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Few Smiles Evident On Car Lots These Days
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A couple of blocks away, at Gib Leonard's, a man wanders in to see salesman Jamie Jones and asks if there are any Toyota Camrys or Corollas. Jones walks him over to the '06 Camry on the lot, and the man says, "I can pay up to $5,000."
This is not a happening thing.
With customers watching every penny, and trucks selling -- if at all -- for 50 cents on the dollar, and small cars basically out of reach for used-car dealers ("I have to pay now what I was retailing them for last year," Jones says), the future looks bleak. Jones's salvation comes in the form of exports to Europeans, Russians and Israelis eager to take advantage of the weak dollar, and from his decision to start selling motor scooters, which get 90 miles to the gallon. "I thought it would be a fun little side business, but it turned out to be a smart move," Jones says.
Back at Auto Bank, Moalem doesn't see a lot of hope. He figures it will be five years or longer before enough hybrids are in production to make a real difference in gas consumption. In the meantime, the flow of customers is every bit as bad as during the sniper days in 2002, when nobody wanted to be caught out on a car lot.
An '06 Jeep Grand Cherokee sits on Moalem's front asphalt, still on its warranty and hardly been driven. It was $36,000 new; it's yours for $14,000. It's been sitting for two months. "Can't get rid of it," the boss says. "Can't make $1,000 on it. Nobody wants it."
E-mail:marcfisher@washpost.com



