With 2000 winding down, it's time to look at economic projections for 2001.

Currently, according to Paul Ballew of the General Motors Corp., households are spending approximately 7 percent of their monthly income on vehicle payments. This is expected to decrease slightly in 2001 to 6.8 percent.

Ballew says the largest percentage of individuals buying new vehicles (42 percent) comes from households with incomes of $75,000 and above. He also reports that 26.6 percent of new vehicle buyers have a household income under $45,000 and that 15.6 percent of new vehicle buyers earn an estimated $45,000 to $59,999 in household income. That is followed closely by the 15.7 percent living in households with incomes of $60,000 to $74,999.

The current gross domestic product (GDP) of 5.5 reported by the U.S. Bureau of Economics is expected to decline in 2001 to 3.3. GDP is defined as the output of goods and services produced by labor and property located in the United States.

The unemployment rate is expected to rise slightly to 4.2 percent. Watching GDP and the unemployment rate is a great way to determine the movement of the economy. If these predicted numbers prove true, automotive repair shops may experience a slight decrease in sales.

Now may be the time to consider seasonal promotions and maintenance.

Stat Corner is written by Denise Caspersen, ASA's research management specialist. She can be reached at (800) 272-7467, ext. 236.

RATE THIS ARTICLE What do you think of this article? Your input will help AutoInc. develop additional articles on this subject. Share your thoughts! Your name Your e-mail address

MOST ACCESSED ARTICLES Fuel Injection Service, Not Just Cleaning The Art of Extraction EGR Systems: Operation and Diagnosis Proactive Target Marketing:_Rethinking Your Business Strategy Engine Performance: HO2S Diagnostics MOST E-MAILED ARTICLES Developing Employee Potential How Critical Thinking Can Help Your Business How to Diagnose the Ford Glow Plug What to Look for When Shopping for the Right Shop Management Software Putting a Price Tag on Complaints

AutoInc. Web Site | ASA Web Site | Congress Makes Changes at NHTSA | Service vs. Fix | Good Workflow Strategies, Scheduling | NACE 2000 Special Section | Your Shop Is Busy, But Is It Making Money? | Uniforms Enhance Professional Image | Guest Editorial | Tech to Tech | Tech Tips | Shop Profile | Net Worth | Stat Corner | Chairman's Message