U.S. sales surged to a record for August on a seasonally adjusted basis, continuing to mirror year-ago’s pattern. High inventory combined with generous incentives were the impetus for sales to hit a seasonally adjusted annual rate (SAAR) of 19.0 million for the month. The delivery of early income tax checks for child credits also may have had a positive impact. The SAAR beat the previous August record of 18.7 million, attained last year, and was the third highest on record for any month. ...

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