The financial impact of COVID-19 is going to be devastating.

[ponyo]

fixed for 'Merica

nah. Millennials want and desire Tesla, not ICE vehicles like their parents. And I believe people are going to care more about the environment and being green going forward because of COVID-19 scare. People's idea and priorities about life are going to change somewhat. It's inevitable and low gas prices be damned. EV revolution is coming and nothing can stop it. Not even low gas prices. And people want Tesla. And they'll buy it once all of this is over.

 

[Mai72]

Boomers are going to die of COVID-19. Their kids are going to inherit their parents house, stocks, land, cash, etc. The kids are going to be sad for a bit but then spend their new inherited wealth on new Tesla Model 3, Model Y, and other wants. They will spend and blow the inheritance money. It's inevitable.

If those kids weren't taught about the rules of money the yea... Many will blow their inheritance.

 

[purbeast0]

I'm concerned about what is going to happen to my favorite happy place - Aruba. 80% of their economy is tourism. They are going to be devastated without anyone coming to the island.

 

[Charmonium]

You can already see a lot of the damage that's coming if you pay attention. Big companies like Boeing are either canceling or slashing their dividends. At the same time, they're suspending or drastically paring down their stock buy back program.

Those trends are going to have significant ripple effects. For years now, stock prices have been buoyed by buy backs - that and low interest rates. So not only are people going to see less income from their investments but the value of those investments is likely to decline.

 

[nakedfrog]

nah. Millennials want and desire Tesla, not ICE vehicles like their parents. And I believe people are going to care more about the environment and being green going forward because of COVID-19 scare. People's idea and priorities about life are going to change somewhat. It's inevitable and low gas prices be damned. EV revolution is coming and nothing can stop it. Not even low gas prices. And people want Tesla. And they'll buy it once all of this is over.

Maybe you should come out to visit flyover country and then ponder millenial vehicle wants/desires again.

 

[Red Squirrel]

If those kids weren't taught about the rules of money the yea... Many will blow their inheritance.

I would love a Tesla or any EV. The Model Y does look nice. But yeah could never justify that cost. Even when my parents die if I get inheritance (they have lot of bills and debt so I don't really expect anything) I don't know if I'd feel right blowing it on a car, I would want to use it for something more special and something that will last my life time.

But yeah I could definitely see lot of people blowing inheritance on stupid stuff that won't last.

Way I see inheritance is that it's they very last thing your parents will ever provide you, so to me, I want to make it have a good impact that is long lasting so I can remember them for it.

 

[ponyo]

Maybe you should come out to visit flyover country and then ponder millenial vehicle wants/desires again.

Cybertruck

 

[Cal166]

You can already see a lot of the damage that's coming if you pay attention. Big companies like Boeing are either canceling or slashing their dividends. At the same time, they're suspending or drastically paring down their stock buy back program.

Those trends are going to have significant ripple effects. For years now, stock prices have been buoyed by buy backs - that and low interest rates. So not only are people going to see less income from their investments but the value of those investments is likely to decline.

No to mention the recent announcement of suspending their production of the Dreamliner. Next day, their top supplier halted the production of parts for BA. Ripple effects.

 

[nakedfrog]

Cybertruck

LOL
You can't roll coal in a Cybertruck, son.

 

[IronWing]

LOL
You can't roll coal in a Cybertruck, son.

The Cybertruck is literally coal powered.

 

[Fritzo]

We already had this discussion a while back, and you're still wrong
A very brief search here turned up 5 cars from 2012 in the $5000-6000 range.

With 200K+ miles on them

 

[nakedfrog]

With 200K+ miles on them

Looks more like 75k-130k.

 

[Tweak155]

nah. Millennials want and desire Tesla, not ICE vehicles like their parents. And I believe people are going to care more about the environment and being green going forward because of COVID-19 scare. People's idea and priorities about life are going to change somewhat. It's inevitable and low gas prices be damned. EV revolution is coming and nothing can stop it. Not even low gas prices. And people want Tesla. And they'll buy it once all of this is over.

Millennial here, lease a big f'n truck. Just sayin'. Could not care less about a Tesla.

 

[Red Squirrel]

The Cybertruck is literally coal powered.

Only if you drive it in a 3rd world country that is still stuck in the early 1800's.

But even in that case it's actually still cleaner than a gas truck. A coal plant is cleaner per kwh than individual gas vehicles. In most civilized places though power comes from hydro dams, solar farms, wind turbines, natural gas (still pollutes but cleaner than most forms of fossil fuel) and nuclear.

Actually didn't realize nuclear was a big part of the power here, figured it was hydro, but this is kinda neat:

http://webroots.ca/static/ontarioelectricity/ontarioelectricity.html

 

[Wreckem]

10% of income as the purchase price of a car isn’t practical for most people. 10% of annual income spent on total cost of car ownership annually is much more realistic while still being financially sound.

The problem is a lot of people are spending 25% on car expenses because they think they need be ballas.

After all this mess is over with I plan to buy a Telluride(me) and a GV80(my wife). Hopefully we can get them at discounts. I keep getting dealers to say they are offering once in a lifetime deals but they arent. Yes 0% for 84 months is a “deal”. I’d rather have discount prices on the cars. Eventually dealerships will get desperate. I bought my first new new car during the auto bailouts and I got an amazing price on the car. $17k our the door including tt&l on a $27k Mary car. This will be far more damage on the auto industry than the Great Recession so I’m hoping to get a good deal this fall.

 

[nakedfrog]

The Cybertruck is literally coal powered.

Not the same and you know it

Millennial here, lease a big f'n truck. Just sayin'. Could not care less about a Tesla.

Exactly, people that want a big truck, WANT a big truck, and it's just part of the culture here.

 

[Fritzo]

Looks more like 75k-130k.

Took a look at 2012+ cars for $6000 or less within 100 miles of me.

80% of them were Dodge Journey or Dodge Avengers- with 150-180K miles on them. Absolute crap moneypit cars.
A few Ford Focuses with 130-180K miles on them- transmissions on these models were ticking time bombs
And several Fiat 500's- the consistently worst rated car on every list since their introduction

There was 1 base model 2012 Chevy Malibu with 160K miles (it had roll up windows!), and interesting diesel Chevy Cruze with 262K miles, and some Kias.

Cheap cars at the end of their life means you're most likely going to get 2-3 years out of it while investing a lot in repairs and worrying about reliability every time you drive it. What's the difference between paying $6000 every 3 years or $18 for something you keep 8-10 years?

 

[Svnla]

<snip> What's the difference between paying $6000 every 3 years or $18 for something you keep 8-10 years?

How about a Honda or Toyota for about $25K out the door and keep it for over 20 years? I know several people with over 20 years old vehicles with over 150K+ and more miles and they are still running fine.

In other news, the financial hits will not just in the US but around the world. From rich to poor countries with the poor folks in poor countries are in even worse shape financially.

 

[highland145]

no m3, no women

got to pay to be a playa

I think we have enough evidence that's just false.

Wanna fight about it? Come at me, bro.

Yeah, I thought not.

 

[ultimatebob]

Cybertruck

I don't think that your average farmer in Iowa or Texas is going to be able to afford a new Cybertruck. Even if they could, they're going to be convinced that it's as durable as their old Ford F-150.

I have a hunch that they're going to make more money with the Model Y, although it's not really my style.

 

[Red Squirrel]

Buy a Tesla AND an M3, then swap the drive trains. Just because.

 

[ponyo]

I don't think that your average farmer in Iowa or Texas is going to be able to afford a new Cybertruck. Even if they could, they're going to be convinced that it's as durable as their old Ford F-150.

I have a hunch that they're going to make more money with the Model Y, although it's not really my style.

Cybertruck is priced competitive with ICE trucks. Cybertruck is electric so it will be more durable than Ford F-150. Average farmer is not stupid.

 

[Dr. Detroit]

Only if you drive it in a 3rd world country that is still stuck in the early 1800's.

But even in that case it's actually still cleaner than a gas truck. A coal plant is cleaner per kwh than individual gas vehicles. In most civilized places though power comes from hydro dams, solar farms, wind turbines, natural gas (still pollutes but cleaner than most forms of fossil fuel) and nuclear.

What is the environmental impact of mining rare earth minerals to build these batteries?
Or does what goes on in African strip mines not bother you?

Does the pollution of heavy minerals in the earths air not bother you? The Sierra Nevada mountains and its snowpack is polluted with heavy minerals that comes over in the jet-stream from China!

Does the damming of rivers which contribute to the decline to native fish not bother you?

How about all those rare earth minerals in building those solar panels in China?

Nuclear is the answer. The public disagress due to the fear mongering.

 

[ultimatebob]

Cybertruck is priced competitive with ICE trucks. Cybertruck is electric so it will be more durable than Ford F-150. Average farmer is not stupid.

Hey... I hope that you're right! I bought into TSLA at 355 (no seriously, I wasn't kidding when I said that I was looking for a cheap entry point), so I need you to keep being my pitch man, Ponyo!

Farmers tend to be pretty conservative when it comes to big ticket purchases, so I'll imagine that they'll wait a year or two to see how the Cybertruck holds up to abuse. They'll probably sit back and let the urban cowboy wannabe hipsters in places like Memphis and Austin beta test the product for them

 

[Fritzo]

How about a Honda or Toyota for about $25K out the door and keep it for over 20 years? I know several people with over 20 years old vehicles with over 150K+ and more miles and they are still running fine.

In other news, the financial hits will not just in the US but around the world. From rich to poor countries with the poor folks in poor countries are in even worse shape financially.

You actually know several people that have owned the same car for 20 years?

I know a lot of people and not one has had a car that long. Which one of us is weird?