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with all areas surveyed reporting lower sales. In addition, the first half results are almost 20 percent below first half levels from two years ago.
“Virginians increasingly are avoiding the long-term financial commitment of a new car purchase, content for now with their older but almost paid for automobiles,” said Mr. Pearson.
Rising economic apprehension about future income growth, taxes and job opportunities will likely sustain that reluctance to buy in the coming months. Mr. Pearson said he expects continued declines in new car sales, even if interest rates ease slightly.
Retail sales were generally better, with a sample of stores showing
93.9%