Light vehicle sales were up versus both the previous month and year.
U.S. auto sales exceeded forecasts in July, with the seasonally adjusted annual rate reaching 16.4 million units, up 3.7% from the same month last year, according to data released by the National Automobile Dealers Association.
The July figure represents a 7.1% increase from June’s seasonally adjusted annual rate. However, the year-over-year comparison may have been inflated because July 2024 sales included purchases that should have occurred in June 2024 but were delayed by a software outage that affected dealerships nationwide.
New vehicle sales are a key factor in
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