Continuing my series of Nothing's Working, have you noticed that the problems at Volkswagen (VLKAY) are spilling over to hurt all automakers? While there is some concern that tests may have overstated the emissions of BMW's engines, the simple truth is what's bad for the goose is good for the gander -- in this case every other automobile company in the world.
Let's face it, there is simply no way that VW isn't in total disarray and there is no way that its sales can hold up at all.
But is that going to stop people from buying cars, or is it going to stop people from buying Volkswagens and instead choose other cars, especially if the opportunity to buy Volkswagens is taken away by government action?
How can this, for example, really hurt Ford (F) or Fiat (FCAU, FCAM)? Now, the auto companies are all challenged because they are global and they have Latin American and Chinese businesses that are just terrible right now.
Still, though, this is just one more example of how this market's become totally untrustworthy. The auto analysts who cover the other publicly traded autos should be jumping up and down with new forecasts about sales for the competitors.
Instead they are silent.
It speaks loudly about this awful market that only seems to bounce when it gets so oversold -- and it isn't now -- that the sellers are temporarily exhausted and are willing to hold out for better prices, ones that might be higher than where we are already but I am betting are still lower before they get there.