More Than A Fender Bender

The Los Angeles Times today asked the question only the mainstream would ask. “Wages are growing and surveys show consumer confidence is high. So why are motor vehicle sales taking a hit?” Indeed, the results reported earlier by the auto sector were the kind of sobering figures that might make any optimist wonder. Across the board, and for the fourth straight month, there was almost all negatives, some still large. Given what Q1 GDP just related, a bad month of auto sales to start Q2 is not a good sign.