Economy Putting Brakes On Car Sales
Unsold 2007 XL7 sports-utility vehicles sit outside a Suzuki dealership in the northwest Denver suburb of Wheat Ridge, Colo., on Sunday, May 6, 2007. the Commerce Department said Thursday, May 24, 2007 that orders to U.S. factories for big-ticket manufactured goods posted a moderate 0.6 percent increase in April, helped by a continued rebound in business investment. (AP Photo/David Zalubowski)
The car lot is a lonely place these days. Car sales for this month could be one of the lowest in more than a decade. September sales are expected to be down nearly 20 percent from 2007, according to trade site Edmunds.com.
"February 1993 was the last time that fewer than one million new vehicles were sold in a month", Jesse Toprak of Edmunds.com said. "We're coming remarkably close to that volume again."
Toprak says October is traditionally a slow month so auto dealers don't have a lot to look forward to.
Chrysler, Ford and GM are taking the biggest hit followed by Honda, Nissan and Toyota.