U.S. car sales are stronger than a year ago, but rising interest rates could hit demand

U.S. auto sales are expected to be stronger than a year ago, but set to decline compared with April as concerns simmer about the U.S. economy and whether people will delay or forgo buying new cars amid rising interest rates and higher car prices.

Cox Automotive has forecast the annual new-vehicle sales pace in May to be near 14.9 million, up 2.3 million from last May’s 12.6 million pace but down from April’s 15.9 million level.

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