My first post, Thanks for coming by. I will strive to keep this blog simple.
New car sales in September came at 11.7 as expected. Sales numbers are creeping up but are way under estimates provided by analysts and automotive bailout projections for repayment terms.
Credit score destruction, lack of jobs, debt to income levels and cars seeming to last much longer today gives me this impression. Lack of higher end demand coupled with 28% sub-prime market having few avenues to credit will keep numbers on the low end of expectations. Similar to Dow 10K.
Unless they open the subprime spigot..recent news says so...Cheers
