Automotive sales in the U.S. might not recover quite as quickly as expected, some analysts warn, and note that August sales will probably be lower than those in July.
Industry speculation has gone back and forth on whether the automotive industry will soon see stronger sales.
Speaking to The Detroit News, an economist with the National Automobile Dealers Association said that a still-weak housing market may be keeping automotive sales from recovering.
"We need [the housing market] to be solidly flat or up," the NADA's Paul Taylor said. "That's not happening."
Another indicator is the value of capital goods orders, which has been decreasing. Earlier this month, Motor Trend's Todd Lassa posed the question of whether new car prices were simply getting too high.
Whatever the reason, we don't anticipate skyrocketing sales for the month of August.
Source: Detroit News