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Sector Snap: Aug. auto sales might not be too bad
August 29, 2011, 8:17 am
Automotive stocks could get a needed boost when August sales figures for the U.S. are released on Thursday. Citi Investment Research analyst Itay Michaeli said sales won't be as bad as expected despite some notable headwinds: car buyers anxious about stock market volatility; continued shortage of models because of the Japan earthquake; and automakers' reluctance to offer discounts.
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