October car sales seen lower, Edmunds.com says (AP)

Friday October 10, 3:58 pm ET October auto sales to be down from September levels, Edmunds.com says NEW YORK (AP) -- October new vehicle sales will be lower than originally expected as consumers continue to put off major purchases and brace for a prolonged economic slowdown, automotive Web site Edmunds.com said. Sales data from the first week of October points to a 20 percent drop compared with the first week of September, a significantly larger decrease than the 10 percent usually expected, Edmunds.com said. "The automotive market slowdown has entered a new phase," Jeremy Anwyl,... [read full story]