Economic Crisis wont affect Oz Car Industry ??

I wonder if that means my two for one offer from Toyota is still alive?

I thought that the Govt had given a rescue package of sorts to the dealers by making finance available again ?

I agree with you oldbaz. A few months and even weeks ago we were being told that in Australia the "fundamentals" were sound! With regard to the present financial situation there are no experts - only charlatans who think they know what's going on. Even now there is still debate about what caused the great depression of the 1930's.

Too much greed , not enough lovin .

Snowball Effect. This was a big snowball - the Avalanche is on the way. Cant stop it and the walls will not hold it back. We will learn to live with it. Maybee in the future our greed will not be as bad. Best of luck - Cheers Tony. :-)

ABC Business today program this morning gave a pretty concise viewpoint of where the crisis will head in 2009. The opinions were sought from several heads of various business sectors. Outlook was not good. Australia will be in a recession next year. If your employment is secure and you don't rely on investment income, either stock market or property based, or on people buying the products you manufacture, you'll have cheaper petrol and Interest rates. If not, it's a gloomy year or two ahead for the majority of people in the workforce and no doubt for a lot of the members on this forum who are retired and derive their income from their super and other investments.

I don't know if it's just me but have we all been lulled into a sense of false security by the prosperous decade we've just been through. I can remember two other disastrous economic times in my relatively medium termed life (I ain't old yet). I don't know what the answers are but pragmatism, common sense, financial caution and knuckling down, all on a personal level, will hopefully see us through as they all ways have. The majority of the outback is still free so that's a positive (and hopefully diesel will be cheap enough to get us there).

Mick

The banks are offering a rescue finance package to the car dealers not the govt. History shows that what goes in the US follows on in Oz about 6 months later; however not necessary to the same degree. Of course we will hurt; its just a matter of how much. As you stated, new car sales are off compared to the earlier months this year and the after Xmas period will probally be a telling one for all Oz retailers. I think early 2009 will be a great time to grab a super deal on a new vehicle but the downside will be an absolute bleep of a trade in price.

Interesting, how some of this "downturn" is affecting various businesses. I presume the caravan/camper dealers are suffering like the car yards. Yet, most people in retail that I come across are doing ok and everybody that I know in the building trade are stacked with work, which I find surprising, given the medium/long term financial committment required from the buyer/homeowner. I suppose these car dealers are committed to take on new stock which is not moving on. Maybe depreciating assets and all that.......?? Just hope the gloom isn't as widespread or lasting as feared.

Just curious how this will affect the second-hand car market.

Cheers....Lionel.

All anyone can do is smile , expert economists predicted "prosperity"for all just before the great depression , expert economists told us 12/18 mths ago that all is well ,now the same experts cry foul or that its a "market correction" and all will be well again in a year or three ,,, smile , history just repeating the inevitable and perhaps we will one day learn that the catch cry of "greed is good" is not that good after all.

read somewhere that about 900 auto dealers in theu USA went belly up inthe last month.

Also read somewhere that 1GMH dealer in Melb went to the wall and holden won;t take the inventory back - all the vehicles new & used to go to Pickles Auctions with no reserves.....

I'd say it is only the start here.

Local GMH dealer last week still isn't giving them away tho - didnt even offer a discount off Full RRP for cash no trade - needless to say he lost a sale!

I'll wait till he's hurting a bit more before I go back.

Who knows - things get bad enough he might even Pay me to take one off his hands! ;o)

Cheers

My Novated lease on a Fairlane expires early 2009. Pickles are saying they want $7K plus vehicle to pay out end of contract. Shows where they think 2nd hand car prices are going.

Bruce

An ailing car industry is only a tiny part of a much bigger problem.....

Some "interesting" reading to be found on the Global Research website... (keep ya occupied for a while;-))

This article is printed in the current issue (Vol. 16, No.1) of "Nexus" magazine...

Vewy,vewy intewesting indeed (not to mention just a little bit scary)..................