Throughout the day, the big auto companies will be announcing their April US auto sales figures.
Analysts estimate the pace of sales decelerated in April to an annualized rate of 16.90 million, down from 17.05 million in March.
“The boost to sales from the easing of winter-weather disruptions likely ran its course by April, but we don’t expect too much of a decline, owing solid consumer demand,” Bank of America Merrill Lynch analysts said. “A healthy pace of hiring and a relatively subdued gasoline price are also helping to keep autos sales supported.”
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