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Originally Posted by ///M4ster Yoda
On this we agree. I think covid is putting and going to put a hurting on the auto industry for quite some time. People aren't buying cars like they were before the virus.
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When I was on wall street covering the auto industry a few years ago, autos were already selling poorly and in decline, a recession definitely didn't help but somehow used car transactions by volume and YoY prices are up close to double digits.
I recall average age of vehicle at the time was 12 years, and most financial investors in the auto industry targeted auto service, online marketplace retailers, aftermarket retail or specialty vehicles and not tier1/2/3 suppliers.
I would have said the rise of the gig economy could have helped car sales but COVID changed that, however, interestingly enough the importance of having your own car has never been higher.
I imagine we will have answers to all these questions in approximately 2023.