Car companies are pounding coffee and 5-Hour Energies in order to top the sales charts these days. However, despite the war to be the largest manufacturer, car dealers are worried that the unstable and eye-watering economy may scare buyers off.
To throw some statistics out, back in May of this year, many people thought that sales would reach 13.5 million cars this year after factoring differences from the peak in 2005 and the 30-year low in 2009…by the way, that’s a lot of cars.
However, after more of 2011 went by, the projections now seem overly optimistic. Analysts of the economy say that the unstable economy could reduce auto sales, which ripples effect to the companies who may be forced to suspend hiring and shrink earnings. And that’s not good also considering that the automobile industry has been a recent leader in job creation.
– By: Chris Chin
Source: Free Presss