recession or just a downturn

[stevepaa]

Local Chrysler dealer with a big lot closed its doors on Friday. Guy said people just stopped spending money on service this year. Service is what supports a dealership, not car sales.


And I have been noticing prices of 964s with 50k miles falling into teens, and those with 110k miles at $14K.

993's are not selling near 30 and are getting nibbles at 25

[Porsche-O-Phile]

Technically not a recession (if you believe the reports, we haven't had 2 consecutive quarters of negative growth).

There are a lot of inherent problems with the economy though and it's going to take a LOOOOOOOOONG time for the poison to work its way out. This will certainly stunt things for a while, if it doesn't create a bona-fide "recession" by definition.

I predict about 3-4 more years of sluggish/uneasy growth before things start to meaningfully pick up again. Longer for some sectors (housing), shorter for others (healthcare, etc.)

[The Gaijin]

Up 3% overall last quarter. Don't alert the media until Obama is elected.

Not to say there are not problems overall and big problems in certain sectors, but 3% is 3%.

[Pazuzu]

Originally Posted by stevepaa

Local Chrysler dealer with a big lot closed its doors on Friday. Guy said people just stopped spending money on service this year. Service is what supports a dealership, not car sales.

That's what they get for making better cars! Sounds like capitalism is working...mwahahahaaa!!!!! (wringing hands ominously)

[the]

Originally Posted by stevepaa

Local Chrysler dealer with a big lot closed its doors on Friday. Guy said people just stopped spending money on service this year. Service is what supports a dealership, not car sales.

I heard of a Jeep/Chrysler dealership in Nor. Cal. the other day, may be the one you are talking about. Heard it through a friend of a friend type thing, but supposedly the dealership went 30 days without selling a single car.

Most dealerships are being really hurt by a lack of service. Part of the problem is cars are becoming more and more reliable, so there is less repair/warranty work, and the "tune up" intervals are becoming longer and longer, so there is far less routine maintenance work.

There are very rough times ahead for car dealerships. They have the triple whammy of a sagging economy, tightened credit and record gas prices. During the last big downturn in the industry in the early 90s, 6,000 car dealerships went out of biz in the US. This time is going to be worse.

[TSNAPCRACKLEPOP]

bARON bmw IN oVERLAND pARK kANSAS IS DROPPING AL vw SERVICE, NOT PROFITABLE AGAINST THE mINI AND bmw SERVICE.

[Noah930]

Originally Posted by TSNAPCRACKLEPOP

bARON bmw IN oVERLAND pARK kANSAS IS DROPPING AL vw SERVICE, NOT PROFITABLE AGAINST THE mINI AND bmw SERVICE.

What's with the ransom note font?

[azasadny]

Depression...

[75'930cab]

Originally Posted by TSNAPCRACKLEPOP

bARON bmw IN oVERLAND pARK kANSAS IS DROPPING AL vw SERVICE, NOT PROFITABLE AGAINST THE mINI AND bmw SERVICE.

tHAT'S wEIRD aS i tHOUGHT vW'S bREAK a lOT?