U.S. auto sales could suffer as buyers wait out budget drama

Hyundai (HYMLF.PK) CEO John Krafcik says the government shutdown could affect automobile sales in the U.S. by as much as 10% in October as consumers wait out the drama before hitting showrooms.

The gloomy assessment is far below where most auto analysts have October sales pegged, although anecdotal evidence for the first two weeks of the month indicates traffic at dealerships has been below expectations despite some high-profile model introductions.

A survey from Kelley Blue Book also backs up the outlook, with 18% of respondents saying they would delay an automobile purchase until the government shutdown and budget issues were resolved.

Related stocks: GM, F, TM, HMC, VLKAY.PK, NSANY.OB.

Comments (1)
  • gatorhiker09
    , contributor
    Comment (1) | Send Message
    Any loss in sales will be made up in Nov. and Dec. your automobile is an necessity.
    15 Oct 2013, 08:47 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs