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And this one is not because there are enough cars in the US and even if currently no new are produced - existing are rarely decommissioned because they no longe
by ReptileMan 4y ago
And this one is not because there are enough cars in the US and even if currently no new are produced - existing are rarely decommissioned because they no longer work.
Very few people need new car now. Or need to change their car now. It is a flexible market. In the current market supply shortage means that you will have to squeeze 50000 more miles out of your current car in the next two years. It's not insulin or baby formula.
- n4r9 4y agoA ~30% spike in used car prices which has been ongoing for a year and is predicted to continue for 2-3 years is bad for people that need a car to commute and can't easily afford to buy another if and when theirs breaks down. Maybe you're right and this is a fraction of a percentage of the population. I'd be surprised but am open to seeing stats on it.
- nradov 4y agoThat's just wrong. About 5% of cars are scrapped every year. Many people need to buy a replacement vehicle on short notice because their old car suffers a catastrophic mechanical failure, or is totalled in a collision.