US Auto sales took a sharp downward turn in September in the face of an ongoing credit crisis and the continued increase in fuel prices. Industry-wide sales plunged below the 1 million mark for the first time in more than 15 years. Overall industry sales were at 964,873 vehicles, the lowest level seen since February 1993. The 27% drop was sharper than expected and is a clear sign that tighter credit and falling consumer confidence is hurting consumer spending.
Posts Tagged ‘Credit Crisis’
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Posted by Rowan Pierce in Auto News |
Tags: Auto sales, Credit Crisis, September 2008