Forecasters Predict Auto Sales Slump

Auto sales could fall in 2007 to their lowest in nearly a decade, the Wall Street Journal reported on Monday.

IRN, a Michigan market researcher, forecasts U.S. 2007 sales of 16.3 million light vehicles, the lowest since 1998. That would be a drop of 300,000, or 1.8 percent, from this year's expected sales of 16.6 million vehicles.

However, both GM and Toyota Motor Corp. forecast 2007 industry sales of 16.5 million cars and trucks, according to the WSJ.

But analysts at Bank of America, Wachovia Corp. and Citigroup expect a sharper decline, the WSJ says.

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