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August Auto Sales Soar for General Motors, DaimlerChrysler.
Knight Ridder/Tribune Business News, September, 1999 by Konrad, Rachel
Knight Ridder/Tribune Business News
Sep. 2 -- America's scorching demand for trucks -- and automakers' generous rebates -- propelled General Motors Corp. and DaimlerChrysler AG to increased August sales.
Consumer confidence in the stock market, low unemployment and relatively low-interest vehicle loans and lease rates are likely to carry the industry to record annual sales. According to Comerica Inc.'s annual Auto Affordability Index, the amount of time it takes an average U.S. family to pay for a new vehicle is at its lowest level in 19 years.
Based on encouraging August sales, GM market research chief Michael DiGiovanni predicted that automakers will sell nearly 17 million vehicles in 1999 -- more than any year since 1986, when automakers...
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