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Clunkers sales hangover may be less severe

Clunkers sales hangover may be less severe, analyst says

Posted Thursday, Sep 3, 2009, 1:41 pm in Employee News

The falloff in the sales rate this month after the cash-for-clunkers program may be less than expected, an industry analyst says, the Automotive News reported.

About 14 to 22 percent of the 690,000 cash-for-clunkers deals submitted to the government did not appear in July or August light-vehicle sales totals, said Jeff Schuster, an analyst with J.D. Power and Associates, said, the trade publication reported. That means about 100,000 to 150,000 cash-for-clunkers units may pad September sales, he said in an interview yesterday with the Automotive News

“The payback may be softened by the fact that there may be some transactions lingering out there,” he said. “The data that we have captured is suggesting that everything is not in there.”

The data J.D. Power gathers and analyzes from new-vehicle purchases indicate some of the 690,000 cash-for-clunkers purchases may have been for ordered vehicles that had not arrived at dealerships, Schuster told the paper. Some dealerships also may not have completed all their transactions. If so, those sales will be counted in September, he said, the story noted. (Automotive News)

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