Chip shortage: Toyota to cut global production by 40%

Re:Chip shortage: Toyota to cut global production by 40% by mikeyouse on Thursday August 19, 2021 @09:32AM (#28233604)

Obviously most people can’t do this but a family member was recently approached by the dealer who sold him his most recent work truck. He’s driven like 30k miles on it in the past 2 years and it was a $75k Chevy diesel. Dealer offered him $90k to buy it back from him (to sell to someone else) and my family member said “Sure”. So he made $15k on an asset that should have lost 1/2 its value by now. Obviously rare and hard to take advantage of but some people are absolutely capitalizing on the weirdness.

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Re:Chip shortage: Toyota to cut global production by 40% by wonderwonder on Thursday August 19, 2021 @09:43AM (#28233723)

I assume that in most situations like this the original person with the truck would have to replace that truck. In this case he now has to pay 90k for the truck he originally paid 75k for.

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Re:Chip shortage: Toyota to cut global production by 40% by mikeyouse on Thursday August 19, 2021 @10:00AM (#28233912)

Perhaps, but it's not uncommon for these places buying new-off-the-lot high end trucks (my family members' included) to have a dozen+ vehicles at their disposal. He's planning on using his 5-year old similar HD truck until the market thaws a bit, but it's also overkill for most everything he does. One of the many work vans his business owns can likely do 95% of the work. They're mostly just buying the big ones for clout and due to generous tax writeoffs.

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Re:Chip shortage: Toyota to cut global production by 40% by dahfizz on Thursday August 19, 2021 @09:45AM (#28233752)

Or hobble along with a "free" $15k clunker until prices go back down.

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Re:Chip shortage: Toyota to cut global production by 40% by alistairSH on Thursday August 19, 2021 @10:11AM (#28234041)

But what does he drive now? If the truck was just a toy that didn't need replaced, then good for him. But that's not the case for the majority of people.

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Re:Chip shortage: Toyota to cut global production by 40% by bluGill on Thursday August 19, 2021 @12:08PM (#28235614)

There are lot of construction workers driving around 20 year old trucks. Those who own a company and don't use the truck as a limo to show off to customers value the extra money in their pocket. The more the truck is abused, the older it will be (concrete and rocks are abusive to the body of trucks so those industries get the oldest ones)

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