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Car Dealerships Feel Effects Of Auto Bailout Woes

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Dec 12, 2008 9:29 pm US/Central

Car Dealerships Feel Effects Of Auto Bailout Woes

 CBS News Interactive: About Detroit's Big 3 Bailout

Reporting
Jack Fink
DALLAS (CBS 11 / TXA 21) ― These are also tough times for people who make a living selling cars.

The latest numbers show many North Texans aren't in the mood to buy a vehicle. When it came to buying cars last month, North Texans slammed on the brakes.

The New Car Dealers Association of Metropolitan Dallas says sales of new cars are down ten percent for the year locally, but down 20 percent for the year nationally.

Car dealers like Carl Sewell say they're concerned, but still confident because sales are accelerating again. They say sluggish sales have forced GM, Ford, and Chrysler to offer the steepest rebates and discounts yet.

Sewell owns nine dealerships. He says he's watching expenses closely, and he hasn't had to lay-off employees. However, other local dealerships have cut employees' salaries.

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