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Report points to smaller US auto market by 2040

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The U.S. auto market will be smaller by 2040, according to analysts at consulting firm Bain & Co.

Sales are predicted to fall by more than 2 million units by 2040.

Mark Gottfredson, a partner at Bain & Co., said the numbers suggest an auto market where companies have to compete for a smaller share of customers.

Read more from CNBC.

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