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Auto Sales Slump

After a "boom unlike any other in modern history." the auto industry now faces a slowdown, according to The New York Times. "Car dealers around the country said that the upgrade cycle they rode to rich profits in recent years appears to be ending and that they are seeing fewer buyers despite offering discounts and other incentives."  So, "dealers say they are ordering fewer vehicles from manufacturers."  The shift "could weigh on the United States economy. The auto industry is the largest manufacturing sector and makes up about 3 percent of gross domestic product."

Read the whole story at The New York Times »

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