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Credit unions improved their market share of the nation’s automotive financing in the third quarter, with a strong gain in new car loans, according to an Experian report released Thursday.

However, credit unions are building share in a shrinking market. Cox Automotive made the unusual move Thursday of lowering its monthly new car sales forecast only three days after its release. It said it now expects new cars were sold at a seasonally adjusted rate of 13 million vehicles per year in November, down from Monday’s forecast of 13.4 million SAAR for the month.

Jim DuPlessis

A journalist for decades.

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