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Auto Sales May Rise to Highest of Year on U.S. Closeout Deals

U.S. auto sales probably rose to the highest level of 2010 last month as model-year closeout deals drew consumers back to showrooms.

Industrywide deliveries, which are released tomorrow, may reach an annualized rate of 11.9 million vehicles in July, the average of eight analysts’ estimates compiled by Bloomberg. That would be 5.3 percent higher than last year’s 11.3 million pace and the best month since August 2009, when the U.S. government’s “Cash for Clunkers” incentive program inflated sales.