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Car sales down as part of economic cooling?

By johnboy - 22 October 2008 27

The ABC has a piece on car sales in Canberra being down over 10% in September.

I know I’m trying to reduce my debt with troubled times ahead, how about you guys?

What’s Your opinion?


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27 Responses to
Car sales down as part of economic cooling?
Whatsup 4:20 pm 22 Oct 08

I don’t think we are near the bottom yet. I would like to be wrong because a depression will really hurt lots of people.

johnboy 4:15 pm 22 Oct 08

Buying at the bottom of the last depression made the fortune of a lot of families.

Picking the bottom is the tricky bit.

tylersmayhem 4:14 pm 22 Oct 08

I hear all of these high times and opportunities for buying properties, cars etc. But I have also heard that looking at the current financial climate, and historical records, we are about due for a depression too. If that is the case, wouldn’t it be the best time to not invest in property, if house prices take a dive after you buy for example?

Thoughts?

misspris 4:06 pm 22 Oct 08

My hubby works in the car industry and I don’t ever remember it being this quiet. It’s scaring the shit out of me quite frankly.

jakez 3:42 pm 22 Oct 08

Whatsup said :

The purchase of a car is rarely a good investment. The stats just show that Canberrians are showing some wisdom and restraint in the current economic climate.

It’s a rubbish investment, and I’m still somewhat annoyed at the opportunity cost of buying my car. My investment will be in the stock market, just before people realise that they probably got a bit carried away with the whole ‘THE RAPTURES THE RAPTURES’ THING.

peterh 2:55 pm 22 Oct 08

Wide Boy Jake said :

This “downturn” hasn’t curbed my spending habits at all, in fact it is a boon and I’m actually spending more. My entire credit card debt will be wiped out when my $1400.00 bonus comes through in December so I’m very happy indeed.

bonus!

wish i was getting one. But then, i have a job. that is a bonus in itself right now.

Wide Boy Jake 2:46 pm 22 Oct 08

This “downturn” hasn’t curbed my spending habits at all, in fact it is a boon and I’m actually spending more. My entire credit card debt will be wiped out when my $1400.00 bonus comes through in December so I’m very happy indeed.

Whatsup 2:34 pm 22 Oct 08

The purchase of a car is rarely a good investment. The stats just show that Canberrians are showing some wisdom and restraint in the current economic climate.

Growling Ferret 2:28 pm 22 Oct 08

Car sales may also be dropping as more SES are taking the option of cashing out their vehicle allowance rather than replacing the Falcodore every 40,000km…

peterh 2:12 pm 22 Oct 08

car sales, retail, wholesale, jobs, stocks, shares, aussie dollar….

all down. not much fun right now.

it will get better soon. just stick it out.

Absent Diane 1:45 pm 22 Oct 08

the bargains will get better. waiting is probably a good option atm.

caf 1:23 pm 22 Oct 08

Circumstances are forcing my hand, so it looks like I’ll be buying a property soon.

VYBerlinaV8_the_one_ 1:21 pm 22 Oct 08

Then I worry I’ll look back when it’s all over and kick myself for not buying an investment property.

There are some good bargains around at the moment. Don’t rule this option out…

jakez 1:14 pm 22 Oct 08

jakez can smell the bargains in the air and shalt invest.

Woody Mann-Caruso 1:07 pm 22 Oct 08

Was about to buy a bunch of stuff – possibly a second (secondhand) car, maybe even an investment property – but think we’ll just hunker down at wait it out. Then I worry I’ll look back when it’s all over and kick myself for not buying an investment property.

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