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Credit crunch may hurt auto sales

DETROIT — August car sales could be down 10% compared with a year ago as the mortgage credit crunch makes homeowners feel less secure and unwilling to sign on for another large monthly payment, according to Edmunds.com and reported by USA Today.
Edmunds.com estimates that sales will be down about 10% compared with last August, even as the automakers continue to pile on incentives to lure customers. Auto sales are particularly weak in regions such as Florida, Nevada and California, where the housing market also is being hard-hit.

Posted by Peter C. T. Elsworth  at 11:30 AM to Sales | Permalink

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