August 3, 2010 July Auto Sales — Modest Improvement
It is difficult to compare July 2010 auto sales to July 2009. Last year auto sales where bumped up by the cash for clunkers program. However, comparing July 2010 to June 2010 shows some improvement with the auto industry. Compared to June sales Ford, GM, and Chrysler are all up 3 to 6%. Mr. Al Castignetti, sales chief for Nissan maybe sums it up best:
“There is a recovery. It’s just slower than anybody would like. For a long time people were sucking equity out of their house to buy cars and boats. That’s gone. The people who are out there buying cars are real serious about it.”
We will continue to track auto sales closely, it is a very important sector of taxable sales for Utah’s cities.