Car Sales Really, Really Suck
I don’t normally link to videos if they can’t be embedded, but this cracked carafe of not good is required viewing for anyone who thinks the U.S. car industry isn’t dead in the water. The interviewee, President of NY’s Major World Auto, offers such a litany of bad news that you half expect Harold Bendell to break down and weep: banks getting out of the sub-prime biz (perish the thought), leasing is DOA, new cars aren’t selling, used cars aren’t selling that well, etc. To which the Fox newscaster replies, “Car companies are in business to sell cars. If they are not selling cars, there’s no reason for them to be in business… what are they going to do?” “If you don’t have a 700/725 [Fair Isaac Corp or FICO credit] score, nobody really wants to look at you the same way,” the harried, hapless car dealer moans. “Who wants to take a chance?” Inventory problems? “I’ve got so many cars that I want to give them away,” Bendell says. Only you know what? I believe him.
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