The good news apparently is that the automakers have decided this plunge is not from lack of demand post Cash For Clunkers but from lack of available inventory. So, let's turn those machines back on, boys and girls.
That's good news, because some of us cling to the apparently mistaken belief that Cash For Clunkers did nothing except shift demand around from one period (the future) to another period (the cash for clunkers era). Oh, and it created all sorts of bad market signals in a broad swath of industries.
“We are going to see harsh reality in September," Sergio Marchionne, the chief executive officer of Fiat and Chrysler, said at the Frankfurt Motor Show. He described the U.S. industry results as a “disaster."Anyway, here's the article with Chrysler's chief quoted.