CNNMoney says that consumers are avoiding gas guzzling SUVs and buying… nothing! whaddayaknow.
“Anywhere you want to look, credit conditions, the job market, stock market, you can see the consumers are getting hammered,” Schnorbus said. “If there was ever a time when you want to sit back and wait out the storm, now is the time to do it.”
But automakers also suggested some of the weakness in car sales could be due to the short supply of many fuel-efficient models after a rush to buy those vehicles in May.
“That limited supply we believed had an impact,” said George Pipas, the director of sales analysis for Ford
Automakers are rushing to increase production on cars like the Prius in order to catch up with demand. Do you want a Prius or are you waiting for something even better? Or are you just, you know, already upside down on your current car loan and barely able to find the money to drive to the grocery store — let alone buy rapidly shrinking food?