Sunday, September 20, 2009

September Auto Sales Will Show Stimulus Doesn't Work

Via Zero Hedge:

September’s light-vehicle sales rate will fall to 8.8 million units, consumer auto site said. That would be the lowest rate in nearly 28 years, tying the worst demand on record.

After the cash-for-clunkers program boosted August sales to their first year-over-year increase since October 2007, demand has plunged. In at least the last 33 years, the U.S. seasonally adjusted annual rate has only dropped as low as 8.8 million units once -- in December 1981 -- with records stretching back to January 1976.


eh said...

"better than expected"

CP said...

yeah, that is what they'll say, won't they?

sold to them.