U.S. April auto sales on pace for monthly record; fear sales peaking

U.S. auto sales in April were on course to set a new high for the month on Tuesday, with the industry also on pace to top the annual record set last year. General Motors Co estimated the seasonally adjusted annualized rate for April auto sales will be 17.6 million vehicles, more than the 17.5 million vehicles expected by analysts polled by Reuters. Many Wall Street analysts say the U.S. auto market is close to a cyclical peak and will begin to weaken.