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GasBuddy News Article

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Pent up demand has Americans buying cars again

GasBuddy Blog -- There's some good news on the economic front. After postponing major purchases as long as possible Americans are buying new cars again. And we're making those purchases at the strongest rate seen in more than four years.

According to Nathan Bomey of the Detroit Free Press, robust numbers on new vehicles bought in August represent the most convincing evidence yet that the industry's recovery is sustainable as consumers replace aging vehicles and capitalize on zero percent financing.

Vehicle sales rose 20% in August compared with 2011 data on auto sales, boosting the industry's seasonally adjusted annual selling rate to 14.52 million vehicles, according to Autodata.

The major driver, analysts agree, seems...


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Submitted Sep 06, 2012 By: PD
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REPLIES (newest first) Post a Reply
honda0105
Champion Author Tallahassee

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Message Posted: Sep 10, 2012 7:48:00 AM

I keep my cars well past their 7 years, no need to buy new and go into debt.
pilotmass
Champion Author Boston

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Message Posted: Sep 9, 2012 9:03:46 AM

With over 60% of all cars 7 or more years old, its no wonder so many are starting to head to the dealerships
honda0105
Champion Author Tallahassee

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Message Posted: Sep 9, 2012 8:20:07 AM

keep buying cars and trucks w/ credit, and we'll see housing crisis repeated w/ the car credits. Except, with vehicles, not much is left after a few years that's worth repo'ing.
honda0105
Champion Author Tallahassee

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Message Posted: Sep 8, 2012 12:08:28 AM

as long as it doesn't lead to a credit crunch and ultimate defaulting on car loans...
sparky808
Champion Author Honolulu

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Message Posted: Sep 7, 2012 1:45:29 PM

old
Cakes77
Champion Author Harrisburg

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Message Posted: Sep 7, 2012 10:48:45 AM

This is like the 5th article about this here over the past 3 days! LOL
IrishCowboy
Champion Author Fort Wayne

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Message Posted: Sep 7, 2012 9:18:01 AM

People have hung on as long as they could! When it breaks down beyond repair, you gotta do something!
OldMan322
Champion Author Illinois

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Message Posted: Sep 7, 2012 8:43:23 AM

"germainesr" Not here !!
1972Pinto
Champion Author Wisconsin

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Message Posted: Sep 7, 2012 7:33:43 AM

fuzzy economics, make the numbers work for you.
remay
Champion Author Houston

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Message Posted: Sep 7, 2012 6:53:52 AM

Oh, good, I am glad someone picked up the slack for us... SKEW those numbers, MAKE it look "good".
germainesr
Champion Author Columbia

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Message Posted: Sep 7, 2012 6:02:43 AM

I don't see the economy picking up. Where is this happening?
oas
Champion Author Maryland

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Message Posted: Sep 7, 2012 6:02:37 AM

Old news.
Ringmaster2008
Champion Author Ontario

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Message Posted: Sep 7, 2012 6:02:17 AM

Proper maintenance of a vehicle will make it last for years, but eventually it has to be replaced.
Jeffro61
Champion Author Cleveland

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Message Posted: Sep 7, 2012 6:00:52 AM

Ok
WR-INC
Champion Author Twin Cities

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Message Posted: Sep 7, 2012 5:59:44 AM

Robust? Compared to the bottom maybe, but not to anything reasonable.
neptune2008
Champion Author Michigan

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Message Posted: Sep 7, 2012 5:59:28 AM

sounds delusional
Dailyrun
Champion Author Kentucky

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Message Posted: Sep 7, 2012 5:58:49 AM

Sounds doubtful!!
Petrock
Champion Author Lexington

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Message Posted: Sep 7, 2012 5:58:19 AM

The sales report may suggest it, but I don't see any good news on the economic front.
LeeFree
Champion Author Pittsburgh

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Message Posted: Sep 7, 2012 5:57:27 AM

Good for the auto industry and all that support them.
wt0826
Champion Author Ontario

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Message Posted: Sep 7, 2012 5:54:29 AM

ok
DavidsChallenge
All-Star Author Louisville

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Message Posted: Sep 7, 2012 5:52:47 AM

Old story
scottydoesnt
Champion Author Chicago

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Message Posted: Sep 7, 2012 5:51:59 AM

Pretty surprising. Must be people wanting better fuel efficiency.
DozenSpeed
Champion Author St. Louis

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Message Posted: Sep 7, 2012 5:50:38 AM

Getting hopes up on the next change
Dabozz53
Champion Author New Jersey

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Message Posted: Sep 7, 2012 5:50:29 AM

Old news
isem
Champion Author Missouri

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Message Posted: Sep 7, 2012 5:49:47 AM

Déjà vu
BM4225
Champion Author Atlanta

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Message Posted: Sep 7, 2012 5:49:32 AM

How many vehicles that are around 10 years old being traded in?
nina07
Rookie Author Virginia Beach

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Message Posted: Sep 7, 2012 5:45:12 AM

ok
hawkman1950
Champion Author Michigan

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Message Posted: Sep 7, 2012 5:44:12 AM

What ever.
ILVET
Champion Author Illinois

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Message Posted: Sep 7, 2012 5:44:12 AM

Im sorry but I cant swallow this
Z06KY
Champion Author Louisville

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Message Posted: Sep 7, 2012 5:43:41 AM

True it is trucks.
P H
Champion Author Albany

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Message Posted: Sep 7, 2012 5:43:16 AM

Wrong! Its trucks they are buying.
rjd1608
Champion Author Toledo

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Message Posted: Sep 7, 2012 5:42:33 AM

ok
SUPERSTEVIEO
Champion Author Quebec

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Message Posted: Sep 7, 2012 5:41:49 AM

OK... so theya re trading up to new models...
firtsly... we all know that August is the current year sell-off... lower prices... so this may not continue into the 4th Q...
secondly... with teh newer models coming into use... they replace gass guzzlers ( so to pspeak ) and we shoul dsee a net fuel consumption drop... so will this help in getting gas prices down????
absolutely NOT!
gas companies need to cover their infrstructure costs and keep profits up...
silverfox63
Champion Author Michigan

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Message Posted: Sep 7, 2012 5:40:11 AM

Better to see good news then bad like the previous article.
warlord1
Champion Author Georgia

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Message Posted: Sep 7, 2012 5:39:42 AM

ok
pkhdonovan
Champion Author Maine

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Message Posted: Sep 7, 2012 5:39:17 AM

at least this is a little bit of good news
StraKat
Champion Author Ohio

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Message Posted: Sep 7, 2012 5:36:20 AM

ok
batman2010
Champion Author Toronto

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Message Posted: Sep 7, 2012 5:34:09 AM

ok
slkmoo
Champion Author Ontario

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Message Posted: Sep 7, 2012 5:32:37 AM

us economy still sucking , this too will pass
FMREALTOR
Champion Author Florida

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Message Posted: Sep 7, 2012 5:32:36 AM

With gas prices shooting up, we'll see how this pans out.
shores4now
Champion Author Kentucky

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Message Posted: Sep 7, 2012 5:32:27 AM

ok
4bobux
Champion Author Peoria

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Message Posted: Sep 7, 2012 5:32:19 AM

ok
JSX515
Champion Author St. Louis

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Message Posted: Sep 7, 2012 5:31:58 AM

old
AvantiMick
Champion Author Indiana

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Message Posted: Sep 7, 2012 5:29:58 AM

It won't last long.
vamike
Champion Author Virginia

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Message Posted: Sep 7, 2012 5:28:08 AM

Gee, just in time for the election.
jci25946
Champion Author Tampa

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Message Posted: Sep 7, 2012 5:27:15 AM

Interesting.... gas prices?
gabisgram
Champion Author Michigan

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Message Posted: Sep 7, 2012 5:26:10 AM

Have one vehicle, trying to make it last as long as I can, eventually it will wear out.
Tru2psu2
Champion Author Winston-Salem

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Message Posted: Sep 7, 2012 5:24:29 AM

Sorry, no pent up demand here....
geezrtek
Champion Author Michigan

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Message Posted: Sep 7, 2012 5:24:28 AM

Yesterdays news
Ziggy1962
Champion Author New Jersey

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Message Posted: Sep 7, 2012 5:24:13 AM

Not me.
ec951
All-Star Author Riverside

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Message Posted: Sep 7, 2012 5:21:56 AM

Ok.
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