You know back in 2007 I sold all my shares in KZL, and everything else. Right before the GFC hit and sold for various other reasons.
One key reason I remember was how I noticed that new car sales in the U.S. were on a downtrend.
When people stop buying new cars things are tightening up. Jobs, home equity, repayments, gas prices...whatever...
Though motor vehicle sales are a small component of the overall economy, expenditures of such "big-ticket" items give good insight into consumer's spending ability. Additionally, the figure gauges consumer confidence; consumers and businesses are only likely to make the outlays needed for motor vehicles if they are optimistic about their current and future economic well being. The figure is reported both as number of new automobile sales and as monthly percentage change
Latest Aussie car data:
- AUD New Vehicle Sales (MoM) (FEB) - 0.0% (down 1.3%) - AUD New Motor Vehicle Sales (YoY) (FEB) - 1.7% (down 2.7%)
