Economics
U.S. Auto Sales Estimates Cut as Confidence Slows Rebound
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Analysts are reducing estimates for U.S. automobile sales for 2011 and 2012, citing weak consumer confidence that has slowed the pace of recovery since May.
J.D. Power & Associates lowered its estimate for U.S. auto sales in 2011 by 300,000 light vehicles to 12.6 million, the Westlake Village, California-based researcher said today in a statement. J.D. Power reduced its estimate for next year by 600,000 cars and light trucks to 14.1 million.