Auto Sales Drop, Miss For 5th Month In A Row; Worst Year-To-Date Performance Since 2009

Tyler Durden's picture

Spin that Phil LeBeau...

 

This is the biggest miss for domestic auto sales since September (and weakest total print since last April)... This is the longest streak of missed expectations since 2008

 

Printing 12.88mm SAAR vs 13.40mm in March - this is the biggest year-to-date drop since 2009.

 

Charts: Bloomberg

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Deathrips's picture

Channel Stuff Em.

 

Commercial on san diego radio...if you make 350 a week in income you can afford a car no credit required.

 

RIPS

BuddyEffed's picture

Just thought I’d some catchy videos/songs and lyrics by this crowd to see if anything resonates.  A “test for echo” per say.

These videos are a fun watch, for several reasons.  Are we not entertained?  It is Friday, time to party.

https://www.youtube.com/watch?v=KleUddM2IPw

“Bounce with something cute on”

https://www.youtube.com/watch?v=WelslZZzPZo

Rockin' in the club, catch me on an elephant

Young Kreayshawn grimey, but I feel so elegant

https://www.youtube.com/watch?v=6WJFjXtHcy4

“One big room full of bad bitches”

Deathrips's picture

That shits pretty gay.

 

I dont mean happy.

 

RIPS

BuddyEffed's picture

Not on my part, at least.

Winston Churchill's picture

Methinks the dude doth protest too much.

TruthInSunshine's picture

I'll TAKE a new car if they GIVE me one for free.

My 11 year old Acura - that I do maintenance upon (not because I have to, but b/c I want to, as I'm self-sufficient as much as possible and want to make sure things are done properly) has another 5/6 years and 100,000 miles of life left.

I also have a 1996 BMW 3 series in pristine condition that I bought for 1/10th of the original price because the owner could not diagnose and fix a $120 problem.

I've checked out new vehicles - even the quality ones are more cheaply built and prone to problems than their predecessors of the 1995 to 2005 era.

crisrose's picture

247K miles on my 15 year old Lexus.  I'm hoping to get another 50k out of her.  

jdtexas's picture

The truth about GM is that they suck everywhere

GM to shed 1,000 jobs in Oshawa
Pareto's picture

you will get that much and more - easy.

all-priced-in's picture

I have been trying to put 50,000 miles on a new car before I trade - same thing for my wife -

She puts on about 5,000 miles a year - I do 4,000 on my truck.

So 10 years for her - closer to 12 for me

I have had really good luck selling them for a premium price - I keep good records and do regular maintenance.

I know I could keep them longer - and save some money - by this point they need major maintenance and tires and the interior is starting to show signs of wear.

 

It works for me - if I drove 2x as much I could still go the same number of years -  but if I kept a truck for 250,000 miles it would be 60+ years old when I traded.

 

 

 

 

SERReal1's picture

So now you can use you UE to get an Obama Car!

will ling's picture
will ling (not verified) Deathrips May 1, 2015 2:27 PM

"NOTHIN' DOWN, NEVER MAKE A PAYMENT, NO CREDIT? BAD THINGS HAPPEN TO GOOD PEOPLE. WE'LL FIX EVERYTHING. 3X VALUE ON TRADE IN. EVERTHING'S AWESOME! "

Chauncey Gardener's picture

Let's pay the payment game. How much do you want to pay--$192 a month? Great. You're approved for an 11-year loan.

Babaloo's picture

I guess imports don't count...

 

Here's the headline from Ward's Automotive Research: 

 

(FINAL) April 2015 U.S. LV Sales Thread: April Daily Sales Reach 13-Year High

 

Whose headline is more accurate?

glenlloyd's picture

Some blithering idiot on local radio said sales were up....uh...don't think so.

As I've said before, owning a new car is meaningless today. When everyone can get credit to buy a car then there's no status in it. Used to be when people had a new car and paid cash for it that was a big deal...that rarely happens today.

When you steal from your future income to enjoy a benefit today it means that future will be less enjoyable.

Omen IV's picture

used car market will be  the sweet spot in 9 months  - objective:  25% off standard depreciation curve

gmak's picture

Ummmmm.... it must be because the roads are in such bad shape after a lousy winter.

kaiserhoff's picture

VW is starting to import the new diesel Pasat into the States.

30 MPG city 60 on the open road.

Take that, Government Motors.

Creepy A. Cracker's picture

They should bring back the VW diesel pickup.  50mpg highway, 43mpg around town, 35 years ago in 1980.  No doubt it would get 70mpg with today's engines and aerodynamics.

beercandad's picture

If you could stuff 1000 lbs in the little bed , the little truck couldn't get outa it's own way.

Creepy A. Cracker's picture

Very true.  But eventually it gets up to highway speeds - assuming no uphills and a tailwind, of course.

Roadracer86's picture

New diesel Passat isn't an import....it's built in Tennessee.  The TDI version of that car has been made here since 2012. 

Make_Mine_A_Double's picture

This will be the classic text on demand pull forward. Every assclown with sub prime FICO has a new GM or a Chevy and most are underwater.

Bill of Rights's picture

And 95% of those Pieces of shit will fall apart WAY! before the loan is paid off ha ha ha ha

Winston Churchill's picture

Its why it was called the never,never, by the last depression survivors.

Bill of Rights's picture

Worst investment anyone could ever make " New car " Id rather walk.

 

But hey ( sucker ) you look good in those new wheels...now about those monthly payments.

Parsecs Taxi's picture
Parsecs Taxi (not verified) Bill of Rights May 1, 2015 2:45 PM

Buying a used car means you'll lose your friends, and forgo opportunities to make new friends, since everyone will look at you and your used car and say, "what a fuck-up."

Luckhasit's picture

Take out that lucrative gm contract with government and let's see what the real numbers are.

MFL8240's picture

More positive news to suport the higher stock prices!

starman's picture

30 year auto loans ! There fixed it.

blown income's picture

Still advertising 2014's here ....

Mike Honcho's picture

I am starting to think I need 400hp for my 20 minute commute in traffic and stoplights.  Zero down, $600 a month, 7 years, can't pass that up.

adr's picture

Demand was pulled forward in 2013-2014. Everyone that wanted to buy a new car has already bought one. It doesn't help that the new designs are horrendous. Check out the new Kia Optima design that went 15 years backwards.

http://www.caranddriver.com/news/2016-kia-optima-photos-and-info-news

We are almost halfway through 2015 and I still haven't seen 2016 models show up at most dealerships. I checked a local Honda dealership and the same car I looked at last July was still sitting on the lot.

FlameSky's picture

JD Powers and BEA have a different take on Retail SAAR...  Not sure where the data came from for this article?  Seems there may be a slight flattening of growth, but to say there is a "Miss" or "Drop" does not appear accurate...  Retail new sales are still at very high levels and will be throughout this year.

http://www.benzinga.com/pressreleases/15/04/n5441892/j-d-power-and-lmc-a...

http://3.bp.blogspot.com/-eiIxC7oRDj0/U2KccqBVAGI/AAAAAAAAe2Q/bjX-8DxqfC...

Just google "2015 Retail Light Vehicle SAAR" and see for yourself.  

Osmium's picture

Even looking at the chart provided in this article, the 12.88 units is in the avarage range that sales were in the 2002 - 2007 time period.

Bell's 2 hearted's picture

uh, you sorta ... FAILED

 

1st link - an article from ONE WEEK AGO on "expected" for april

 

2nd link - A Calculated Risk graph from april ... 2014

 

Hot off the press:

 

Industry sales in April finished at 1,454,951 vehicles, up 4.6 percent according to research firm Autodata. That was below the gain of 6 percent analysts had expected as consumer appetite for trucks and SUVs favored the "Big Three" Detroit automakers.

 

...

 

The industry's annual sales rate for the month was 16.50 million vehicles, below the 16.7 million to 16.8 million many analysts had expected.

 

http://www.reuters.com/article/2015/05/01/us-usa-autos-idUSKBN0NM3SK2015...

FlameSky's picture

Yep... My bad on the links, but at the end of the Year you will see that this market is not going anywhere but up YoY for 2015.  I think this article implies that there is some sort of drop in volume or that sales are set for some sort of decline.  I dont see that.  As I said before some flattening may occur 2016, but not until then... Check back in december....

beercandad's picture

Drive over to any new car dealer out here in the West and you cannot find an empty parking space on their lots --anywhere. Try channel stuffing !! 

silverer's picture

So hell, what's wrong with a ten year auto loan? What could possibly go wrong?

Rikky's picture

just flipped my lease on a 2012 S60 to a 2015 S60 with more features for $390 a month. i know y'all here like to brag about how little you spend on your ride and how many miles you have but like anything if you enjoy something and have the financial means to afford it knock yourselves out.

Smegley Wanxalot's picture

Yup, and I have the financial means to buy whatever I want, pretty much, but I enjoy not feeding this fucked up economy with it.  

Dazman's picture

My BMW 650... I'm 45 days overdue on it because I refuse to pay more now that I know I was "taken", and they refuse to compromise with a  principle write down. Once they take it back I'll buy car in cash; until then I'm joyriding  for free. Fuck debt, done with it.

beercandad's picture

Got my Paid fer '96 full sized road sedan 130,000 miles ,20MPG + at 75-85 mph.

Got my Paid fer '96 3/4T 4wheel drive diesel PU , 250,000 miles 17 mpg looks and drives like new!

Got a "new" paid fer 2006 3/4 T 4wheel drive diesel PU. 175,000 miles .

Do 90% of my own maintenance and don't intend to buy any more.

ThirdCoastSurfer's picture

The chart looks like a double to to me.