CNN Money reports:
NEW YORK (CNNMoney.com) -- Major automakers posted double-digit gains in U.S. sales in April compared to the battered sales of a year ago, but the overall pace of sales fell short of March results.
Industrywide U.S. sales came in just short of 1 million vehicles, up 20% from a year ago, according to sales tracker Autodata, but a bit shy of forecasts of between a 21% to 23% gain. And sales were down 8% from March.
The sales were another sign that conditions for the industry have improved significantly from the near apocalypse of a year ago, but that the recovery is still modest at best.
"It's kind of a placeholder month," said Michelle Krebs, senior analyst with sales tracker Edmunds.com. "Things are getting better but slowly, slowly, slowly. I think the consumer is being very careful on purchases...
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