You know things are getting worse during Bush's recession when the
nation's semi-upper-crust puts off buying their Lexus and Mercedes
luxury cars.
It seems The RECESSION is not just for we "little people" anymore.
-----------------------
"BUSINESS BRIEFING"
AUTOMOTIVE
Lexus, Mercedes Sales Fall in U.S.
U.S. sales of luxury auto brands including Toyota Motor's Lexus and
Daimler's Mercedes-Benz fell in April, adding to evidence that the
economic slowdown is causing even wealthy buyers to curb spending.
Sales by automakers' luxury divisions -- broadly defined by analysts
as those selling autos for $40,000 aimed at the most-affluent
consumers -- dropped 13 percent from a year earlier, according to
Autodata. That outpaced the 8.9 percent decline in sales of all
vehicles.
The results reflect the run-up in gasoline prices, dropping real
estate values and tighter credit that forecasters said may halt
economic growth by midyear. Sagging stock markets and shrinking
bonuses may also be weighing on premium-brand buyers, Autodata said.
http://www.wa****ngtonpost.com/wp-dyn/content/article/2008/05/02/AR2008040203660.html
