US Government Shutdown Cripples October Car Sales

The prolonged U.S. government shutdown is damaging consumer confidence and may trim October new-vehicle sales by as much as 10 percent, said John Krafcik, CEO of Hyundai Motor Co.'s U.S. sales unit.

The standoff in Washington that began Oct. 1, leaving some government agencies closed and federal workers furloughed, is generating "anxiety" for many people, Krafcik said in an interview with Sara Eisen, an anchor of Bloomberg Surveillance.

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Car4Life - 10/15/2013 1:30:53 PM

+1 Boost

will be interesting to see what effect if any the shutdown has on luxury sales

WelcomeLexusIS - 10/16/2013 10:44:22 AM

+1 Boost

I wouldn't think it would affect luxury sales too much. No one really gets rich by working for the Federal government except for the politicians.

WelcomeLexusIS - 10/16/2013 10:51:52 AM

+1 Boost

Possibly, you might see a spike in car sales at current interest rates due to worry of a federal default and subsequent credit downgrade which would cause interest rates to go up. But hopefully that won't happen.