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May 12, 2008
Auto Industry Predictions: We're 3 for 4!
A new report from Comerica Bank shows that the average vehicle purchase, excluding finance costs, is $24,627, the lowest quarterly average in 2 1/2 years.
This jibes with our recent prediction that average transactions would drop below $25K, which you can read about here.
And while we're on a victory lap, we also would like to point out we were one of the first to point out the damage the housing crisis would have on vehicle sales, which we detailed in this video from last August.
Also, at the beginning of 2008, we were among the first to report that this would be a year of tremendous rebates.
That's three for three in our book, but one of our predictions, that Cerberus would dump Chrysler and sell Jeep, has yet to come to pass. So we have to content ourselves with a .750 batting average.
With Home Prices Dropping, Car Prices Are Sure to Follow
Video: How the Housing Bust will Hurt Auto Sales
The Great Rebate War of 2008: Pickups Fire the First Shot
Will the Credit Crunch Sink Cerberus/Chrysler?
Posted by Frank at May 12, 2008 3:48 PM | Filed under Auto Marketing | Auto News | Auto rebates | Finance | Industry Statistics