California New Car & Truck Sales Plunged 21.7% in 2020, Far Worse than US Total. Even Tesla Sales Fell. Nissan’s Collapsed. But EV Market Share Rose to 6.2% by Wolf Richter • Feb 12, 2021 • 142 Comments Even the huge used-vehicle market got knocked down, except for older, cheaper used vehicles.
Owner of Westfield, Buckling under $32 Billion in Debt, Plans to Dump its US Malls After Huge Losses by Nick Corbishley • Feb 12, 2021 • 95 Comments “A management team that remains prisoner of its failed strategy that started with the acquisition of Westfield.”
Demand for Gasoline, Jet Fuel, and Diesel: Checking on the Recovery by Wolf Richter • Feb 11, 2021 • 139 Comments Watching for the EV drag on gasoline demand requires a lot of patience.
Tesla, GM, Ford Together in Ludicrous-Mode WTF Charts by Wolf Richter • Feb 10, 2021 • 218 Comments Global revenues, deliveries, market share, income, and for your amusement the WTF stock prices.
Dollar’s Purchasing Power Drops to Record Low, Despite Aggressive “Hedonic Quality Adjustments” by Wolf Richter • Feb 10, 2021 • 152 Comments Spiking prices for new and used vehicles under the microscope.
Salesforce, San Francisco’s Largest Employer, Switches to Hybrid “Work from Anywhere,” Won’t Need All that Space in Salesforce Tower. Uber, Old Navy, Yelp, Oracle, Dropbox… Dump Office Space by Wolf Richter • Feb 9, 2021 • 187 Comments This is just so relentless: “We’re not going back to the way things were.”
When the Eviction Bans End, How Many MORE Renters Face Eviction than in Good Times? How Much Worse is it Now? by Wolf Richter • Feb 9, 2021 • 221 Comments Actual rent collection data from over 11 million apartments and 80,000 single-family rental houses, compared to a year ago.
One Year After the Collapse of the Airline Business Began: What’s the Status Now? by Wolf Richter • Feb 8, 2021 • 126 Comments Still collapsed revenues, astronomical losses, red-hot cash-burn, hellish new piles of debt. Meanwhile, amid craziest markets ever, airline shares soared.
US Trade Deficit in 2020 Worst since 2008, Goods Deficit Worst Ever Despite First Ever Petroleum Surplus. Services Surplus Drops Again by Wolf Richter • Feb 8, 2021 • 174 Comments But the Trade Fiasco with China was the least terrible since 2013.
The State of American Debt Slaves: Q4 2020. Consumer Borrowing in Weirdest Economy Ever by Wolf Richter • Feb 6, 2021 • 234 Comments Amid enormous shifts and distortions and trillions of dollars handed out by the government and the Fed.
