Albany business benefit from economic concerns - WALB.com, Albany News, Weather, Sports

Albany business benefit from economic concerns

Posted: Updated:

March 6, 2008

Albany -- Some businesses in Albany say they can see people are worried about the economy, and the chance of recession. But some businesses benefit from conservative consumer spending. And those businesses are booming.

 Despite talk of recession, Business at Purvis Auto Repair is up dramatically, more than 25 percent. Buddy Purvis said "my business is doing great. I can't complain. We stay busy all the time."

New car sales nationwide are down dramatically.  Buddy Purvis says people are bringing their old cars in for repair, rather than trading them in for a new car. Purvis said "new cars are very expensive now. So I guess they figure, hey, I can put one thousand dollars in my car and maybe drive another year or two."

Billy Chambers at Bill Chambers Motors says people worried about the economy means more business for his used car lot, where business remains steady.  Billy Chambers said "I think people are sitting back, being a little more lenient about what they do, what they buy, where they spend their money at."  

And a new car seems to be where many people are holding back. More people are pulling into Purvis' shop, wanting new timing belts and brakes. Purvis said "I have a lot of friends work at new car dealers. They are not selling that new car. People are just repairing their old cars, driving what they have."

Both Purvis and Chambers said their customers are talking more about the cost of gas and fuel economy in their cars. But both say they don't see South Georgians driving less, even as gas prices continue to increase.

feedback: news@walb.com?subject=usedcareconomics