Auto Sales Spike To 6.5 Year High; Beat By Most Since "Cash-For-Clunkers"

Annualized auto sales spiked their most MoM in almost 3 years reaching their highest level since May 2007 and beating expectations by the most since cash-for-clunkers in 2009. Inventories are at record highs, GM channels are almost the most-stuffed on record, and incentives are surging once again… the “field of dreams” economy rolls on… what could possibly go wrong?



Mal-investment anyone?


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