NEW YORK (AP) — Hundreds of thousands of new cars and trucks that would have quickly made their way to people’s driveways a year ago are now stacking up on dealer lots across the country, with potential buyers worried about whether they’ll keep their jobs, be able to pay for gas, or qualify for a car loan. For auto dealers the increasing cost of the credit they use to keep inventory in their showrooms means every car with a sale sticker in the window is threatening to send more of them out of business.—-Contact The Daily Reveille’s news staff at news@lsureveille.com
Credit crisis adds to pressures on car dealers
October 4, 2008