Not Logged In Log In   Sign Up   Points Leaders
Follow Us    4:37 PM

GasBuddy News Article

47
votes
Pent up demand has Americans buying cars again

GasBuddy Blog -- There's some good news on the economic front. After postponing major purchases as long as possible Americans are buying new cars again. And we're making those purchases at the strongest rate seen in more than four years.

According to Nathan Bomey of the Detroit Free Press, robust numbers on new vehicles bought in August represent the most convincing evidence yet that the industry's recovery is sustainable as consumers replace aging vehicles and capitalize on zero percent financing.

Vehicle sales rose 20% in August compared with 2011 data on auto sales, boosting the industry's seasonally adjusted annual selling rate to 14.52 million vehicles, according to Autodata.

The major driver, analysts agree, seems...


Read the Full Article

Submitted Sep 06, 2012 By: PD
Category: GasBuddy Official Blog > Topics Add to favorite topics   Post new topicPost New Topic
Author Topic: Pent up demand has Americans buying cars again Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
honda0105
Champion Author Tallahassee

Posts:23,770
Points:2,351,190
Joined:Nov 2008
Message Posted: Sep 10, 2012 6:48:00 AM

I keep my cars well past their 7 years, no need to buy new and go into debt.
Profile Pic
pilotmass
Champion Author Boston

Posts:5,159
Points:1,241,265
Joined:Jul 2011
Message Posted: Sep 9, 2012 8:03:46 AM

With over 60% of all cars 7 or more years old, its no wonder so many are starting to head to the dealerships
Profile Pic
honda0105
Champion Author Tallahassee

Posts:23,770
Points:2,351,190
Joined:Nov 2008
Message Posted: Sep 9, 2012 7:20:07 AM

keep buying cars and trucks w/ credit, and we'll see housing crisis repeated w/ the car credits. Except, with vehicles, not much is left after a few years that's worth repo'ing.
Profile Pic
honda0105
Champion Author Tallahassee

Posts:23,770
Points:2,351,190
Joined:Nov 2008
Message Posted: Sep 7, 2012 11:08:28 PM

as long as it doesn't lead to a credit crunch and ultimate defaulting on car loans...
Profile Pic
sparky808
Champion Author Honolulu

Posts:5,845
Points:1,315,185
Joined:Sep 2011
Message Posted: Sep 7, 2012 12:45:29 PM

old
Profile Pic
Cakes77
Champion Author Harrisburg

Posts:7,481
Points:2,316,005
Joined:Aug 2006
Message Posted: Sep 7, 2012 9:48:45 AM

This is like the 5th article about this here over the past 3 days! LOL
Profile Pic
IrishCowboy
Champion Author Fort Wayne

Posts:1,441
Points:729,030
Joined:Jan 2011
Message Posted: Sep 7, 2012 8:18:01 AM

People have hung on as long as they could! When it breaks down beyond repair, you gotta do something!
Profile Pic
OldMan322
Champion Author Illinois

Posts:10,837
Points:2,328,645
Joined:Jul 2008
Message Posted: Sep 7, 2012 7:43:23 AM

"germainesr" Not here !!
Profile Pic
1972Pinto
Champion Author Wisconsin

Posts:189,098
Points:1,008,050
Joined:Aug 2012
Message Posted: Sep 7, 2012 6:33:43 AM

fuzzy economics, make the numbers work for you.
Profile Pic
remay
Champion Author Houston

Posts:9,840
Points:2,847,440
Joined:May 2006
Message Posted: Sep 7, 2012 5:53:52 AM

Oh, good, I am glad someone picked up the slack for us... SKEW those numbers, MAKE it look "good".
Profile Pic
germainesr
Champion Author Columbia

Posts:4,195
Points:1,069,990
Joined:Sep 2008
Message Posted: Sep 7, 2012 5:02:43 AM

I don't see the economy picking up. Where is this happening?
Profile Pic
oas
Champion Author Maryland

Posts:7,324
Points:2,880,065
Joined:Feb 2005
Message Posted: Sep 7, 2012 5:02:37 AM

Old news.
Profile Pic
Ringmaster2008
Champion Author Ontario

Posts:10,420
Points:1,685,410
Joined:Apr 2008
Message Posted: Sep 7, 2012 5:02:17 AM

Proper maintenance of a vehicle will make it last for years, but eventually it has to be replaced.
Profile Pic
Jeffro61
Champion Author Cleveland

Posts:4,962
Points:2,939,250
Joined:Oct 2005
Message Posted: Sep 7, 2012 5:00:52 AM

Ok
Profile Pic
WR-INC
Champion Author Twin Cities

Posts:43,777
Points:4,359,845
Joined:Dec 2002
Message Posted: Sep 7, 2012 4:59:44 AM

Robust? Compared to the bottom maybe, but not to anything reasonable.
Profile Pic
neptune2008
Champion Author Michigan

Posts:10,647
Points:2,311,415
Joined:Aug 2008
Message Posted: Sep 7, 2012 4:59:28 AM

sounds delusional
Profile Pic
Dailyrun
Champion Author Kentucky

Posts:2,217
Points:434,915
Joined:Apr 2012
Message Posted: Sep 7, 2012 4:58:49 AM

Sounds doubtful!!
Profile Pic
Petrock
Champion Author Lexington

Posts:12,234
Points:3,299,085
Joined:Apr 2005
Message Posted: Sep 7, 2012 4:58:19 AM

The sales report may suggest it, but I don't see any good news on the economic front.
Profile Pic
LeeFree
Champion Author Pittsburgh

Posts:12,203
Points:2,975,550
Joined:Jun 2005
Message Posted: Sep 7, 2012 4:57:27 AM

Good for the auto industry and all that support them.
Profile Pic
wt0826
Champion Author Ontario

Posts:5,902
Points:1,390,730
Joined:Jun 2009
Message Posted: Sep 7, 2012 4:54:29 AM

ok
Profile Pic
DavidsChallenge
All-Star Author Louisville

Posts:635
Points:125,805
Joined:Aug 2012
Message Posted: Sep 7, 2012 4:52:47 AM

Old story
Profile Pic
scottydoesnt
Champion Author Chicago

Posts:4,552
Points:608,750
Joined:Apr 2011
Message Posted: Sep 7, 2012 4:51:59 AM

Pretty surprising. Must be people wanting better fuel efficiency.
Profile Pic
DozenSpeed
Champion Author St. Louis

Posts:1,293
Points:392,000
Joined:Sep 2011
Message Posted: Sep 7, 2012 4:50:38 AM

Getting hopes up on the next change
Profile Pic
Dabozz53
Champion Author New Jersey

Posts:4,836
Points:608,825
Joined:Sep 2011
Message Posted: Sep 7, 2012 4:50:29 AM

Old news
Profile Pic
isem
Champion Author Missouri

Posts:5,024
Points:1,164,590
Joined:Feb 2012
Message Posted: Sep 7, 2012 4:49:47 AM

Déjà vu
Profile Pic
BM4225
Champion Author Atlanta

Posts:12,967
Points:2,785,020
Joined:Aug 2006
Message Posted: Sep 7, 2012 4:49:32 AM

How many vehicles that are around 10 years old being traded in?
Profile Pic
nina07
Rookie Author Virginia Beach

Posts:1
Points:295
Joined:Sep 2012
Message Posted: Sep 7, 2012 4:45:12 AM

ok
Profile Pic
hawkman1950
Champion Author Michigan

Posts:5,754
Points:1,281,880
Joined:Aug 2010
Message Posted: Sep 7, 2012 4:44:12 AM

What ever.
Profile Pic
ILVET
Champion Author Illinois

Posts:18,095
Points:3,663,970
Joined:Jan 2005
Message Posted: Sep 7, 2012 4:44:12 AM

Im sorry but I cant swallow this
Profile Pic
Z06KY
Champion Author Louisville

Posts:8,262
Points:1,640,750
Joined:Nov 2010
Message Posted: Sep 7, 2012 4:43:41 AM

True it is trucks.
Profile Pic
P H
Champion Author Albany

Posts:68,401
Points:3,148,080
Joined:Jan 2004
Message Posted: Sep 7, 2012 4:43:16 AM

Wrong! Its trucks they are buying.
Profile Pic
rjd1608
Champion Author Toledo

Posts:8,424
Points:2,668,355
Joined:Aug 2003
Message Posted: Sep 7, 2012 4:42:33 AM

ok
Profile Pic
SUPERSTEVIEO
Champion Author Quebec

Posts:3,523
Points:787,115
Joined:Oct 2010
Message Posted: Sep 7, 2012 4:41:49 AM

OK... so theya re trading up to new models...
firtsly... we all know that August is the current year sell-off... lower prices... so this may not continue into the 4th Q...
secondly... with teh newer models coming into use... they replace gass guzzlers ( so to pspeak ) and we shoul dsee a net fuel consumption drop... so will this help in getting gas prices down????
absolutely NOT!
gas companies need to cover their infrstructure costs and keep profits up...
Profile Pic
silverfox63
Champion Author Michigan

Posts:10,996
Points:2,301,635
Joined:Oct 2008
Message Posted: Sep 7, 2012 4:40:11 AM

Better to see good news then bad like the previous article.
Profile Pic
warlord1
Champion Author Georgia

Posts:7,573
Points:1,733,435
Joined:May 2010
Message Posted: Sep 7, 2012 4:39:42 AM

ok
Profile Pic
pkhdonovan
Champion Author Maine

Posts:15,117
Points:3,445,905
Joined:Sep 2005
Message Posted: Sep 7, 2012 4:39:17 AM

at least this is a little bit of good news
Profile Pic
StraKat
Champion Author Ohio

Posts:4,930
Points:1,109,600
Joined:Jan 2011
Message Posted: Sep 7, 2012 4:36:20 AM

ok
Profile Pic
batman2010
Champion Author Toronto

Posts:4,722
Points:1,734,770
Joined:Jan 2010
Message Posted: Sep 7, 2012 4:34:09 AM

ok
Profile Pic
slkmoo
Champion Author Ontario

Posts:4,032
Points:1,043,520
Joined:Apr 2012
Message Posted: Sep 7, 2012 4:32:37 AM

us economy still sucking , this too will pass
Profile Pic
FMREALTOR
Champion Author Florida

Posts:9,448
Points:2,430,505
Joined:Jan 2007
Message Posted: Sep 7, 2012 4:32:36 AM

With gas prices shooting up, we'll see how this pans out.
Profile Pic
shores4now
Champion Author Kentucky

Posts:5,578
Points:1,265,075
Joined:Jul 2009
Message Posted: Sep 7, 2012 4:32:27 AM

ok
Profile Pic
4bobux
Champion Author Peoria

Posts:4,292
Points:1,072,095
Joined:Mar 2012
Message Posted: Sep 7, 2012 4:32:19 AM

ok
Profile Pic
JSX515
Champion Author St. Louis

Posts:6,659
Points:1,535,495
Joined:Feb 2011
Message Posted: Sep 7, 2012 4:31:58 AM

old
Profile Pic
AvantiMick
Champion Author Indiana

Posts:15,738
Points:3,264,360
Joined:Dec 2005
Message Posted: Sep 7, 2012 4:29:58 AM

It won't last long.
Profile Pic
vamike
Champion Author Virginia

Posts:8,104
Points:2,079,255
Joined:Dec 2008
Message Posted: Sep 7, 2012 4:28:08 AM

Gee, just in time for the election.
Profile Pic
jci25946
Champion Author Tampa

Posts:6,279
Points:1,678,720
Joined:Jan 2006
Message Posted: Sep 7, 2012 4:27:15 AM

Interesting.... gas prices?
Profile Pic
gabisgram
Champion Author Michigan

Posts:4,408
Points:1,423,290
Joined:Sep 2006
Message Posted: Sep 7, 2012 4:26:10 AM

Have one vehicle, trying to make it last as long as I can, eventually it will wear out.
Profile Pic
Tru2psu2
Champion Author Winston-Salem

Posts:18,189
Points:2,244,325
Joined:Feb 2004
Message Posted: Sep 7, 2012 4:24:29 AM

Sorry, no pent up demand here....
Profile Pic
geezrtek
Champion Author Michigan

Posts:4,986
Points:887,650
Joined:Apr 2011
Message Posted: Sep 7, 2012 4:24:28 AM

Yesterdays news
Profile Pic
Ziggy1962
Champion Author New Jersey

Posts:70,885
Points:2,551,190
Joined:Aug 2006
Message Posted: Sep 7, 2012 4:24:13 AM

Not me.
Profile Pic
ec951
All-Star Author Riverside

Posts:909
Points:390,515
Joined:Nov 2011
Message Posted: Sep 7, 2012 4:21:56 AM

Ok.
Post a reply Back to Topics