U.S. July Auto Sales May Rise 4.8% on No-Interest Financing
U.S. auto sales may rise 4.8 percent this month
from July 2001, helped by the return of no-interest loans as automakers follow General Motors Corp.'s lead in trying to clear dealer lots of 2002 cars and trucks, according to a Bloomberg News story by Bill Keonig.
Sales may rise 21 percent at General Motors, fall 3.9 percent at Ford Motor Co. and slide 0.2 percent at DaimlerChrysler AG's Chrysler, according to a Luckey Consulting Group Inc. forecast.
Honda Motor Co. will rise 4 percent and Toyota Motor Corp. will fall 4.1 percent, Luckey
said.
Automakers report July sales Aug. 1, and other analysts issue forecasts in the next week.
Automakers are relying on interest-free loans to
spur demand. Consumer confidence fell the most this month since terrorists attacked New York and Washington and as U.S. stocks fell, according to Bloomberg News.
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