US auto sales seen falling as car market awaits war impact [Yahoo! Finance]
General Motors Company (GM)
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Source: Yahoo! Finance
JUSTIN SULLIVAN/GETTY IMAGES NORTH AMERICA/Getty Images via AFP Carmakers are expected to report lower first-quarter US sales as the Middle East war clouds the industry's outlook compared with unusually favorable dynamics a year ago. The US-Israeli offensive on Iran, launched on February 28, has boosted oil prices by more than 50 percent, sending gasoline prices to more than $4 a gallon. While that adds to the affordability challenges facing the industry, experts and automakers say it is too soon to determine the war's overall impact on sales. "We're certainly keeping an eye on this situation," Toyota said. "At this stage, however, it's too early to determine how the industry will be impacted." Cox Automotive forecasts a 0.1 percent dip in Toyota's auto sales in the first quarter. A bigger factor than the war in the first quarter will be the market dynamics compared with last year, when worries about expected tariffs from President Donald Trump prompted shoppers to rush c
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