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(EMAILWIRE.COM, November 08, 2011 ) Wilmington, NC -- In a report released by Reuters, many leading economists expect October's seasonally adjusted annualized rate to be up about 9 percent over 2010.
Analysts believe that October's stronger sales may have been driven by the ready availability of vehicles from Honda and Toyota. ''We think there was some pent-up demand held over from Honda and Toyota die-hards who waited to buy those and in October there was growing inventory,'' Edmunds.com analyst Michelle Krebs said.
This resurgence could be short-lived due to severe flooding in Thailand, which has triggered a shortage of crucial electronic parts. This may affect November and December U.S. auto sales. Honda will cut output by half from November 2 to November 10. Last week, Ford said it expected its production to fall by 30,000 vehicles due to supply shortages linked to the floods.
U.S. auto sales began moving higher in June. The average vehicle on U.S. roads is almost 11 years old. At some point in the near future those cars will begin to break down, spurring new car sales even higher. Sales will not come anywhere near pre-recession levels any time soon, but these increases are at least a sign of life in the American auto market.
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Source: EmailWire.com
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