Quote:
Originally Posted by NoHaveMSG
Don't assume everyone is just going to return to work. This has more or less crashed my industry. Many have already filed for bankruptcy. We are established enough to survive but it is changing our company in a way that will last for a long time.
The 2008 recession was a boom for us.
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I'm sure it will have long term ramifications for many people and industries. I just think it is too soon to suggest the situation is worse than the 2008 recession. It definitely could be.
It is a boom for many people right now.
Quote:
Originally Posted by Tcoat
You don't get it at all do you? I am talking that to the AUTO INDUSTRY 2008 was a blip. We were more than happy to keep making cars then there were just few costumers.
It isn't a matter of sales returning. The damage is already done. Even if everybody runs out and buys a new car as soon as they can there will be none to buy. In the mean time the cash is just pissing out on the ground as the companies try and scrabble to stop it.
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I suppose the industry could have sustained such a huge impact in sales that the disruption is more permanent, but the thought was that if sales dropped from 17 million to 11 million then rebounded temporarily to 23 million (in an ideal situation) then recovery would be swift. Even if supply couldn't meet demand, then new car prices would go up, as well as, used car prices. We will have to see how it goes.