NADA Economist: New-Car Sales to Rise in July as Gas Prices Drop
NADA economist Paul Taylor anticipates an increase in new-vehicle sales as inventory levels rise and gas prices drop through the beginning of July.
NADA economist Paul Taylor anticipates an increase in new-vehicle sales as inventory levels rise and gas prices drop through the beginning of July.
A new Kelley Blue Book Market Intelligence survey indicates that 52 percent of car shoppers have changed their minds about gas prices and think they will either stay the same or go down in the next 30 days.
A national survey of 2,000 representative Americans found that large majorities are concerned about gas prices (85 percent), think it is important to reduce oil consumption (87 percent), and believe it is important to increase fuel economy standards (75 percent).
In their latest report, analysts at DealerTrack subsidiary ALG are sticking with predictions they made a month ago that a prolonged production interruption of Japanese-made vehicles could cause prices on some models to jump by as much as 10 percent.
The current economic situation coupled with concern over the rise in gas prices has caused an increasing number of new-car and used-car shoppers to change their vehicle consideration criteria, according to a Kelley Blue Book Market Intelligence survey.
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