The first look at the U.S. light-vehicle market for March indicates the song remains the same. Sales continued to weaken on a year-over-year basis in February while inventory continued to rise, with the takeaway that if demand does not make a sharp upturn there will have to be some paring of dealer stocks through a combination of higher retail spiffs or production cuts. Inventory ended February at 4.06 million units, 2.1% above like-2018 and close to the month’s all-time high of 4.07 ...

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