US SALES: July SAAR rate best since April

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Forecasts of US light vehicle sales for July were marked by periods of optimism bracketed by bouts of pessimism. The economy and political wrangling over the debt ceiling in Washington had an effect, as did lingering supply and production problems. Nonetheless, the automakers managed to eke out a small improvement last month, not only over July 2010, but over June 2011, as well.