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Cox Automotive Lowers Full-Year New-Vehicle Sales Forecast as Persistent Supply Problems Continue to Hold Back Auto Industry

UPDATED, July 5, 2022 – The Cox Automotive Industry Insights team had expected a year-over-year decline in June auto sales. The actual decline, however, was even greater than expected. Sales last month came in at approximately 1.125 million; the forecast was for 1.2 million. Some declines were particularly notable, with large year-over-year declines at Buick, …

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Toyota earnings drop doesn’t determine full-year outlook

TOKYO — Japanese juggernaut Toyota Motor Corp., coming off a year of record profits, saw earnings retreat in the latest quarter but remains bullish about US economic prospects. The company, in announcing its quarterly financial results last week, downplayed talk of a budding recession in the all-important US market, saying key economic indicators remain strong. …

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