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

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.

Auto sales continued to slide in June, as car buyers react to higher vehicle prices and Detroit backs away from dumping unwanted inventory into rental-car lots.

General Motors Co. (GM), Ford Motor Co. (F) and Fiat Chrysler Automobiles (FCAU) reported steep monthly sales declines compared with the same period in 2016. While retail demand is losing steam, each of Detroit’s players also reported significant reductions in deliveries to daily-rental companies, long the Motor City’s biggest customers.

Even as auto makers ramp up incentive spending to improve dealer traffic, transaction prices are rising as cars are loaded with more safety gear and connectivity...


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