Word: keepeing
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...first and most powerful argument against a major car company refurbishing its own used products is that it will keep people from buying new cars. In some cases that is true. But, the fact that Ford's sales monthly are down as much as 40% undercuts the logic. As people keep cars longer, the argument will be less compelling. Most new vehicle buyers now probably fall into two groups. The first are people whose vehicles are so old or badly damaged that they need a new car. The other group is people who want a new car, can afford...
...There were green lights everywhere, but not enough momentum to turn on the afterburners that keep traders moving into the market. That last ingredient showed up when GE (GE) disclosed that S&P had cut its coveted AAA rating to AA+. Some expected the downgrade to be worse or that S&P would indicate it saw more bad news coming for the large conglomerate. That did not happen. So, the news was "better than expected" and whatever gravity had been holding stocks down disappeared. The news about GE shows how perverse the market has become and also serves...
...stages of car ownership that work to the benefit of the car company and its dealers begin when the consumer buys a car, but often ends when the auto warranty expires. Once car owners have to pay real cash to keep their vehicles running, they often try to find alternatives to dealer-based service. The small business website Manta lists 135, 967 auto repair shops in its directory. There are probably many more than that but getting an accurate count of businesses that may employ only one or two people is almost impossible. The National Automobile Dealers Association, in contrast...
...well-maintained car is good for 100,000 miles or more and perhaps six or seven years of use. Americans are learning that the hard way because they can't afford new cars, but it is a lesson which is not likely to be unlearned. People are going to keep cars longer and fewer new cars are going to be sold. America's car companies are in a better position to refurbish or repair cars and trucks than local mechanics are. Their service departments have almost uniformly well-trained people. They have access to new parts from the manufacturer. They...
...original manufacturer can take a four- or five-year-old car and transform it into one that operates like a one-year old car with a modest amount of work. It is profitable work for the car dealer and the car company which supplies the parts. It helps keep parts manufacturers in business and pushes up sales through the entire chain of industries that make, sell, and service automobiles. (See pictures of Detroit's decline...