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Automakers report sales up double-digits in August » Knoxville News Sentinel
DETROIT — Toyota, Ford, Nissan, Chrysler and General Motors all reported double-digit U.S. sales gains last month as strong sales of pickup trucks and small cars led the industry toward its best month in six years.
Toyota posted the biggest gain, with sales up nearly 23 percent over August of last year. Nissan sales were up 22 percent, the best August in company history. At General Motors, sales were up almost 15 percent for the company’s best month since September of 2008. Chrysler and Ford each reported 12 percent gains.
It was Chrysler’s best August in six years, while August was Toyota’s best month in more than five years. All major automakers report sales numbers Wednesday.
Industry analysts say August could be the best sales month since May of 2007, when $3 a gallon gasoline set off panic buying of fuel-thrifty vehicles. LMC Automotive, an industry consulting firm, is predicting that total U.S. sales last month were close to 1.5 million, about 12 percent higher than a year ago.
In May of 2007, automakers sold more than 1.56 million cars and trucks, due largely to a boom in small cars as the nationwide average for gas topped $3 a gallon for the first time. This time, small cars did well, but weren’t the only big sellers. Analysts say consumers are buying everything from tiny Honda Fits to big pickup trucks as an improving economy keeps pushing auto sales higher.
“The auto industry continues to be a bright spot in the economic recovery,” Bill Fay, the Toyota division’s group vice president, said in a statement. “August capped a great summer for new vehicle sales.”
Chrysler and GM are predicting that total U.S. sales in August ran at an annual rate above 16 million, a pace last seen before the Great Recession.
The strong numbers are more proof that businesses are gaining confidence and buying trucks to replace their aging fleets.
DETROIT — Toyota, Ford, Nissan, Chrysler and General Motors all reported double-digit U.S. sales gains last month as strong sales of pickup trucks and small cars led the industry toward its best month in six years.
Toyota posted the biggest gain, with sales up nearly 23 percent over August of last year. Nissan sales were up 22 percent, the best August in company history. At General Motors, sales were up almost 15 percent for the company’s best month since September of 2008. Chrysler and Ford each reported 12 percent gains.
It was Chrysler’s best August in six years, while August was Toyota’s best month in more than five years. All major automakers report sales numbers Wednesday.
Industry analysts say August could be the best sales month since May of 2007, when $3 a gallon gasoline set off panic buying of fuel-thrifty vehicles. LMC Automotive, an industry consulting firm, is predicting that total U.S. sales last month were close to 1.5 million, about 12 percent higher than a year ago.
In May of 2007, automakers sold more than 1.56 million cars and trucks, due largely to a boom in small cars as the nationwide average for gas topped $3 a gallon for the first time. This time, small cars did well, but weren’t the only big sellers. Analysts say consumers are buying everything from tiny Honda Fits to big pickup trucks as an improving economy keeps pushing auto sales higher.
“The auto industry continues to be a bright spot in the economic recovery,” Bill Fay, the Toyota division’s group vice president, said in a statement. “August capped a great summer for new vehicle sales.”
Chrysler and GM are predicting that total U.S. sales in August ran at an annual rate above 16 million, a pace last seen before the Great Recession.
The strong numbers are more proof that businesses are gaining confidence and buying trucks to replace their aging fleets.