TAMPA, Nov 27 – On Monday the Wall Street Journal reported an increasing number economic forecasters that predict car sales to fall to their lowest numbers in a decade.
These include analysts from top investment banks including Citigroup, Bank of America and Wachovia.
In addition to large investment banks, investor Wilbur Ross, who has spent billions investing in auto supplies, agrees that sales are becoming lackluster at best and downright disappointing at worst.
Large purchases and their decline are one of the first indicators of a slowing economy. When people are less optimistic about their future income, they refrain from major purchases such as an automobile. In addition to the slowing economy, the current housing slump is preventing many people from taking out easy loans with relatively low interest rates.
Our car price advisors predict very low prices for cars by years’ end. Your best bet may be the last week before Christmas – look to the larger automakers to release deals in a big way – Ford, Chevrolet, Pontiac, Chrysler, and Jeep.