Peak Autos: America's Love Affair with the Car May Be Coming to an End

…That is certainly an interesting report and there is a lot more in it that I did not cover. I am particularly interested in the stats on teenage driving and a subject the article did not cover at all, Boomer Demographics.

In regards to teens, parents can no longer afford to buy cars for their kids. And with teenage unemployment at the highest rate in history, kids cannot afford to buy their own cars. That is the dynamic at play, not socializing by text messaging.

What’s more important, and something the article did not even address is the massive wave of boomer retirement that is about to hit. Many boomers will go from two cars to one. Or from two new cars to one new car and an “emergency” clunker.

Eventually, upon entering retirement homes, the cars will go altogether.

Let’s also not forget about the effect of peak oil.

Mish’s Global Economic Trend Analysis