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As Incentives Soar, Auto OEMs Argue That Sticker Prices Are Dragging Down Sales [zero hedge]

FIAT CHRYSLER AUTO NV (FCAU)  More Company Research Source: zero hedge
Last fiat chrysler auto nv earnings: 4/26 04:02 pm Check Earnings Report
PDF Apparently Bloomberg and some auto executives are convinced that soaring car prices are the reason that sales are starting to slump.  Bloomberg attributes the problem to new, costly technology being added vehicles:To understand why the U.S. auto market isn’t growing, consider a top-of-the-line minivan from Fiat Chrysler Automobiles NV now costs about $50,000. With twin second-row touch screens, reclining third-row seats, a vacuum and automated parallel parking, the Chrysler Pacifica packs plenty of features to justify a hefty expense. But this big a price tag puts the prototypical family vehicle out of reach for most Americans.Ford CFO, Bob Shanks, was quick to confirm the theory because pretty much any explanation is better than the truth, which is that auto sales have been propped up by low interest rates, a subprime debt binge that puts the 2008 mortgage crisis to shame and stretched out terms of new loans.“At some point that will be one of the aspects that will continue to drive d [Read more]

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