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April Rebates, Incentives Help Auto Sales Blossom

April 14, 2003

The April rebates and incentives automakers showered on consumers at the start of the month, combined with an apparent coalition victory in the war with Iraq, are sparking increased showroom traffic and vehicle sales as the critical spring buying season begins, according to the Detroit News.

April sales seem to be running at a little higher pace than in March, J.P. Morgan Securities Inc. said in a report released April 11. The firm also raised its 2003 forecast for industry light vehicle sales by 300,000 units to 16.4 million. Industry sales fell 0.4 percent last month, better than expected.

For the year, new car and truck demand is off 3.2 percent. "It will be a pretty good, if not a strong month," said Paul Taylor, chief economist at the National Automobile Dealers Association (NADA).

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