Auto Sales Show Slight Upturn as Buyers, Lured by Incentives, Return to Showrooms
Buyers returned to new-car showrooms over the
weekend, lured in part by interest-free offers from General Motors Corp. and Ford Motor Co., according to the Wall Street Journal. But sales in many areas still weren't up to levels seen before the Sept. 11 terrorist attacks, dealers and industry analysts said.
"While it's too early to say there's been a definite and sustained turnaround, I think that we should be heartened by the lack of any further deterioration," said Van Bussman, economist at consultants J.D. Power &
Associates.
According to data from more than 5,000 dealerships collected by J.D. Power, sales Saturday were down 16 percent from the average of the four Saturdays before Sept. 11. That was the smallest decline seen any day since the attack. In the first week after Sept. 11, J.D. Power's data showed sales falling off as much as 40 percent.
While day-to-day sales results can be very volatile, making comparisons difficult, dealers and industry officials confirmed that consumers, who cut back sharply on spending right after the attacks, are returning to the market.
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