Saturday, February 9th, 2008

Summary Box Auto dealers brace for tough year

THE OUTLOOK: Many auto industry analysts are predicting that 2008 will be the worst U.S. auto sales year in more than a decade. Predictions run from 15.5 million vehicles to about 16 million, but either way it’s down from 17 million as recently as 2005. THE CAUSES: Adjustable rate mortgages are going up, housing values are declining, the stock market is in a funk and companies are shedding jobs. THE CONVENTION: About 10,000 auto dealers and spouses will gather in San Francisco starting this weekend to discuss the economy and other issues at the National Automobile Dealers Association annual convention.AdvertisementGetAd(’tile’,'box’,'/home_article’,”,’www.mercurynews.com’,”,’null’,'null’);

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