Car sales reports are rolling in today from auto manufacturers, even as the nation's leaders struggle with a compromise to keep America's economy from falling into default. As expected, sales aren't quite up to the levels seen earlier this year, which is fueling concerns that the economy that had shown some vitality earlier in the year is sagging--which in turn is leaving automakers wondering if any strong recovery is in sight.
While final numbers filter in, the market analysts at J.D. Power are predicting the seasonally adjusted annualized rate (SAAR) coming in at about 11.9 million units in July--with just 9.8 million units being sold at the retail level. The reason? It's the economy, says Power's director of forecasting Jeff Schuster.
