Ford and Toyota U.S. Sales Down in July

People just don't want to go out and buy a new car. It is taking too much of their real income to buy gas and groceries these days. When we do go out to eat, we notice there are less people in the restaurants that used to be standing room only, waiting for a table or booth. U.S. auto sales slumped to a 16 year low in July as automakers failed to keep up with consumers' growing demand for smaller, more fuel-efficient vehicles. That does show you that people are getting some money somewhere to buy smaller cars and get rid of their gas hogs. There is also trouble in the credit and auto leasing markets that will continue to take a toll on sales.