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Auto Import Prices Tumble Most On Record As Import Prices Plunge Most Since Financial Crisis
Import Prices dropped YoY by 10.5%, the biggest sequential drop since Dec 2008 (following the Lehamn shock). Priod data was revised lower and March's MoM import prices dropped 0.3% after rising 0.2% in Feb (revised lower from a 0.4% rise). US Auto import prices suffered their biggest YoY drop on record as currency wars and implicitly the strong dollar start to bite (even as imported fuels prices rose 0.4%). Other good news for Americans is that food prices are down 1.1%.
Import Prices dropped YoY by 10.5%, the biggest sequential drop since Dec 2008...
But worse still as the string dollar and global cuirrency wars escalate:
- *PRICE OF U.S. AUTO IMPORTS FALLS RECORD 1.8% FROM YEAR EARLIER
How long before the lobbyists demand action against "currency manipulator" Japan?
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Since Lehman, Bitchez!
The rumors about Lehman's death....have been greatly exaggerated.
Yeah but does this drop only mean that more lower cost models are being imported ?
Or the price of all models is falling?
Need another chart there Tylers.
Fewer cars?
Time to ban "Bitchez".
Bitch please.
Since Lehman™
"...the Lehamn shock). Priod data..."
All this ad revenue and no spellcheck.
MY SPILLCEX DONT WIRK.
Since DeLorean TM
I wish Studebaker would make a come back.
I'd love to see a modernized Stude Hawk.
Hello Fiat..
So why arn't auto prices reflecting this drop ?
They are dropping. Year over year they are down 10%. Are you looking at a Chevy?
Why would anyone in their right mind look at a Gubmint Motors piece of crap?
With the strong dollar the imports get cheaper and merikans cant afford paying less for stuff.
It's paradoxical!
Some dumb cunt will buy a Mini Cooper for 30,000$ and next year it will be worth 15,000$. I wonder how naive people have to be to buy into this literal crap. Think of it like painkillers... people feel so fucking good until the drugs start to wear off, then it's war... or suicide.
I don't understand how BMW can even sell those cars. Have they no pride?
Are you fucking kidding?
People are paying 100k for that shitty tesla that becomes an expensive brick if you go more than 100 miles from your garage charger. There is no bottom of human stupidity.
Volvo ....
Hmmmm..., no "biggest since Lehman"even though it is? I feel so violated.
Needs to drop more if the Nissan GTR is going to fall into my affordability range.
Mortgage your house and buy it. Every talking pundit agrees.
Most people already skipped their mortgages so they can buy the new iCrap.
Like all halo Japanese cars it was sold at a loss initially. Then they raised the price more in line with demand. They probably still lose money on each one.
For those who can't drive
I fucking love the beautiful smell of deflation spreading from every conceivable corner flooding the world ..
Choke on it you fucking bankster cunts
The more deflation, the more money they need. They will seize our retirements.
Yes and part of the "all done by design" narrative.
That worked out well in Greece but they can only tap that well once and it's gone.
All was going well on the road to infinite money printing, until Fukushima. Now the reality will start to set back in, descending into a permanent sunset. It will be like that movie with Vin Diesel.
Pitch Black - apropos to our future
I'd rather buy a Godzilla than a burger. Deflation wins! Oh wait, USSA wins!
The 2nd chart goes back to 1980 - interesting.
Since DeLorean TM ...
Deflation is like Nature - it will not be tamed by men or Central bankes / planners. Just as Nature can not be tamed or controlled.
Late 70' early 80's, US auto manufacturers were turning out pieces of shit that rusted out as you drove it off the lot. This opened the door for the imports. The US auto manufacturers and unions were shocked when everyone started buying a foreign, better quality, car for lots less money.
so true. will say they have improved on quality, but sub components sucks. million miles on thre different toyotas and yet to replace an alternator, starter, or water pump. one bulb-tail light on 4 runner.
if it was a chevy, guessing 6 alternators, 3-5 starters and at least 3 water pumps.
chevy vs ford, ha fucking idiots....
my first 4 cards were a '67 bug (nice), Datsun 510 (nice little racer) then I crashed the 510 pretending to be a Laguuna Seca racer, then a Datsun B210 then a Subaru.
Don't call me Un-American but American made cars were a POS.
NoVa
Are.
since 1985
Strong dollar - cheaper imports, nothing new here.
Food prices down? I call BS on that - maybe rice.
Meanwhile, first quarter light auto sales were up 5.6% over first quarter 2014.
We're never going to get real deflation in this fiat world of ours. Disinflation is the best we can hope for.
Every new bartender or waitress needs a new car....buy it....in fact take out more on your student loan and buy it with that..why not ..its free money....that is what they are taught..and vote for..
YeeeeeeeHaaaaaaaa Lehman without the mess.
Help me find the dark cloud here. Import prices down, export prices up.
Goldilocks?
I stopped at a dealership because I saw a sporty truck I liked. Was thinking maybe of trading my 2007 Avalanche. I get over there and a guy must have been hiding somewhere pops out of nowhere to show it to me. I walk straight to the sticker and see the price. $85k. I said you guys are out of your damn minds, laughed, got back in my truck and was cured of wanting a new truck.
I wish the Volt was an import. I would use the reduced price and government handouts for equity and trade that piece in for a used German rocket.
"Other good news for Americans is that food prices are down 1.1%" (this is <sarc on, right>?
"The average bonus on Wall Street rose 2 percent last year to $172,860, even as pre-tax profits at the broker-dealer fell".
"Other good news for Americans is that food prices are down 1.1%."
LOLOLOLOL... where is that?
a loaf of bread that last fall was $1.99 at the local store is now $2.99, and sugar has jumped a bunch in the last few weeks. 50#s was ~$20, but now it's ~$24, butter is up, and who can afford meat any more? package sizes are smaller as well, because they think we're too stupid to notice.
and wait until #Failifornia doesn't grow any crops this year: hope you all like the taste of Delta Smelt.
deflation on imports coupled with used cars from sub prime defaults are a volatile mix - i wonder how much 18 month old vehicle could be offered at when the SHTF off of traditional depreciation schedule by month?
Defaulted cars will go onto the bank's parking lots and they can mark it to the "new" sticker price in their books. Additionally the Federal Reserve will buy those cars from the banks. Problem solved.
will this affect the price of my BMW? deflated...