S&P Cuts U.S. Auto Sales View on Slowing Demand, Brexit EffectBy
Estimate for 2016 reduced to 17.5 million from 17.8 million
S&P analyst also cites softness in prices for used vehicles
S&P Global Ratings cut its estimate for U.S. auto sales this year to 17.5 million vehicles from 17.8 million, citing slowing demand from individual buyers and the effect on the nation’s economy from U.K. voters’ decision to leave the European Union.
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