Set Record in 2015
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Younger Buyers Help Keep U.S. Car Sales Humming
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U.S. subprime auto loans reach 27% in 2013, reminiscent of the 36% reached in 2006 before the subprime loan financial crisis
09/24/2014
A little starter interrupt device disabling cars of borrowers missing a single payment has reduce the number of delinquent loans from above 20% to 7%, along the way raising privacy concerns, traffic safety concerns. This only increases the lenders (including credit unions) desire to make more subprime loans because they are very profitable at a time of low interest rates, and because of the demand for loans that can be marketed as securities in financial markets. Are regulators again going to sleep at the job?
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Miss a Payment? Good Luck Moving That Car
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U.S. car sales hit record high in 2015 - The Washington Post
Washington Post 01/06/2016
U.S. Car Sales Set Record in 2015
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Is the U.S. automobile market becoming a maturing market like Japan and Germany?
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Are the fundamentals of the American market shifting and is the American market a maturing market like Japan and Germany. Did the carmakers create a bubble of their own in sales so that 17 million is a way way inflated number, inflated by incentives and sales to rental fleets, way beyond what the American market even with its better demographics can sustain?
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Auto Makers Rebound as Buyers Go Big
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U.S. June Auto Sales Keep Climbing
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U.S. Auto Sales Surge in December
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U.S. car sales hit record high in 2015 - The Washington Post
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German Regulator Roils Auto-Emissions Debate
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Auto Sales in Japan Drop to a 35-Year Low
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Average age of cars in the U.S. increases to 11.3 in 2013
03/16/2012
The 2008 financial crisis and the recession that followed led to Americans hanging on to their cars for longer. Americans also put more miles on their cars with increasing reliability of automobiles, the norm now being closer to 200,000 instead of 100,000.
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Vital Signs: Americans Holding on to Their Cars Longer
Wall Street Journal 01/03/2014
As Cars Are Kept Longer, 200,000 Is New 100,000
New York Times 03/16/2012
U.S. car sales hit record high in 2015 - The Washington Post
Washington Post 01/06/2016
U.S. Car Sales Set Record in 2015
Wall Street Journal 01/06/2016
Younger Buyers Help Keep U.S. Car Sales Humming
Wall Street Journal 01/06/2016
The resilience of U.S. auto sales in 2015-2016- new management, technological advances and pent up demand
01/06/2016
The U.S. automobile market and its resilience is one factor in the improving economy in 2016. New management and technology provide a resilience for automakers that never existed before.
Linked Articles
U.S. Car Sales Set Record in 2015
Wall Street Journal 01/06/2016
U.S. car sales hit record high in 2015 - The Washington Post
Washington Post 01/06/2016
Surging U.S. car sales 2013-2016- the impact of an aging automobile population, new technological features including fuel efficiency, lower gasoline prices, lower monthly payments and an improving job market
03/16/2012
Linked Articles
U.S. car sales hit record high in 2015 - The Washington Post
Washington Post 01/06/2016
As Cars Are Kept Longer, 200,000 Is New 100,000
New York Times 03/16/2012
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