Richmond Fed, Report: Rough Road Ahead for Auto Sales
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“Does the auto industry still have further room to run? While auto sales have been trending up over the past several months, we’ll look into a couple of reasons why the future may not be so bright. Despite rising interest rates dampening demand in this traditionally interest rate-sensitive sector, the seasonally adjusted annualized rate (SAAR) of light vehicle (that is, auto, light truck and SUV) sales rose to 15.9 million in April from a pace of 14.8 million units in March …”