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Beige Book: Auto dealers’ sales flat, repair spending strong in July edition

Affordability issues causing some owners to keep vehicles longer

C.J. Moore

Auto dealers nationwide reported little or no change in sales in late May and June, though high gas prices continued to pressure consumers, according to the Federal Reserve’s latest Beige Book. Auto lending declined slightly in a few regions, while auto dealers in other areas reported consumers had more need for service and parts work. Overall economic activity increased at a slight to moderate pace in 11 of the 12 […]

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