Summary Box: Economy could scare off car buyers

AP News
|
Posted: Aug 18, 2011 6:27 AM
Summary Box: Economy could scare off car buyers

THE WORRY: U.S. car dealers are afraid that gyrations in the stock market and its 10 percent drop in value since July 22 will scare buyers away from their showrooms. Some are seeing slower sales in early August as buyers fret about bad economic news.

THE IMPACT: Auto sales have been a bright spot in the U.S. economy for most of the year, generating sorely needed jobs. They were strong through April but eased during the summer because of model shortages from the March earthquake in Japan.

WHAT'S NEXT: Automakers report August sales numbers on Sept. 1.