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Record auto sales are holiday red flag
Retailers were already leery about the outlook for consumer spending this holiday season and reports Wednesday of record auto sales in August only add to the concern.
Both Walmart and Target reported disappointing second quarter sales and tempered their outlook for the full year. Conversely, car salespeople across the country were clinking champagne glasses and cashing commission checks as their employers, everyone from Mazda to Honda to Porsche and Ford, said August was a record month.