Car Sales and Economic Retail Sales - Know the Reality of Economic Indicator Figures
The auto sales are still in the mix today, even though they are not doing us any favors when judging actual retail sales.
One question might be; should auto sales really be thrown into the retail sales mix? Many believe so, as sales tax is charged in each auto sale, and if you keep those numbers out then sales tax does not jive with retail sales figures.
Breaking out the retail sales numbers seems important, and folks should study the numbers much closer when judging the economic turn-around.
Further, nothing seems to be a better tell-tale sign of increased consumer confidence than higher-ticket car sales.
Too, there is a tremendous number of jobs which become available in the service sector based on car sales - for instance, oil change services, auto detailing, carwashes, aftermarket auto-accessory installations, and the auto accessories themselves; GPS, Satellite Radio, car audio, etc.
Of course, auto sales are hampered by a lack of financing, tightened credit, and a fearful consumer unwilling to take on anymore short-term debt.
The uncertainty factor is real, and really serious.
Also, until consumers feel their job is safe, and they won't get laid-off like some of their friends may have, you cannot expect them to be out buying cars in droves.
High-end luxury goods and big brand expensive products too face that same fate.
Please consider all this.