U.S. light-vehicle sales, based on seasonally adjusted annual rates (SAARs), dropped to a 7-year low in October, largely on the weakness of the two industry leaders, General Motors Corp. and Ford Motor Co. October’s 14.7 million SAAR was lowest since August 1998’s 14.3 million, and paled significantly to the prior month’s already tepid 16.3 million and year-ago’s 16.9 million. Sales totaled 1.143 million units for a daily selling rate over the month’s 26 selling days of 43,970, 10.9% ...

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