The auto industry could take the some of the sharpest blows if the fiscal cliff is as...
Nov 20 2012, 10:40 ET
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.