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October U.S. Automotive Sales Rise 11%

Nov 09, 2012

According to J.D. Power and Associates, U.S. light-vehicle sales rose 11% to 1.13 million units last month, as compared to October 2011. October’s seasonally adjusted annual selling rate is 14.8 million, the second-highest since March 2008. The rate has not exceeded 15 million since February 2008.For the year, J.D. Power expects U.S. light-vehicle sales of 14.4 million units, an increase of 100,000 units from the previous forecast. Consumer demand is driving up the forecast.With the economy improving slowly, unemployment expected to continue declining, and interest rates at all-time lows, all signs point to a continued increase in automotive sales in 2013.