U.S. auto sales rose slightly in October, hit by rising interest rates and higher vehicle prices, and No.2 carmaker Ford Motor Co. (F.N) warned of slipping consumer confidence, indicating sales volumes would continue to moderate in 2018.
Ford on Thursday reported a 5 percent decline in sales for its pickup trucks, while overall sales fell 3.9 percent to 192,616 units in October hurt by lower passenger car demand.
Ford said consumers are relatively confident about economic conditions, albeit slightly less so than in September, citing data for October from University of Michigan’s consumer sentiment index, adding payments have crept up with rising interests rates.
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