Summer is here, and it’s time for a vacation. But this year, flight schedules are anything but reliable, and that new car for the road trip is probably not available at the local Toyota, Honda, Tesla, General Motors, Ford, etc dealership. Due to chip shortages and other issues, most car dealerships have little to no inventory to sell.
High inflation and rising interest rates combined with high gasoline prices are causing people to rethink or pay more attention to their monthly budget expenditures. Furthermore, if you do decide to buy a used car, be prepared to pay top dollar. In some cases, a 3-year-old model may cost you as much as a new one. Historically autos almost always depreciate, but we are in an unusual market phenomenon where many used cars have appreciated significantly.
What about the auto company stocks themselves? Cash is looking great versus owning one of these auto brands.US DOLLAR INDEX • DXY • CAPITALCOM • WEEKLYHONDA -27.57% HONDA MOTOR COMPANY, LTD. • HMC • NYSE • WEEKLYGENERAL MOTORS COMPANY • GM • NYSE • WEEKLYBy Chris Vermeulen Contributing to kitco.com
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