quote: There's only ~15M cars sold per year in the US among 115M households. The vast majority of households paying less tax than that will be buying used cars.
quote: But after seeing how many poor people are willing to fork over the money for a new iPad, I don't try to predict what people will or won't buy anymore.
quote: That stat would only be relevant if people only kept a new car for a year. If the average duration of ownership for a new car is 5 years, then 15M/year in new car sales represents 75M households, or the majority.