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Americans bought new cars and trucks in June at the fastest pace in eight years, attracted by easy credit and the need to replace aging vehicles, while a record wave of recalls by General Motors had scant impact on the company’s sales.
Total U.S. auto sales rose 1.2% in June to 1.4 million, which may sound like a modest increase.
But consider this: There were only four weekends in June compared to the same month a year ago.
When the selling rate is adjusted to a daily basis, sales rose 9% for the month. And that translates into an annual selling rate of 17 million — the highest rate since July 2006, according to Autodata. READ MORE