"These should be boom times for Detroit. Unemployment is at a half-century low, gasoline is cheap and auto sales in the U.S. were near record levels last year. Yet American automakers are closing factories, cutting shifts and laying off thousands of workers. The industry is behaving like a recession has arrived.
In one segment of the market, it has."
"Detroit is in the grips of a car recession marked by the collapse of demand for traditional sedans, which accounted for half the market just six years ago. Buyers have made a mass exodus out of classic family cars and into sport utility vehicles. Familiar sedan models such as the Honda Accord and the Ford Fusion made up a record low 30 percent of U.S. sales in 2018"
"Edmunds estimates that the average transaction price of a new vehicles reached $36,495 in December 2018 a 3 percent increase compared to December of 2016 and a 13 percent increase compared to December of 2012. Taking that knowledge, Road & Track compiled a broader picture of the new-car market and where it might be going."
"Its not just in our heads, either. Cars have actually gotten more expensive over the past 10 years, and not just by a little bit. Edmunds says that, on average, new cars sold for more than $36,000 in February, up 29 percent from the same month in 2009. Meanwhile, median household income in the U.S. has only risen to around $62,000, an increase of about six percent over the past decade. Even more cringeworthy? Interest rates have also risen in that time period, from an average of five percent to around 6.26 percent. Not only are cars more expensive, but your auto loan will now cost you more money."
"The Detroit News reports that this will ultimately push more customers into the secondhand market. However, those vehicles only represent a comparative bargain, as the average transaction price of a used vehicle rose by a hefty 36 percent between 2009 and 2018."
Source: The Oregonian
"Portland-based conservative radio host Lars Larson on Thursday claimed to identify the suspected whistleblower at the center of the Ukraine scandal and President Donald Trumps impeachment inquiry during an appearance on Fox News, apparently catching the network by surprise."
"While appearing as a panel guest on the Outnumbered Overtime show, Larson said a name he believes is the alleged whistleblower as he was criticizing the impeachment inquiry process, according to a clip of the segment that has appeared on social media. The persons name has also been circulating in articles from right-wing media outlets this week.
In a statement, a Fox News spokesperson said network officials werent aware Larson would be saying the name on air.
FOX News has not confirmed or independently verified the name of the whistleblower, the statement said."
Read more: https://www.oregonlive.com/entertainment/2019/11/portland-radio-host-lars-larson-names-suspected-donald-trumpukraine-whistleblower-on-fox-news.html
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