Tuesday, December 1, 2020

Tag: Auto Sales Weak Again

Auto Sales Weak Again, Average Loan Hits Record 5.75 Years: Don’t Worry “Plateau Expected”

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by Mish Shedlock, Mish Talk:
With about 3/4 of the totals in, vehicle sales in June are running no better than even compared to May’s 16.7 million annualized rate according to Econoday.

The Wall Street Journal report is much weaker: U.S. Auto Sales Fall as Fewer Vehicles Go to Rental Chains.

According to the article subtitle, GM, Ford and Fiat Chrysler are moving away from practice of dumping unwanted inventory into rental lots. The body reads quite differently. It is the rental car dealers cutting back due to warranted fears of a decline in used vehicle prices.