Auto sales rise in 1st half, but analysts warn of turbulence
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July 5, 2018
DETROIT (AP) — Neither higher gas prices nor rising interest rates could put a damper on U.S. auto sales during the first half of the year.
Sales rose 1.8 percent during the first half of the year, while June sales were up about 5 percent compared with a year ago, according to Edmunds.com.
Analysts said the boost was fueled by strong consumer confidence and low unemployment.
But analysts at Cox Automotive, which includes Kelley Blue Book, issued a cautionary note on the numbers, saying that much of the increase was due to low-profit sales to fleet buyers such as rental car companies, and retai...
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