Resale Value and Future Trends

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Cee details ofidity dot com slash commissions Fidelity broervices LLC member NYSCS IPC Like a lot of men his age, my dad likes to talk about how everything used to be better shhoes used to last longer Musicians used to be more talented Movies used to cost a couple bucks And cars They just had a lot more character My first car was a nineteen sixty five Chevy and power And this was a real car It was a real car. I bought from a neighbor It had twenty five thousand miles on it and I paid four hundred dollars for it I mean, the personality that it had. Every detail about it, the headlights, the tail lights, the fender, the bumper. ors you could punch the sixty five Chevy and you'd break your hand. As Tom Crockett tells it Part of that character was the multitude of colors that you'd see on the road back in the nineteen sixties and seventies In the old days, we had variations of green and variations of brown, tan colors There were light blues, lots of different shades of blues Gy had like a canary yellow Drive it with a top down These days, he says, It seems like all the cars on the road look the same Black, white, silver, black, white, silver, black, white There is some truth to that Today's cars are a lot less colorful than they used to be. eightighty percent of vehicles sold in North America are now achromatic White, black, gray or silver That's up from thirty six percent fifty years ago If you're like my dad, you might say that the automobile industry has lost its flare. But according to car color designers There are actually more color options than ever before It's just that those so called boring tones are what today's young buyers actually want We know that boomers and GenX are definitely looking for some of those pops of color, so they're more interested in like the tangerine orange. And weve found that millennials are gravitating to gray. We all know about millennial gray, and that's kind of how it's showing up for our cars Forree Economics Radio Netork. This is the economics of everyday things. I'm Zachary Kracket Today Par colors For the earliest mass produced cars, Paint was more of a practicality than a form of expression Throughout most of the nineteen twenties Henry Ford's famous model T only came in one color Ford was rumored to have said that a customer may have a car in any color he desires, so long as it is black For its affinity for the color was rooted in economics was cheap and durable. And using only one color sped up production. As cars became more common, Consumers wanted theirs to stand out Automakers responded with different color options In the nineteen thirties, the first metallic finishes hit the market. They were made out of fish scales, and it took twenty thousand herring to make a pound of paint In the nineteen fifties, you could find cars in pink and turquoise The sixties and seventies were populated with yellow and green muscle cars And by the nineteen eighties, vehicles came in just about any color you could dream up The eighties was a very colourful decade And the years before. So there was a lot of green cars, red cars, blue cars That's Mark Gutiar He's the global head of desesign at BASF, one of the largest car paint manufacturers in the world and acromatics, the colors that are black, grreay and white and silver. They were not so dominant actually. Guchar says that around the beginning of the millennium Hark colors became a lot less colorful Silver quickly became the color of choice largely thanks to emerging technologies You know, mobile phones were silver, your stereo was silver with a lot of buttons and things to turn like very technical devices And then this famous American company came in and invented a tool and the product was white That famous company was Apple And the device, of course, was the iPod It came out in two thousand one around the same time the company opened its first retail locations. White was the transport in color of being advanced high tech thinking over in rapid speed And it's still number one globally Today thirty four percent of all cars in North America are white After that comes black with twenty two percent, silver with fourteen percent, and gray with ten percent No other color tracks double digits are practical reasons to buy a white car Lighter colors reflect more sunlight, which reduces the need for AC increasing fuel economy and decreasing carbon dioxide emissions But the main reason people buy ac chromatic cars is that they're just sort of inoffensive didid some research on, you know new car buyers, like what they were looking for and what people like personally as a color actually has nothing to do what they buy. There are a few possible explanations for this For starters, cars are often shared within a family And acchromatic colors make good compromise picks Dealerships also tend to stock more white black and gray cars. Because they're easier to sell than a niche choice like turquoise. customer comes in looking for a color that's not in stock A salesperson can often convince them to buy the gray model on the floor instead Greay colors please a lot of people. That's why they're so successful We have around one hundred and twenty different shades of grey So fififty shades is not enough Whether you have a gray car or a pink car, it's likely that BASF was involved in the color More than fifty percent of all cars produced globally each year have at least one layer of BASF paint We work with nearly everybody in the industry to develop colourors every year I think it's roughly nine hundred colors that are currently running. in the market. Every major car manufacturer also has its own in house design team And when a brand wants to develop a new color The conversation usually starts with someone like Nikki Rideell I'm a car line planning mananager at Subaru of America. Rideell's job is to help oversee all of the little design choices that go into creating a new Subaru model from the color of the stitching on the seats to the color of the exterior paint The first thing Subaru's team does is look at what's popular in the spaces where their customers are interacting We're really lucky at Subaru because we know our customer really well Definitely people who want to take the path less followed. They're always looking for their next adventure So we're looking at snowboards. We're looking at skis, we're looking at skate decks. We're looking at All of the clothing, like ski jackets and that sort of thing. A few years ago They noticed a trend. we started seeing everything kind of shifting toward Cooler tones And so we developed a cool gray khaki past couple of years, you've probably noticed cars in this color It's a light gray with a bluish tone And it's got kind of a ceramic look to it, No sparkle Cool gray Khaki is Subaru's invention But many manufacturers, from BMW to Honda, have introduced very similar shades A Greay Khaki is a cooler muted tone. It has a very flat finish so it doesn't have a lot of metallic or pearl in it, which also suggests a rugged aesthetic and a more modern younger look When we all saw it, we just kind of knew it was a hit Before a color like Cool Greay Khaki is finalized, it's tested in a light studio that simulates different settings Light is really important, especially when you're talking about a vehicle. The sunlight that you see from a temperature standpoint in Southern California is going to be very different from Maine The other consideration is that these cars will be seen in showrooms. So one of the settings that we have that we check are what our retailers are using for overhead lighting in the showroom Make sure that that also looks as, you know, as good as we want it to They also have to make sure the paint formula can hold up in different environments Many car manufacturers send painted car parts to weathering facilities in Florida, where they're put out in the sun sometimes for years to see how the paint is affected. The state has high intensity sunlight, lots of rain and high humidity which makes it an ideal place to test for cracking, peeling, and moisture sensitivity Once a color has passed all the tests, manufacturers work with paint suppliers like BASF to produce the color at scale get from us is like a mixed material all the ingredients that are in Even a seemingly plain color, like white or gray, is a lot more dimensional than it seems When a car is painted at a factory, the process begins with something called an ecoe Car parts are often dipped in a bath of zinc phosphate, and an electrical current binds a layer of resin to the surface Harts spend time in an oven And then robots, spray them with primer and a basecoat that includes all kinds of effects So you have these glitter sparkles that you could put in like you know very different textures, very soft, silky textures you can generate. The final step is typically a clear coat that gives an extra glossiness to the finish but also protects the paint from UV lights and burb poops. All the layers together, they make a thickness of a hair extremely thin and it's extremely technical From conception to production, bringing a new color like cool grreay Khaki to the market can take up to six years. So in twenty twenty four, Subaru's team might be working on the new colors for the twenty thirty lineup Even after all that work Ridel says that there are still slight variations in the final product of any given color Every time you formulate the color, it's not going to be a hundred percent exact They're virtually imperceivable. but if you put, you one body panel next to another, there's a chance that you could see the difference. So the way that they're spraying Our white in Japan could look slightly different from what we're spraying in the U.S factory So will every hit color be another variant of gray Probably not. Some industry experts are predicting a more vibrant future. That's coming up. Hey Fidelity. What's it cost to invest with the Fidelity app? Start with as little as one dollar, with no account fees or trade commissions on US stocks and ETFs That's music to my ears. I can only talk Inest inv risk,ing risk loss zero account fees apply to retail broer account only zer doll commission not apply to comers designated fidelities as a profession equity trad. a lited number of TTFs are subject to service fe of one hundred dollars. C details ofidelityot com slash commissions fidelity broervices LLC member NYSCS IPC The economics of everyday Th is sponsored by Mint Mobile Mint mobile plans are only fifteen dollars per month Wondering what's the catch There isn't one. There are no gimmicks and no gotches. Just unlimited talk text and data, fast reliable coverage on the nation's largest five G network, and an award winning care team. That makes MintMobile a catch. 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Additional taxes fees and restrictions apply, see Mint Mobile for details The economics of everyday things is sponsored by booking. com If you're looking to grow your vacation rental business, this is the place to be Booking. com is one of the most downloaded travel apps in the world, and for good reason Since twenty ten, they've helped over one point eight billion vacation rental guests find places to stay. But here's the thing Most vacation rental hosts don't even realize they can list their properties on booking. comot And if you're not on the platform, your rental is basically invisible to millions of booking. com travelers worldwide. After all They can't book what they can't see, right But once you start listing on booking dot com, your property gets seen by a massive global audience of unique travelers So If your vacation rental isn't listed on booking. com, it could be invisible to millions of travelers searching the platform Don't miss out on consistent bookings and global reach Head over to booking. com and start your listing today getet seen. Get booked on booking. com Subaru debuted Cool Greay Khaki in twenty eighteen and faced it out in twenty twenty three It accounted for around eighteen percent of the company's sales for the models that were available in the color If you go to Subaru forums, you'll find customers singing its praises. But the company doesn't just stick to Greay's. Nkki Rideell says Subaru fans are a little more open to bold colors than a typical car buyer. We're able to sell blues and greens and orange colors We're lucky because we have always been kind of that quirky fun So we kind of lean into that and make sure that we're offering really fun colors as much as we can Take, for instance, a color called Geyser Blue which debuted on some of Subaru's twenty twenty two models We took blue and mixed a little bit of green into it Green is not usually a great seller for cars, but Subar does it really well And then we took all of the metallic flake out. so that kind of psychologically signifies that it's more of a rugged off road color It's beating out black, white, gray, and that's pretty tough to do, yeah Cars are an expensive product And color has a big impact on sales. Car companies like Subaru have to make sure they produce the right amount of models in each color So we don't want to have too many colors in the lineup because then we're splitting the ratio of cars out and then Every retailer might not be able to get that color. We have to make sure that we've got Just enough so that our owners can kind of pick what they want and personalize their car, but not so many options that we can't get the car to the right place to the right customer Subaru keeps a close eye on data from dealerships They look at things like how quickly certain colors are selling If they see demand for particular shades slowing down, They adjust accordingly on the factory lines And dealerships tend to keep reliable colors like white, gray, and black on hand It's a lot easier to convince somebody to buy a white car than it is a bright orange car. Some colors tend to sell better in certain regions In the sun meelt areas of the southern part of the country is going to sell more white cars than they would black cars just because the heat So we would probably allocate maybe more white cars down there Ridel says there are also some generational differences in who buys certain car colors