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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Paxb2u who wrote (34802)	1/30/2011 9:47:15 AM
From: John	2 Recommendations Respond to of 71477

I was expressing cynicism. -g- Overall, the sales loss is a drop in the bucket, since 1.17 million new vehicles were registered in California in 2010 [1]. California has ~11,000 vehicles in its state autofleet [2], which is slightly less than one percent of all new vehicles sold last year in the state. Reportedly, the plan is to dump half of those at auction and not purchase any new ones for an indeterminate period of time, but the size of the impact was not the point. If an automaker, say, GM, secured a new contract with California to supply the state with a new autofleet for the next five years, it would issue a joyous press release, and the CNBS yapping heads would soil their panties over the great news, and GM's stock would probably close UP for the day. What actually happened was the opposite, so my [cynical] point was, "how can Brown's decision be weighed as good news for growth in the auto industry?" - No new purchases from the state for an indeterminate period of time - Sell about 5500 used vehicles at auction, which means those will compete with new vehicles for sales 1. mercurynews.com 2. bloomberg.com