You can’t give an SUV away these days. I live near a lot of used car lots, and the big boats are just sitting there:
John Mathews of Universal Toyota in San Antonio has witnessed the day that auto industry executives in Detroit said would never come.
“We are seeing people who are driving $40,000 Suburbans trading them in on $15,000 Corollas,” said Mathews, who manages a dealership in a state where big trucks and sport-utility vehicles rule the roads. “The last 30 days have been unlike anything I’ve ever seen in the automotive industry.”
Unfortunately, this will probably be just a temporary turn of events.
Dubya says cut back on your diriving — for a few weeks.
A similar thing happened in the 70’s, but eventually the auto industry and its cusomers went back to their wasteful ways.
No, it is not temporary.
GM, which is staggering under a $300 billion debt load, has created a new line of even bigger SUV’s for 2006 and 2007.
Slightly less mileage ratings than current models.
They won’t be able to sell them, and they will be forced to enter into bankruptcy.
That $300 billion debt is largely pension plan and healthcare for retirees. It will land on the Federal Government in early 2007, and be passed to the taxpayers just as the Savings and Loan swindle was.
GM is “too big to be allowed to fail.”
But why worry — your kids and grandkids can pay it off.
GM will be replaced with cheap cars from china. NO need for a middle class in America.
Look on the bright side. We’ll be able to pick one of these monsters up real cheap and use it for our retirement homes. After all pension plans are erased and Social security is just a memory, it’s about all most people will be able to afford.