Abating Autos

After record auto sales of 17.40 million in 2015 and another record year of 17.47 million in 2016, auto sales slipped in 2017 and 2018 to 17.14 million and 17.19 million, respectively; good but not great numbers. YTD, sales are on a 16.8-million-unit pace, the weakest annual total since 2014. This decline should cut 0.2% from GDP in 2019, nothing drastic, just more evidence of a slowing economy.

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