U.S. car sales seen higher, boosted by tax refunds

Newswire

By Michael Ellis DETROIT, April 30 (Reuters) - Credit the tax man for strong U.S. car sales. Consumers flush with cash from higher tax refunds and lower home mortgage rates pushed U.S. new car and truck sales up 3 to 5 percent in April to the strongest levels since December, analysts said. "Following unprecedented tax cuts, consumers have enjoyed an unusually good refund season," Goldman Sachs analyst Gary Lapidus said. "This should provide an incremental boost to car sales both in ...

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