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Plenty Of Better Things On Which To Spend Your Money
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This article blames oversupply for the huge drop in prices for used ultra-luxury cars, including Rolls-Royce, Lamborghini, and Aston Martin. We're talking 54%, 56% decreases. I'm wondering, however, if the widely noted aversion of younger potential car buyers towards cars in general and really expensive cars in particular might be part of it. Kids aren't growing up yearning to drive cars at all, and as they age, Millennials aren't quite as into status cars as they used to be. They'd rather drive either a small electric car like the Volt or an SUV. Do you think the plummeting value of the really (and still) expensive cars is just from oversupply or a canary in the coal mine for auto makers? (USA Today)
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