-
U.S. auto sales shrink as high interest rates discourage buyers
Sales of new cars and trucks fell 4.4% in August, unable to overcome high interest rates and a somewhat slower economy. U.S. automobile sales rose at an annual rate of 15.1 million last month, down from about 15.8 million in July, according to Ward’s Intelligence. The figure reflects how many new vehicles would be sold in the entire year if the same number were purchased each month as were sold in August. Part of the decline was expected after auto sales got a temporary boost in July. Sales in that month benefited by the recovery from a cyberattack that crippled auto-dealers’ computer systems across the country ... (full story)
