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Car sales still strong

March vehicle sales came in a bit less than expected (13.06 mil. vs. 13.25), but they are still up by a robust 11.4% relatively to year-ago sales, and have risen at a 25% annualized rate over the past six months. Since hitting their recession low in Feb. '09, vehicle sales have soared 40%, marking what is truly a V-shaped recovery.

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