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06.26.2009 12:34 pm

Car dealers are unanimous in their pessimism

St. Louis Post-Dispatch
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Unanimity is rare in surveys of business people, but the St. Louis Fed found it among area car dealers. The Fed’s latest Burgundy Book survey says that all the dealers it talked to expect lower sales this year.  Other retailers aren’t quite as pessimistic, but half of them expect sales to fall and only one-third expect sales to rise.

In real estate, the Burgundy Book notes that residential construction remains slow, with building permits down 41 percent in the first four months of 2009. It says the commercial market is in relatively better shape, but adds a note of warning:

Still, a contact in the St. Louis area noted that the demand for industrial real estate is waning and that the market is currently overbuilt.

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61 comments

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“I love it when people say “I have 2 degrees and am working my Masters”(I am 5 classes into my PhD). If you have 2 degrees and sell cars those degrees are probably from “Vatterot college” or “Sanford Brown”. Let me guess they are in “medical billing”. “Dental assistance”?

— w.champion
6:03 pm June 26th, 2009

I have already decided I am putting off buying a new car till next year. The “salesman” does not have to deal with this “stupid” customer.

— w.champion
6:04 pm June 26th, 2009

You dig deep. Actually my degrees are from U of I. PhD? I doubt if people with PhD’s argue on stltoday.com. University of Phoenix huh? So keep driving your 94 BMW ”Doctor”. Good luck with your next car purchase, that is if we can get you a loan with your debt to income. Seacrest out!

— carguy
7:33 pm June 26th, 2009

I looked at a late model minivan at a dealer couple weeks ago. The regular price was $14,800, but was offered at a “weekend special clearance” price of $12,800.

I searched blue book and found that trade in value was about $8000, private retail about $9500 and dealer retail about $10,500. I offered $9600 and I got countered at $11,995. Final counter was $10,995 followed by another counter by phone for $10,500.

I have been on both sides of the car sales game. I understand it, don’t really like it, but I know how to play it. It does bother me when I see some people I care about paying way too much for their cars (83 year old father), etc.

— vt
7:42 pm June 26th, 2009

I love it. Only on the Post Blog could a car salesman be so snotty. Look douche I did not pick your career. If you are not happy with cars maybe appliances at Sears would be better. Maybe carpet at Becky’s. I mean let’s really put that U of I degree to work for you. I thought I said earlier I drove a Nissan not a BMW. You will have to wait till I finish my dissertation to call me Dr. but thats for showing proper respect. Now go push you “undercoating & fabric sealant”

— w.champion
7:48 pm June 26th, 2009

I love how “carguy” talks about what I drive, “94 BMW” (I actually drive a 4 year old Nissan). You drive the floor sample car with the dealer plates and make comments about others cars. I am guessing your U of I degree is not in “communications”. maybe it is “art history”, did you use to be a barista?

— w.champion
7:53 pm June 26th, 2009

Alright, I got a PhD’er to call me a name. And your university should teach you grammar. Learn to spell pal.

— carguy
7:58 pm June 26th, 2009

Ah spellchecker, the comeback of the intellectually lazy. Hey, I am sure I made some puncuation mistakes to.

I want to do a Budweiser commercial:”real men of genius” today we salute you mister spellchecking blogger guy. You call people out for spelling, you have taken the high road and now everyone knows how smart you are mister spellchecking blogger guy.

I mean you have to sing it to the real men of genius song. But you get the idea. No go get me those “special floor mats”.

— w.champion
8:08 pm June 26th, 2009

OK, I have to go but if I have learned one thing tonight it is this. When I go in to buy my new car I will follow one rule. This guy trying to sell me could be “carguy”. I will make sure I am more of an a$$ to every car salesman I meet, from here on out.

— w.champion
8:15 pm June 26th, 2009

I’m actually kind of sorry it escalated into name calling. For the most part we are not bad people. It’s just gotten harder to sell cars. I am trying to make it one more year and I will begin my new career and not at
Sears either. So w. champion good luck to you and to everyone else too!

— carguy
8:20 pm June 26th, 2009

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