To paraphrase Mark Twain, news of an auto market recovery has been greatly exaggerated. June’s U.S. light-vehicle daily sales were down 3.5% from May and 30.5% behind like-2008 on a total monthly volume of 857,627 units. The year-ago comparison was a slight improvement for the year’s first six months but showed no improvement over May’s year-over-year downturn of 31%. June was the tenth consecutive month that U.S. light-vehicle sales fell below 1 million units, helping to bring the ...

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