Auto Sales Stagger In August

0 Shares

Auto sales stagger in August A year after the government’s massive spending program, Cash for Clunkers, United States automakers are reporting disappointing sales figures, suggesting that the long term effects of the initiative may be less stimulating than intended.

New vehicle sales for August fell 21 percent compared to last year when Cash for Clunkers was still rolling, according to CNN. The numbers are down 5 percent from July. In total, U.S. automakers sold fewer than 1 million vehicles for the month.

Some commentators have blamed the sluggish economy and slower than expected recovery for consumers’ reluctance to make major purchases.

"Car buying is far from repaired, and consumers hesitate before they make a big ticket purchase," Jesse Toprak, an analyst with the auto pricing site Truecar.com, told the news source. "It shows that the recovery is going to be much slower and more painful than expected."

Auto sales typically pick up in August, as manufacturers offer significant savings on their current inventory in anticipation of the new model year, which begins in the fall. However, sales figures for this past August were the lowest monthly figures in 28 years, according to Bloomberg News.
ADNFCR-1961-ID-19935872-ADNFCR

Special To Personal Liberty

You Sound Off! is written by our readers and appears the last Wednesday of each month. If you would like to submit an article or letter to the editor for consideration for You Sound Off!, send it to yousoundoff@personalliberty.com by the Friday before the last Wednesday of the month. To be considered, a submission should be 750 words or less and must include the writer's name, address and a telephone number. Only the writer's name will be published. Anonymous submissions will not be considered.

Join the Discussion

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.