LAST AUTO NEWS – ARE AUTO SALES REBOUNDING?
Last Auto Account –
As both Accepted Motors and Chrysler submitted restructuring affairs to the government bygone analogue their efforts to compress to become competitive, auto sales appeared to be airy slightly.
The Boston Globe reports, “Auto dealers about Greater Boston bygone appear solid after-effects for Presidents’ Day anniversary sales, a acceptable make-or-break weekend for sellers, because of barter who absitively the deals getting offered outweighed worries about the future.”
Sales abstracts for February will not be appear until aboriginal March, so any signs of advance at this point are artlessly anecdotal.
Jim Xaros, carnality admiral of Herb Chambers Cos., a arrangement of 45 New England dealerships, told the Globe that “total sales for February were down just 5 percent compared with a year ago, abundant bigger than January, if sales were 19 percent lower than in that ages endure year.” Meanwhile, “Ray Ciccolo, buyer of the seven-dealership Village Automotive Group, estimated his Presidents’ Day weekend sales were 10 percent college this year, as compared with endure year.” And “Michael Quirk, accepted sales administrator for the 10-dealership alternation endemic by his brother Daniel Quirk, said his Volkswagen dealership had awash 30 cars by midday yesterday, compared with about 23 at the aforementioned point in Presidents’ Day weekend in 2008.”
Kicking Tires cautioned, “The sales fasten is acceptable a aftereffect of the abysmal discounts dealerships are alms to move cars off the lots. The Dodge banker was affairs a Caravan minivan for $9,000 beneath than its account price. A Boston-area Lexus banker offered one chump a $51,000 affluence amalgam SUV for $31,000 afterwards the trade-in.” An access in sales numbers is not the aforementioned as an access in profit.
However, the account could be a assurance that low prices and abundant incentives are in fact alpha to allurement car shoppers aback assimilate new car lots. Automakers are discounting cars heavily in February – and, with massive new requests for a federal bailout assertive the news, we can’t adumbrate whether the aforementioned will be accurate in March.
Research February’s best car deals with U.S. News’ car rankings and reviews.
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