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Don't expect big sales increases when automakers release figures next week, not just because of the Cash for Clunkers boom last August, but due to a slowed pace from July.
Industry speculation on whether the automotive industry will soon see stronger sales has gone back and forth.
Speaking to The Detroit News, an economist with the National Automobile Dealers Association said that a still-weak housing market may be keeping automotive sales from recovering.
"We need to be solidly flat or up," the NADA's Paul Taylor said. "That's not happening."
Another indicator is the value of capital goods orders, which has been decreasing. Earlier this month, our own Todd Lassa posed the question of whether new car prices were simply getting too high.
Whatever the reason, we don't anticipate skyrocketing sales for the month of August.
Source: Detroit News
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