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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: TH	11/16/2006 11:05:49 PM
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California auto sales seen slowing through 2007 Thu Nov 16, 2006 5:56pm ET SAN ANTONIO, Texas, Nov 16 (Reuters) - Auto sales in California, the largest U.S. market for cars and trucks, will slow for the rest of this year and next, a forecast released on Thursday by the state's auto dealers association said. The report commissioned by the California Motor Car Dealers association forecast a 2.5 percent decline in 2007 sales. "The reasons for the sliding market are plentiful, including slower economic growth, rising interest rates, elevated consumer debt levels and the slowdown in the housing market," the report prepared by consultancy Auto Outlook said. The California market is seen as a bellwether for national auto sales, which were down about 3 percent over the first 10 months of this year from the same period a year earlier. More at yahoo.reuters.com

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