WATERLOO - Wall Street meltdowns, tightened credit and massive closures aside, Cedar Valley auto dealers say the troubles that are afflicting the car business nationwide have not affected them.

And those troubles appear to be many.

A few examples:

The National Automobile Dealers Association recently predicted that 600 of the 20,700 new-car dealerships in the U.S. will go out of business this year, compared to 430 last year.

All major players in the auto industry, both foreign and domestic, reported double-digit sales increases in September from the same period a year ago. Ford Motor Co. was down 35 percent; Toyota Motor Corp. fell 32 percent; Honda Motor Co. slipped 24 percent; Nissan Motor Co. declined 37 percent. General Motors Corp., which ran an employee-pricing promotion during the month, limited its decrease to 16 percent.

Recently released data showed that monthly U.S. auto sales dropped below 1 million in September for the first time in more than 15 years.

Cedar Valley consumers, apparently, are on a bit firmer ground, according to area dealers.

"Our business has been pretty good," said Mark Birdnow, who has four new-car dealerships and two used-car locations in the Cedar Valley. "New-car sales were strong the last two months."

Some adjustments to current business realities have been necessary, however, he said.

"My business managers are saying it's not as easy to get financing for folks that have a little bit lower credit scores," Birdnow said. "Other than that, I guess people still need cars and still need to get around, and I'm sure glad I'm not selling something that's recreational like boats and campers. A car is still pretty much a necessity in our area."

The Iowa Auto Dealers Association reports a similar situation among dealers across the state.

"I think, frankly, the dealerships in Iowa are pretty stable," said Gary Thomas, the association's president.

He acknowledged that problems in the car business have touched Iowa dealers to a degree.

But, he said, other factors have served as a buffer.

"We've had a downturn and, frankly, our industry has been down for as much as two years; it was just (more noticeable) in the last three to four months because of what we've seen nationally and globally," he said. But commodity prices are higher than in recent years, and that brings money into Iowa's economy that stabilizes retail businesses," he said.

Thomas said September was a tough month for automakers, but he said the tumult on Wall Street has to shoulder at least some of the blame for that.

"What's going on in Congress has lent itself to buyers slowing," Thomas said. "I do think consumers are having a tougher time securing loans on vehicles, and they're asked to make larger down payments."

Long-term loans stretching as far as 72 months are becoming less commonplace, he added. "I think lending institutions are pulling back," he said. "It' s not an overwhelming, but it's happening."

Bill Colwell, a Ford dealer in Hudson and chairman of the association, agreed that the local automobile market has been insulated from some of the problems that have hit other parts of the country.

"We're in the Midwest, and my sense is that the economy is better here than what we're seeing nationally."

Colwell said his dealerships sales are running "about dead even" with last year on new cars.

"What I'm seeing is that the Midwest is outperforming the nation," he said.

That, he added, is a result of a strong farm economy.

"We've got commodity prices that are good, so I think Iowa's economy is generally OK," he said.

"I just don't think the Midwest economy has had the severe downturn that has happened in some of the cities and on the coasts."

Other dealers that belong to the association are voicing similar optimism, Colwell said.

"Business is decent," he said. "I don't hear anybody saying they're setting records, but it's not what we're hearing in the national news. I'm seeing from Ford where the small-car business is up in the Midwest and the truck business is down, but down substantially less than the rest of the nation."

He added that, on the financing end of the business, he had not noticed any "dramatic" changes.

"We might have some deals where they're looking for a little more down payment but not anything that's been prohibitive to our business," he said. "It really has been steady. We keep our fingers crossed and it seems like, again, what I'm hearing on the national news, I don't believe it's that bad here. Certainly, there has to be some effect."

Sales of sport utility vehicles and other truck-based vehicles have plummeted, as fuel prices have shot up in the last year or so, but Birdnow said buyers in the area haven't totally abandoned them.

Some, he said, have actually found new reasons to stick with larger vehicles.

"Half-ton trucks and SUVs have dropped in value, and a lot of consumers, I think, are realizing the value," he said. "If they can buy them for less money, they have room and safety and can save money, even with the extra hit on gas. And, a good share of our SUVs will still get 18 to 20 miles to the gallon. Consumers are smart; they can figure out what the best way to go is. We're just here to help them."

Cedar Falls-based Dan Deery Motor Co. is having a record year for sales, said Jamie Thompson, the Pontiac and Dodge dealer's general sales manager.

"Our picture is running pretty strong, up about 28 percent on new cars and selling a ton of used," he said. "We're noticing a ot of car deals gong down."

Thompson said a large part of the credit goes to repeat business.

"About 75 percent of our customers are previous," he said. "We're doing a lot of that and referrals. There's a lot of people in the market."

Deery has a number of incentives in place, Thompson said. "We have a lot of good programs on new, a lot of special rebates and incentives, cashable rebates and special rates," he said. "It's making a big difference for us."

Dan Deery, CEO of the dealership, said Cedar Valley buyers are actually able to benefit from factors that are negatively impacting the business elsewhere.

"The traffic is down a bit, but the buys are so good out there, it's just a great time to buy a car," Deery said. "The economy here is pretty solid, and you can take advantage of a situation that is portrayed a certain way elsewhere and not so much here."

Contact Jim Offner at (319) 291-1598 or jim.offner@wcfcourier.com.