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Auto Sales Bounce Back After Lackluster Winter

The auto industry bounced back in March after a lackluster winter, as demand for pickup trucks and sport-utility vehicles fueled sales.Low interest rates, as well as demand from the housing and energy sectors, contributed to U.S. auto sales that raced higher in 2013. However, over the first two months of 2014, record amounts of snow dragged down sales.Analysts expected sales to return to form during the spring, anticipating some pent-up demand from consumers who put off buying a car.Jack Nerad, Kelley Blue Book's executive editorial director and market analyst, said the better-than-expected results in March confirm that winter weather delayed sales.Car information provider Kelley Blue Book said the average transaction price for light vehicles in March increased 1.4% to $31,995. Prices were down 0.6% compared to February.Chrysler continued to lead the pack with a monthly gain of 13%, thanks to strong demand for trucks and the company's new Jeep Cherokee.The Auburn Hills, Mich.-based com...

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