The Norman Transcript

October 3, 2013

Auto rebound expected


The Norman Transcript

NORMAN — We don’t mean to “punish” you, but the auto industry has been on a roll for more than two years. September’s sales figures showed a rare 4 percent drop in a 27-month streak that has seen gains for the volatile industry.

Buyers had some pent-up demands during the recession. Many were afraid to take on more debt at a time of uncertainty. In September, automakers sold 1.1 million vehicles.

The September numbers were viewed as an anomaly because Labor Day weekend transactions were pushed into August rather than September.

Analysts said the positive sales trend should pick back up this month. They point to fewer jobless claims, higher home prices and household wealth rising.

We think gasoline prices could have something to do with it, too. On Tuesday evening, a metro 7-Eleven store had prices below $3 per gallon, something we haven’t seen in many months.