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The Car Market Is Crashing | Paul Hodges
Forward Guidance
Car Prices Are Not an Asset
The old adage of the car losing 20% or 30% of its value as soon as you drive off the lot that always held true is no longer true. We're back to reality where cars are not an asset, really. They are products a service they use and they appreciate over time. So what you've got now is you've got the big ramp up in spending. And if I can take a minute, Jack, to explain something, what we're doing is we're changing the whole way that we're going to treat mobility becauseUp till now, we've had 100 years, well, 100 years ago, we swapped from horse drawn transport to Henry Ford and an autos.
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