OK, 489,269 New Cars Were Sold, Now What?
What’s a dealer to do? Now that the program has all but ended, many dealers selling small, energy efficient and environmentally efficacious vehicles have no cars on their lots to — hmm, that is the question, isn’t it?
With the end of free money is there still a pent-up demand for new cars of any size going to continue?
Will the IRS tax those who got the $3,500 or $4,500 special payment to buy a new car, it was income?
Will the car gift fairy return and wave the magic Congressional wand for another spate of free money?
Will there be a return of the giant incentives from manufacturers?
What about another round of zero, zero, zero programs?
Who has new, 2010 cars in production that might capture American’s interest in a new car soon?
Or, has the CARS program, while temporarily important, sated the appetite for new cars of those few American’s who need, want and can afford a new vehicle without the bonus of a free money incentive in an economy that has barely started to respond from its semi-comatose state with trillions in financial aid?
And speaking of finances, when will the government kick the golden goose into action to pay dealers who now know what it means to have a severe case of negative cash flow. Could the good news affect of the Cash for Clunkers be diminished by slow pay?
No answers, just questions, lots and lots of questions.
Pebble Beach Concours d’Elegance: Some Old Cars Have Really Big Prices
No government funding, financing or free-bee’s were need at the recently concluded antique-exotic-autos auctions galas on the Monterey Peninsula this year as upwards of $125 million worth of vehicles were sold at auction I was told by McKeel Hagerty, CEO of Hagerty Insurance and his colleague Dave Kinney, Publisher of Hagerty’s Cars That Matter Price Guides. This amount was down slightly from published figures of the 2008 auctions.