The latest auto news, reviews, prices, product and vehicle releases. Dec
9th
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The freeze continues.
The frozen consumer credit markets all but shut down auto sales in October, and despite Treasury Secretary Henry Paulson's dumping of hundreds of billions of dollars into banks' coffers, lending did not ease significantly in November, so auto sales remained on ice. A second factor that might have dampened consumers' enthusiasm for new-car shopping is the fact that more than half a million Americans lost their jobs last month.
Photo Gallery: 2008 November Auto Sales - Car Sales Analysis - Automobile Magazine