Auto sales this month are expected to be off by 5-10 percent, due to the government shutdown.
Auto sales this month are expected to be off by 5-10 percent, due to the government shutdown. GM and Ford stated earlier this month that the shutdown would pose a threat to the already fragile economy and now Hyundai CEO John Krafcik has confirmed to Automotive News that he also expects the industry to be off this month.
“It’s that anxiety that keeps customers, potential buyers, on the sidelines when making a big purchase like an automobile,” he said. “We’ll probably see the industry off five to 10 percent this month, compared to where it was in September. I think a lot of it has to do with this shutdown discussion.”
Auto sales have been one of the shining stars of the US economy this year, but as the government shutdown continues the auto industry and the US economy as a whole continues to suffer.
Source: Automotive News