Rental cars kept in service

February 2, 2009 5:55:37 PM PST
In the past there have been reports that car sales are down, way down, but new figures are out and the picture remains the same. keeps track of sales and says January figures look to be 30-percent off from last year. This even though cars are being deeply discounted, selling for 15-percent below the factory's suggested retail price.

"And the gas prices didn't help. The economy didn't help, people are more concerned with keeping their house than buying a new car," said John Brooks.

A big part of the problem comes from rental car companies. In the past they bought around three million cars a year, but with the economic downturn, rental agencies say they're holding onto cars longer, just like consumers.