Originally Posted By: 440Magnum
Some time starting in the 50s and completing with the rise of the Japanese carmakers in the 80s, cars turned from being "durable goods" to use-once-and-throw-away fashion statements. That's fine so long as consumers can continue to buy new ones every 2-5 years. But when the economy gets tight and people realize, "duh, I don't HAVE to have a car payment every month!" it goes to [censored] in a handbasket for an industry that's made itself dependent on rapid product turnover.
My thoughts exactly. This applies to other "durable goods" as well. Greed is NOT good..... in the LONG run.
Some time starting in the 50s and completing with the rise of the Japanese carmakers in the 80s, cars turned from being "durable goods" to use-once-and-throw-away fashion statements. That's fine so long as consumers can continue to buy new ones every 2-5 years. But when the economy gets tight and people realize, "duh, I don't HAVE to have a car payment every month!" it goes to [censored] in a handbasket for an industry that's made itself dependent on rapid product turnover.
My thoughts exactly. This applies to other "durable goods" as well. Greed is NOT good..... in the LONG run.