Wednesday, September 2, 2009

Car sales rebound during Cash For Clunkers

The federal "cash for clunkers" program lifted U.S. auto sales in August to the first monthly, year-over-year gain since October 2007, raising hopes the market is beginning to rebound.Analysts and auto executives expect demand to fall in September, in part because some buyers pulled ahead purchases to take advantage of as much as $4,500 in government rebates. But recent signs that the economy may be improving could prevent sales from dropping to new lows.

Still, the outlook is uncertain. "People are feeling the uptick, but how long will it really last, no one can say for sure," said Laurie Harbour-Felax, president of Harbour Results Inc.

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