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We can all SPECULATE.
In Response to Re: Auto Sales Showed Powerful Gains Across the Board in June:
"....Number of Older Vehicles on the Road in the United States Increased by More than 17 Million since 2009...".
“An increase of later-model vehicles on the road is a positive sign for the industry because it creates growth opportunities in the important aftermarket sector,” said Jeffrey Anderson, director of consulting and analytics for Experian Automotive. “With lower scrappage rates, historically large sales of older-model vehicles and an increase in incentives for maintaining vehicle ownership, aftermarket part manufacturers and retailers will see an influx of shoppers looking to extend the life of their vehicle.”
Part of reason for new car purchases is record average age for cars on road. People are trading off ever larger costs to fix their old cars against having a new car loan. Also, the aftermarket sector has been booming --- anecdotally, our small town has two new auto parts stores built in the last three years. Point is, new car sales will pull some of their business away.
Whether new sales shows a recovering economy, or unwillingness to continually put money into an old car, remains to be seen.
And in related news, oil hit $100 a barrel ..............................
Posted by retiredtraveler