U.S. light-vehicle sales volume hit a 15-year low in September, dropping below the million-unit mark for the first time since February 1993. While demand for smaller vehicles and associated short-term production and inventory problems have been primary forces behind feeble auto sales in recent months, the extreme tightening of the credit market, especially in the final half of September, wreaked new havoc on industry sales. The decreasing availability of loans for auto purchases took its ...

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