Rising concern about home values and mortgage payments is causing more buyers to slam the brakes on new car purchases.
Already-battered U.S. auto sales could be the next victim of the problems with
mortgages, declining home and stock prices as potential car buyers delay
purchases due to uncertainty.
Industrywide U.S. auto sales in August could be off 10 percent from a year
ago, according to an early read from sales tracker Edmunds.com. That follows
July sales that were 19 percent below year-earlier levels.
Source: CNN Money.com