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U.S. Vehicles Sales Drop as Consumers Wait for Discounts
“September sales were in line with our forecast, although our expectations were modest for what was always penciled in to be a quieter month. Even though the Federal Reserve cut interest rates by 50 basis points – above the expectations of many analysts – it is likely to take some time for lower borrowing costs to feed through to the auto industry. Generally, high vehicle pricing is keeping monthly payments elevated, and therefore some consumers are still sitting on the sidelines,” said David Oakley, Manager, Americas Sales Forecasts at GlobalData. Continue reading →