Return to Transcripts main page
American Morning
Minding Your Business: Great American Car Buying Binge May be Over
Aired December 24, 2002 - 07:45 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
BILL HEMMER, CNN ANCHOR: I want to check in with Andy Serwer right now. It's going to be a (UNINTELLIGIBLE) day of trading for stocks here in New York City.
Good morning to you. Happy holidays.
ANDY SERWER, "FORTUNE" MAGAZINE: Good morning to you, Bill.
HEMMER: Are they going to open that thing for about 30 minutes today?
SERWER: No.
(CROSSTALK)
HEMMER: ... go home.
SERWER: You know, they have to open it up. They are just going to be open for a few hours, and people are going to be heading out, particularly with this storm headed this way, not anyone going to be around by early afternoon.
Let's talk about yesterday, though, kind of a mixed bag for stocks, not to be confused with a Santa's bag; 18 down on the Dow, 18 up on the Nasdaq. "I'm 18 and I Like it," remember that tune?
Retailers dragged down the Dow yesterday, Wal-Mart and Gap hurting them a little bit.
HEMMER: Because I'm 18...
SERWER: Eighteen and I like it, we're not even going to do it.
HEMMER: Great deals on cars. What are we looking at right now?
SERWER: Yes, let's talk a little bit about cars. First, a little Christmas snowed on cars. You know, those giant ribbons they tie around cars, the bows?
HEMMER: Jaguar has got a commercial out...
(CROSSTALK)
SERWER: Yes, there's a shortage of them. Apparently, people are buying these things up, ordering them, and Jaguar doesn't have enough. A couple of other car companies are running out of them as well. But we want to talk about some great deals...
HEMMER: OK.
SERWER: ... coming out of Detroit, because some of your best after-Christmas sales may be at your car lot. What's happening here, Bill, is the great American car buying binge may be over.
Here are some of the deals we're talking about. The Chevy Avalanche, sticker is 34K, your rebate is 3,000 on a three-year financing deal. That replaces a $2,000 rebate. You guys who are doing the math this morning, wouldn't that be 1,000 more?
HEMMER: Yes, I would say.
SERWER: I think that's 1,000 more. OK, there we go, there's the Saab 9-3...
(CROSSTALK)
HEMMER: ... California, though.
SERWER: Yes -- no, I'm not doing that. I don't do times, you know, like Paula. Twenty-six plus...
PAULA ZAHN, CNN ANCHOR: Hey, I have those mastered.
SERWER: Yes, OK, well, we had a little practice though?
ZAHN: Yes, a three hour time difference (UNINTELLIGIBLE).
SERWER: Yes, there you go. Also deals on the Toyota Matrix and Lexus as well.
But we want to talk about a big car that may be making a big-time come back, the ultimate muscle car, the Dodge Charger. This thing was big in the late '60s, early '70s. I think they discontinued this in '74. They are now talking about rolling it out. There is the concept on the right-hand of the screen, and of course, it will have a 5.7 liter, 345 horsepower cami (ph) V.8 engine.
So, Bill...
HEMMER: Yes.
SERWER: ... that might be right up your alley.
HEMMER: You think so, huh?
SERWER: Gasoline alley, a heavy V.8...
HEMMER: Right down the streets of Manhattan with that thing.
SERWER: Yes, that would be great.
ZAHN: You guys obviously never owned a Dodson B210 (ph) hatchback.
SERWER: No, I didn't. Was that a Zahn mobile?
ZAHN: My first car, that was...
SERWER: That was a Zahn mobile?
ZAHN: Yes, I bought it for about 350 bucks.
SERWER: I'd like to see that.
ZAHN: And it kept on falling apart, and it ended up being a very (UNINTELLIGIBLE) car.
SERWER: Yes, fix them up.
HEMMER: I had a 1972 Grand Torino, and the rust came through about six months after we bought it.
SERWER: I had a Delta 88 convertible that was pretty hot (ph) when driving around Atlanta when I was...
(CROSSTALK)
ZAHN: Boy, are we old. We are old people.
SERWER: We are.
HEMMER: Thank you, Andy.
SERWER: OK, we'll catch up with you.
HEMMER: See you later.
ZAHN: Happy holidays.
SERWER: You too.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
be Over>
Aired December 24, 2002 - 07:45 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
BILL HEMMER, CNN ANCHOR: I want to check in with Andy Serwer right now. It's going to be a (UNINTELLIGIBLE) day of trading for stocks here in New York City.
Good morning to you. Happy holidays.
ANDY SERWER, "FORTUNE" MAGAZINE: Good morning to you, Bill.
HEMMER: Are they going to open that thing for about 30 minutes today?
SERWER: No.
(CROSSTALK)
HEMMER: ... go home.
SERWER: You know, they have to open it up. They are just going to be open for a few hours, and people are going to be heading out, particularly with this storm headed this way, not anyone going to be around by early afternoon.
Let's talk about yesterday, though, kind of a mixed bag for stocks, not to be confused with a Santa's bag; 18 down on the Dow, 18 up on the Nasdaq. "I'm 18 and I Like it," remember that tune?
Retailers dragged down the Dow yesterday, Wal-Mart and Gap hurting them a little bit.
HEMMER: Because I'm 18...
SERWER: Eighteen and I like it, we're not even going to do it.
HEMMER: Great deals on cars. What are we looking at right now?
SERWER: Yes, let's talk a little bit about cars. First, a little Christmas snowed on cars. You know, those giant ribbons they tie around cars, the bows?
HEMMER: Jaguar has got a commercial out...
(CROSSTALK)
SERWER: Yes, there's a shortage of them. Apparently, people are buying these things up, ordering them, and Jaguar doesn't have enough. A couple of other car companies are running out of them as well. But we want to talk about some great deals...
HEMMER: OK.
SERWER: ... coming out of Detroit, because some of your best after-Christmas sales may be at your car lot. What's happening here, Bill, is the great American car buying binge may be over.
Here are some of the deals we're talking about. The Chevy Avalanche, sticker is 34K, your rebate is 3,000 on a three-year financing deal. That replaces a $2,000 rebate. You guys who are doing the math this morning, wouldn't that be 1,000 more?
HEMMER: Yes, I would say.
SERWER: I think that's 1,000 more. OK, there we go, there's the Saab 9-3...
(CROSSTALK)
HEMMER: ... California, though.
SERWER: Yes -- no, I'm not doing that. I don't do times, you know, like Paula. Twenty-six plus...
PAULA ZAHN, CNN ANCHOR: Hey, I have those mastered.
SERWER: Yes, OK, well, we had a little practice though?
ZAHN: Yes, a three hour time difference (UNINTELLIGIBLE).
SERWER: Yes, there you go. Also deals on the Toyota Matrix and Lexus as well.
But we want to talk about a big car that may be making a big-time come back, the ultimate muscle car, the Dodge Charger. This thing was big in the late '60s, early '70s. I think they discontinued this in '74. They are now talking about rolling it out. There is the concept on the right-hand of the screen, and of course, it will have a 5.7 liter, 345 horsepower cami (ph) V.8 engine.
So, Bill...
HEMMER: Yes.
SERWER: ... that might be right up your alley.
HEMMER: You think so, huh?
SERWER: Gasoline alley, a heavy V.8...
HEMMER: Right down the streets of Manhattan with that thing.
SERWER: Yes, that would be great.
ZAHN: You guys obviously never owned a Dodson B210 (ph) hatchback.
SERWER: No, I didn't. Was that a Zahn mobile?
ZAHN: My first car, that was...
SERWER: That was a Zahn mobile?
ZAHN: Yes, I bought it for about 350 bucks.
SERWER: I'd like to see that.
ZAHN: And it kept on falling apart, and it ended up being a very (UNINTELLIGIBLE) car.
SERWER: Yes, fix them up.
HEMMER: I had a 1972 Grand Torino, and the rust came through about six months after we bought it.
SERWER: I had a Delta 88 convertible that was pretty hot (ph) when driving around Atlanta when I was...
(CROSSTALK)
ZAHN: Boy, are we old. We are old people.
SERWER: We are.
HEMMER: Thank you, Andy.
SERWER: OK, we'll catch up with you.
HEMMER: See you later.
ZAHN: Happy holidays.
SERWER: You too.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
be Over>
