real-time news and commentary for investors
Tuesday, Nov 20
2012, 10:40 AM
The auto industry could take the some of the sharpest blows if the fiscal cliff is as...
The auto industry could take the some of the sharpest blows if the fiscal cliff is as devastating as the most dire forecasts make it out to be. Analysts note a higher tax rate on the rich will do little to curb the purchases of Mercedes-Benz, BMW, and Lexus cars - but even just the scare of a budget deal impasse could decelerate broad auto sales in December. Edmunds Chief Economist Dr. Lacey Plaches puts a number out amid all the conjecture, calling out a 3% dip in auto sales if cliff jumping is the plan.