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The PJ Tatler

by
Stephen Green

Bio

September 5, 2013 - 4:18 am

And here it is:

The U.S. auto industry has shifted into high gear with new-car buyers snapping up vehicles last month at a pace not seen since before the financial crisis.

Low interest rates and slow-but-steady job growth are encouraging consumers to trade in cars and trucks that average about 11 years old, say auto makers, which are adding production capacity and overnight shifts to satisfy demand.

The age of the fleet is a big driver (ahem) here, after the recession killed new car sales and Cash for Clunkers drove up prices for used cars.

Stephen Green began blogging at VodkaPundit.com in early 2002, and has served as PJMedia's Denver editor since 2008. He's one of the hosts on PJTV, and one-third of PJTV's Trifecta team with Scott Ott and Bill Whittle. Steve lives with his wife and sons in the hills and woods of Monument, Colorado, where he enjoys the occasional lovely adult beverage.

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All Comments   (4)
All Comments   (4)
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I've seen reports that Ally (nee GMAC) is writing a lot of subprime auto loans to support those sales numbers.
46 weeks ago
46 weeks ago Link To Comment
Yeah, the Zero Hedge guys have been all over this. The New GM is getting just as bad as the bad Old GM when it comes to subprime lending and channel stuffing.
46 weeks ago
46 weeks ago Link To Comment
I doubt very much that I'll ever buy another car. My 1989 Ford Bronco has 277,000 miles on it, and still runs beautifully. Frankly, I do not want some of the government-mandated "features" that now (and will, in the future) come with a new car.
46 weeks ago
46 weeks ago Link To Comment
I agree that the age and condition of the cars that many people are driving are the factors driving the new-car market. My 11-year-old Saturn SL has almost 158,000 miles on it. It's still running reasonably well so I hope to continue driving it for at least another 42,000 miles.
46 weeks ago
46 weeks ago Link To Comment
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