Auto sales took a big hit after the Cash for Clunkers program ended last month, the government confirmed today. That's no big surprise to analysts or anyone who's been following the post-clunker slump in sales figures for the top sellers.
What's interesting is what's going on inside those numbers too. Luxury car sales are tanking, reports the Detroit Free Press. And the numbers of luxury car buyers who trade up to better cars has dropped a fourth or more, according to Automotive News, which has been tracking some inside numbers. Maybe that's a tradition. Time magazine ran a nearly identical analysis a half century ago. It's 50 years next month since Ford announced it was killing the Edsel.