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Saturday, December 7, 2024
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Car sales drop 16% on inflation, tax hikes
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CAR SALES DROP 16% ON INFLATION, TAX HIKES




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Automobile sales plunged in 2018 as tax increases and higher-than-expected
inflation dashed the “cautious optimism” offered by carmakers at the start of
the year.

The 16-percent drop to 357,410 units — a reversal from 2017’s record
18.4-percent surge to 425,673 — was lower than the 14-percent contraction
estimated by a senior industry executive late last year as car companies mounted
a motorshow aimed in part at drumming up yearend sales.


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