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Gas prices, housing market expected to sting auto sales

High gas prices and the slow housing market are expected to result in soft May auto sales, with even venerable Toyota perhaps taking a hit, according to a report in USA Today, citing Edmunds.com
Consumer website Edmunds.com predicts sales reported today will be down 4.2% compared with last year, with blame for the decline resting squarely on energy costs and housing woes. Still, sales are expected to be better than in April, when automakers posted an overall 7.6% decline compared with April 2006.

Edmunds predicts that even Toyota, which has tended to shake off slumping sales when gas prices soar thanks to its fuel efficient models, will see a drop in sales. Only Chrysler is expected to post an increase — and a modest one, at that.

Posted by   at 9:28 AM to Analysis | Permalink

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