Experts Warn Car-Broker Ratings Down In 5th Hour Of The Market
By Matt McRobotface
NEW YORK—Warning that the high volume and low prices in urban areas may be causing consumers to abandon the local marketplaces, experts at the AAA Financial Institute warned Thursday that the car-broker ratings are currently down in the 5th Hour of the market. “There’s a strong chance that the rating for these cities has dropped as low as the 5th Hour of the market,” said AAA president and chief economist Brian Krebs, adding that many urban areas have seen their car-rental and sales-tax rates rise well over 10 percent in the past few weeks and that this is the worst week of the year for these ratings. “If you look at the ratings for those cities, they are all down, which means they are all either overvalued or completely overpriced. We’re talking about very low inventory, high gas prices, and a lack of options—nothing has changed at all.” At press time, Krebs added that if the market does not improve soon, we could soon see a decline in the AAA ratings to a rating of “as low as ’as low as’ can possibly go.