October 13, 2008 Economic fear drives auto sales down Play video

(Brad Puffer, NECN) - The sales signs are up - as car dealers try to lure new customers despite fears over the economy.

“I think People are nervous they look at the newspaper they watch the TV they look at the 401k of course they are going to have nerves and react to it.”

On average us auto sales fell by 26 percent nationwide in September - less than a million vehicles sold for the first time in fifteen years. The declines were across the board. Ford down 32%, Chrysler down 30% Toyota down 30% and Honda down 21%.

I think it was very depressing to look at those numbers

Michael Shafman is vice president of Boch Automotive. He says the company's numbers are also down but not nearly as much. He says New England in general saw only about half the national decrease. And he says Honda has often bucked the trend by offering smaller more fuel efficient vehicles.

At least at Boch Honda - we found no shortage of potential customers on Columbus Day - a day when the stock market finally went up.

The economy scaring you away from buying anew car, no not really I can imagine the car dealership are hurting too they want to sell their cars so good to buy

I knew my lease was up I budgeted for it and I prepared for it.

And despite fears that the credit crunch has frozen up new loans, Shafman insists that's not the case, though he admits some banks are being a lot more careful.

The parameters of whose buying and how

While Boch automotive was happy to talk - many car dealers did not return our calls or preferred to avoid a story about declining sales.

The availability of cars the desire for the car dealership to make a deal I think it's a great buying opportunity.