While you were sleeping US car sales accelerate

Wed, 04 Sep 2013

By Margreet Dietz Sept 5 (BusinessDesk) - Wall Street gained amid data showing US car sales are on track for their best month in six years, underpinning the view that the world's largest economy is accelerating its recovery. Shares of General Motors rose, last up 4.7 percent, as did those of Ford, last 3.9 percent stronger. GM said August auto sales were 16.3 million vehicles on a seasonally adjusted annualised basis. This would easily top the 15.8 million annualised sales rate forecast by 45 analysts surveyed by Thomson Reuters. "The auto i...

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