Aug 28, 2009 -
Foul Weather Ahead?
Gee, even Dub Schwartz saw this one coming.
DOW JONES NEWSWIRES
New-vehicle sales are expected to increase 18% in August from July in the U.S. on the popular "Cash for Clunkers" government program, but still remain down 6% from a year earlier, according to Edmunds.com.
But the car-shopping Web site said sales are tumbling as the month comes to an end, with senior analyst Jessica Caldwell saying that "does not bode well for September." In addition, inventories are near historic lows as the annual sales rate for cars fell slightly below 10 million the first half of the year, prompting widespread production cuts and stoppages.
Robbing Peter to pay Paul, as the saying goes.
