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David A. Stockman is the ultimate Washington insider turned iconoclast. He began his career in Washington as a young man and quickly rose through the ranks of the Republican Party to become the Director of the Office of Management and Budget under President ... more

Auto Sales Tumble After Car Makers Slash Cash On the Hood

Date: Thursday, August 2, 2018 10:43 AM EST

Today, we may have found the dynamo that drove purchases to a plateau of between 17 and 18 million units over the past three years: pervasive dealer discounts and incentives.

Almost all major manufacturers reported a sharp drop in U.S. deliveries for July, led by a 15% plunge at Nissan Motor. The reason: for the first time in 55 months, the auto industry - perhaps due to concerns about the impact of auto tariffs - cut back spending on incentives, snapping a streak of monthly consecutive increases that began 4 1/2 years ago, according to J.D Power.

Read more here.

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