By: Darian T.

Darian T. — Thu, 30 Apr 2009 04:56:35 +0000

These three huge and gigantic automakers ignored outside aspects such as economic recession and most importantly environmental concerns for several decades. And now that auto-industry has been hit hard by the economic crisis today, at least environmental awareness and sustainability became a priority. That is why Crysler launched their new car model. The peapod car is an all electric vehicle made by Chrysler, which is lauded by some and lamented as a hyper expensive golf cart by others. It may not be the electric vehicle worth getting a payday loan to look into, however. It costs $12,500, has a range of 30 miles and can only go 25 mph. It also has a cool feature in that it can be unlocked by a downloadable software application on the iPhone or iPod of the owner, all along with a smiley face looking grill. Still, with such a limited range and speed, installment loans for the peapod car seem like a stretch.

By: Michael Kowalski

Michael Kowalski — Mon, 12 Jan 2009 19:12:43 +0000

I lived in America during the first 3 oil calamaties. As Mr. Afyouni states the history of the large automobile is quite correct, he fails to denote that capitalist industry tries to meet what people will buy. In 1973, during our first calamity, America did have the Pinto, Vega, and Gremlin…but also the various imports. The American cars were either engined from other cars already in the inventory or built from existing’foreign’ owned industry. None gave the required MPG that any foreign made car gave…but Detroit learns quickly. (WWII)
By 1979, the USA was awash with automobiles made here that gave better than 20 MPG. By then, all of the huge behemoths built by Detroit had downsized by about 500 to 900 lbs and had smaller engines. However, history does not stay put. New generations of peopel, even my generation forgot about the oil problems. Suddenly, by 1990, the word SUV was coined an fuel stayed at it’s same price. Engines, autos got bigger and bigger. No longer was the small car the ‘rage’, auto companies now leased vehicles and credit was available for those who normally could not afford it. The big Suburban and Escalade were not needed by the masses, but wanted! Detroit still built smaller cars with good economy…but no one was buying them! In capitalism, they only build what the buyers dictate. Suddenly, people also got in over their heads with mortgages that expanded exponentially after the first year. The masses are not the most intelligent, especially when you would like to be better, or look better, than your neighbor.
Whether it be speculation in the market, India and China increasing their demands or some other reason, oil fell in price in August ’08…and the market for housing stalled. Those mortgages notes were comming to a head. Enter the fact that the population could no longer afford the SUV and the big house, but business could no longer afford its workforce. With oil at todays price of about $40 a barrel, the gas pump price fell accordingly, the SUV can still be filled..if you have a job and a home!
Don’t knock Detroit just yet, they have endured the first depression, two World Wars, and various other demands that they did not act upon in history. They may have to downsize on models or even name plates in industry…but it’s not over!

Comments on: The big three back on track?

By: Darian T.

By: Michael Kowalski