Auto sales slump grew in late October
Domestic car sales of the Big Three US automakers fell 13 percent in late October from year-ago levels, reflecting sluggish demand in the key industry. Sales for all of October were down 7 percent, falling to 640,250 from 687,260 in 1979. Industry analysts said that although there were some encouraging signs, the industry was still feeling the effect of the recession and that a full recovery was not yet in sight. They said the recent upturn in interest rates and a shortage of some of the more popular car models contributed to the latest sales decline.