Bad theory. People buying new cars do not expect them to last a decade. People who buy new cars in this era are consumers who treat them as fast fashion. They get traded in every few years with an ever-increasing markup.
> Most new car buyers are inherently irrational
Don't try to rationalize irrational behavior with magical long term thinking. Irrational people as a rule do not plan a decade in advance.
> Most new car buyers are inherently irrational
Don't try to rationalize irrational behavior with magical long term thinking. Irrational people as a rule do not plan a decade in advance.