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Maybe? It's total car sales, this is cocktail napkin math. Wouldn't the amount owned by taxis and rental companies have to be absorbed by the U.S. population
by linkregister 10y ago
Maybe? It's total car sales, this is cocktail napkin math. Wouldn't the amount owned by taxis and rental companies have to be absorbed by the U.S. population anyway? If anything it takes away the amount of eligible households, making the issue even stranger. This is because utilization of rental cars is going to be lower than purchased cars.
- cloudsymphony 10y agoWithout looking up the stats, my guess is that this number includes leases. Which artificially inflates the number for "new car sales". Not only that but manufactures have been offering insane financing 72 months .9% apr. Which brings down the cost to own for people who probably shouldn't be buying a new car. Car manufactures remind me more of financial companies then car companies.
- czinck 10y agoThey really are (or subsidiaries are). Ally Financial (or Ally Bank until a few years ago) started as the part of GM financing their auto loans. I'd bet Ford and Chrysler have similar groups, and foreign automakers as well.
- woobar 10y agoLeases do not 'artificially' inflate new car sales. They are not really different from regular financing. In both cases the new car is sold and paid for by a financial institution. And the customer can use the car as long as all financial conditions of the deal are met. For instance, in both cases you can pay off your balance earlier to own the car outright. Or you can sell car before the end of the lease/loan terms and use proceeds to payoff the balance.
- rjsw 10y agoRental cars get sold on at fairly low mileage. My point was that "people" don't have to buy new every car that other people buy used. I have bought an ex-rental car in the past that was 1 year old with 10000 miles on the clock.