Here's an interesting stat...
JD Power Cuts 2008 US Auto-Sales View, Sees Drop In 2009
Quote:
U.S. sales have worsened over the past two years as customers have begun holding on to their vehicles longer. J.D. Power noted Thursday [October 09, 2008: 11:54 AM EST] that on average consumers are keeping their vehicles four months longer than last year - 71 months versus 67 months. Leasing activity has also slumped as auto financiers have been ratcheting back on such deals amid slumping resale values, especially for less fuel-efficient pickups and sport-utility vehicles.
Amid the woes, GM shares hit a 58-year low Thursday, while Ford Motor Co. (F) reached a 24-year nadir Wednesday. GM shares were recently down 18% at $5.70 while Ford dropped 9.1% to $2.4
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71 months is 6 (5.916) years!
Doing a little extrapolation, I *think* I can see why the auto industry is worried about 'us' buying "small cars" - and it doesn't have anything to do with the "enviroment", so called, unless they're talking about the "business enviroment"!
