“People are waking up and realizing the world didn’t end and are starting to return to showrooms,” said Aaron Bragman, a forecaster at IHS Global Insight in Troy, Michigan. “It’s way too early to say the trend is pointing north, but if it continues this quarter, it’s a positive sign.”
This don't bet against the US consumer, or the realization that the world didn't end logic towards consumption trivializes the forces driving these trends. The well-timed cash for clunkers promotion provided a short-term boost by pulling from future consumption. Despite that, vehicle sales still posted a series of YOY declines. This series is destined to roll over again without restoration of sustainable job creation and easy credit.
Auto Sales (AS) and YOY Change:
Source: bloomberg.com
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