clipped from: www.nytimes.com   
Can American drivers live without that new-car smell?

In recent years Americans appeared to be hooked on it and took advantage of home equity loans, easy credit and cheap short-term lease deals to send new-car sales to levels of more than 17 million a year.


Now the market has collapsed by 46 percent to below 10 million, as people are making do with the cars they have, leaving the industry to debate — and worry — about what the new normal will be once the recession ends.


Some say the downturn is temporary and that sales will spring back in a few years. Others believe Americans will rethink whether they need so many cars, particularly new ones.


Making predictions is tricky in this economy.

“I used to buy cars all the time and took out loans to pay them off,” he said

I can’t do that anymore”