So what gives?
It appears the pent-up demand from several years where people put off buying new cars and trucks is pushing people into showrooms. The average age of the cars we're driving are already at an all-time high, and they're only getting older.
How do we know that pent-up demand is pushing sales?
Look at the level of incentives being offered right now. They're low. Yet, sales are picking up. Average people, knowing they might get a better deal by waiting a little longer in hopes of rebates ratcheting higher, are not waiting. They're buying.
Could that change if the market continues to tumble? Absolutely. But for now, people are still buying and auto dealers are keeping their fingers crossed that doesn't change.
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