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A comment on US annual inflation declines to 7.7% in October vs. 7.9% expected. Parent comment

Re:US annual inflation declines to 7.7% in October vs. 7.9% ... by bryanlarsen on Thursday November 10, 2022 @10:51AM (#33548219)
I expect the number of car sales in the US to go down significantly like it has in Europe. Interest rates are one major factor, but another is the electric transition. Anecdotally I know quite a few people that aren't buying new vehicles right now. They're the kind of people that buy a new car every 10 years or so, and are delaying their purchase or buying used. They realize it's a bad idea to buy a new gas car but aren't yet ready to buy an electric car because they don't understand them yet, they're too expensive, have a massive backlog, or don't come in the style/variant they want.
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Re:US annual inflation declines to 7.7% in October vs. 7.9% ... by massysett on Thursday November 10, 2022 @12:42PM (#33550225)
Why is it a bad idea to buy a new gas car? ExxonMobil is not going to stop pumping oil out of the ground.
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Re:US annual inflation declines to 7.7% in October vs. 7.9% ... by bryanlarsen on Thursday November 10, 2022 @01:05PM (#33550587)
My reasons: in 10 years time most local gas stations will be closed, 95% of the demand for used cars will be for electrics and 97% of the supply will be gasoline so the car will only have its scrap metal value.

But most people aren't thinking that far ahead. They just know I can recharge my car for $10 but it costs them $100 to refill theirs. They know that electricity prices are a lot more stable than gas prices.

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Re:US annual inflation declines to 7.7% in October vs. 7.9% ... by hotdogrelish on Thursday November 10, 2022 @02:13PM (#33551533)
I agree with your general sentiment, but I think this timeline doesn't necessarily extrapolate well for the United States. The average age of a vehicle on the road in the US is about 12 years - aftermarket suppliers as well as oil/gas companies have a very strong incentive to plan that far ahead in order to keep up with the demand. Especially given that the quantity of gas vehicles on the road will be, as you say, such a large percentage of the market.
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Re:US annual inflation declines to 7.7% in October vs. 7.9% ... by bryanlarsen on Thursday November 10, 2022 @03:46PM (#33553069)
Miles/year of old cars is a lot less than new cars. So demand for gas in 10 years might be about half of what it is now. Some stations will still do well, but a lot of marginal stations will disappear.
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Re:US annual inflation declines to 7.7% in October vs. 7.9% ... by navalsaini on Tuesday November 15, 2022 @09:14PM (#33617976)
Fuel can also be delivered at ones home or people can install their own fuel tanks that can last a few refills. Just a thought.
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Re:US annual inflation declines to 7.7% in October vs. 7.9% ... by colinmhayes on Thursday November 10, 2022 @01:06PM (#33550599)
Gas exploration is way down. No gas production won't stop, but supply growth seems to be completely stalled while demand is not due to developing countries continuing to get richer. Gas will likely continue to be expensive as we transition away from fossil fuels.
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Re:US annual inflation declines to 7.7% in October vs. 7.9% ... by twobitshifter on Thursday November 10, 2022 @12:55PM (#33550433)
Gas prices ice bans and global warming. If you buy a gas car today, I wouldn’t expect much in terms of resale value.
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