USA :Interest Rate Hike to Have Only Limited Effect on Auto Sales, NADA Says
The following statement regarding the move by the Federal Reserve to raise interest rates was issued today the National Automobile Dealers Association's Chief Economist Paul Taylor: "Today's interest rate hike of one-half a percent in short-term rates will only modestly affect overall auto sales. While customers financing their vehicles through banks and credit unions will see slightly higher rates, auto company finance entities will likely continue to offer attractive below-market rates (from 2-8 percent).
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