After falling as far as 5.5% below same-month 2017 in June, U.S. light-vehicle inventory rose above the year-ago level in October for the first time since September of last year. Inventory levels were expected to narrow the gap with year-ago because some dealer lots in Q4-2017 were somewhat drained of stocks when sales were goosed by replacement demand created by the number of vehicles scrapped in the prior quarter due to two severe hurricanes in the southern U.S. However, especially with ...

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