Who can blame them. Last month's sales pace of 11.45 million vehicles was down about 1 percent from May. Yes, the tight supply for Japanese auto makers caused many buyers to sit tight and wait until there is a greater selection of the car they want.
But a bigger issue is consumer confidence. As it flags, so are auto sales.
As long as the jobs picture stays bleak, many people are delaying buying. Last week a survey by Car MD found just 12 percent of those surveyed were planning to buy a vehicle this year.
Almost half said they'd be buying because the have to. In other words, a lot of people are sticking with current wheels.
No wonder dealers are increasingly frustrated. This is not the recovery many envisioned. And unlike years past when goosed incentives could get people into the showroom, in this economy that move has only limited appeal. This is about jobs, confidence and realizing a lot of buyers are holding off on signing up for a monthly auto payment.
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