DETROIT — Unemployment is down, consumer confidence is up, and gas prices and interest rates are still low. Even so, U.S. auto sales fell 3 percent last month, the Los Angeles Times reported.
It was the sixth straight monthly decline as sales dropped off last year’s record pace. For the first six months, car and truck sales fell 2.1 percent, the first such decrease since the financial crisis in 2009.
But auto executives and industry analysts say it’s no cause for panic. Sales are still strong and aren’t expected to plunge anytime soon. Plus, buyers are still loading out trucks and SUVs with high-priced options, and that’s likely to boost earnings, at least in Detroit.
The full story is available at the Los Angeles Times.