Citi Investment Research & Analysis has cut its forecast for US market new vehicle as it expects demand to slow.
The bank’s forecasting division also pared its 2012 and 2013 earnings estimates for General Motors and Ford Motor Company.
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Citi analyst Itay Michaeli shaved his 2012 sales estimate to 14.1 million cars and trucks from 14.3 million. His forecast for next year has come down from 15 million to 14.5 million due to a slowdown in US economic growth.
