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In reply to the discussion: Hertz: Car rental firm files for US bankruptcy protection [View all]progree
(10,864 posts)2. Social distancing could be a boon to used car sales, Yahoo Finance, 5/22/20
https://finance.yahoo.com/news/social-distancing-could-be-a-boon-to-to-car-sales-181642918.html
I'm closely watching what is happening to our local public transportation system with great fear and horror. And watching state and local finances going way south. Anyone thinking public transit is going to operate indefinitely at maximum 1/4 capacity for social distancing is fooling themselves.
... Weve seen a huge increase of people coming to shift.com, says George Arison, founder and co-CEO of the peer-to-peer car marketplace. It's been kind of incredible.
Arison told Yahoo Finances The First Trade business picked up after initially declining due to shelter-in-place measures to contain the virus.
Within a couple of weeks, sales came back. We finished April down, only about 11% off of February and May is now trending to equal where we had hoped April would be, pre-pandemic, with pretty substantial growth over last year, said Arison.
... A lot more subprime applicants for financing for example, a lot more searches for domestic versus foreign made cars, and people are buying cheaper vehicles he said, noting customers are spending about $1500 less per purchase eyeing starting prices of around $14,000 versus $15,500 pre-pandemic.
... Arison believes people will use less ride-sharing services such as Uber (UBER) or Lyft (LYFT) due to social distancing.
Some people are even required to avoid it. The New York Stock Exchange told its employees they need to avoid public transportation when some of them go back to the floor when it re-opens next Tuesday.
Arison told Yahoo Finances The First Trade business picked up after initially declining due to shelter-in-place measures to contain the virus.
Within a couple of weeks, sales came back. We finished April down, only about 11% off of February and May is now trending to equal where we had hoped April would be, pre-pandemic, with pretty substantial growth over last year, said Arison.
... A lot more subprime applicants for financing for example, a lot more searches for domestic versus foreign made cars, and people are buying cheaper vehicles he said, noting customers are spending about $1500 less per purchase eyeing starting prices of around $14,000 versus $15,500 pre-pandemic.
... Arison believes people will use less ride-sharing services such as Uber (UBER) or Lyft (LYFT) due to social distancing.
Some people are even required to avoid it. The New York Stock Exchange told its employees they need to avoid public transportation when some of them go back to the floor when it re-opens next Tuesday.
I'm closely watching what is happening to our local public transportation system with great fear and horror. And watching state and local finances going way south. Anyone thinking public transit is going to operate indefinitely at maximum 1/4 capacity for social distancing is fooling themselves.
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People have to get to work, and I don't think car pools and van pools are very healthy
progree
May 2020
#5
Yes, parking fees - eats up at least one hour of wages of a low wage worker per day
progree
May 2020
#11
Just because an area is urban doesn't mean the risk is greater...seems like outbreaks are booming...
SWBTATTReg
May 2020
#13
Seriously? what'd they do with that BIG TAX CUT trump gave them in 2017, 2018, & 2019. nt
iluvtennis
May 2020
#20
Yep. But guess greed prevented them from selling some stocks to take profits and put
iluvtennis
May 2020
#26