FYI: We've seen a continued pickup in auto sales over the course of the spring, with the most recent Auto Sales release for July showing a seasonally adjusted annual rate (SAAR) of 16.4 million total, 12.95 million domestic. That figure is down slightly from June's figure (16.92 million total, 13.25 million domestic) but represents a shift upward in terms of momentum from this time last year when sales were 15.73 million and 12.2 million. The move higher for auto sales is a great sign for the economy, and we've seen a steady move higher throughout the recovery from the "great recession," which is just another example of the slow but steady improvement that has been a hall mark of this economic expansion.
Regards,
Ted
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