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Chicago Fed Letter, No. 179c, July 2002
Auto Experts Look Forward amid Concerns about Costs (Special Issue)
Despite the recession, the resilient consumer sector allowed light vehicle sales to finish 2001 at 17.0 million units versus the 16.3 million units forecast, making this the second strongest year on record. In the first quarter of 2002, light vehicle sales averaged 16.4 million units, again substantially above expectations. A recent Chicago Fed conference brought auto industry experts together to analyze the sector’s performance and growing concerns about costs.
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