Stimulus to help local car sales?

February 15, 2009 4:20:36 PM PST
Representatives from the big three put their best wheels forward on Sunday.They were in Raleigh at the state fairgrounds for the 22nd Annual International Auto Expo.

They say they are hoping they'll get a sales boost soon, thanks to a clause in the stimulus plan that President Barack Obama is signing Tuesday.

People who delay new car purchases until then can deduct the state and federal excise taxes they pay.

That's worth about $600 to a family bringing home less than a quarter million, and buying a new car for $25,000.

The car companies are banking on it to get people back into showrooms, since the sluggish economy put the brakes on sales.

However, many wonder is that enough to get the average consumer past the looking stage.

"It's beautiful cars, but right now is not time to get a new car," expo attendee Fernando Roa said.

A car dealer from Goldsboro says even used car sales have slowed down.

"It's been very slow; people don't have the money to spend," used car dealer Ben Parrish said. "You know, cars are big ticket items. Sometimes they try to keep their cars longer when normally they would trade them in. So anything that's going to infuse money into the economy will help everybody."

Officials say we will just have to wait and see if the stimulus can drive the car business out of the fiscal ditch it's in now.


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