New Car Sales In The U.S. Rise 6 Percent In August
Total auto sales were up 5.5 percent year-over-year to 1,582,675 units in August, fueled by heightened demand for pickup trucks and smaller SUVs, reported Michigan Live. For the Detroit Three, Chrysler Group easily had the most impressive results, selling 19.8 percent more vehicles on an annual basis last month. GM’s sales slid by 1.2 percent, ... Read More »
Total auto sales were up 5.5 percent year-over-year to 1,582,675 units in August, fueled by heightened demand for pickup trucks and smaller SUVs, reported Michigan Live.
For the Detroit Three, Chrysler Group easily had the most impressive results, selling 19.8 percent more vehicles on an annual basis last month. GM’s sales slid by 1.2 percent, while Ford’s results edged up 0.4 percent.
For other carmakers, Nissan posted an increase of 11.5 percent in sales, Toyota’s sales grew 6.3 percent and Honda’s sales were up 0.4 percent. Volkswagen’s sales were down 1.5 percent on an annual basis in August.
Analysts said looser lending standards for new cars have helped play a role in new car sales as of late, while the seasonally adjusted annualized pace of sales last month topped 17 million.
“August was once again a strong month for the automotive industry in terms of sales,” said Akshay Anand, an analyst with Kelley Blue Book. “Between rising incentive spend, higher subprime lending, and longer loan terms, there is certainly pause for concern and reason to think the massive growth should eventually slow down.”
More Industry

California Calling? What's Up With the State's New CARS Act?
Should auto dealers outside of California be concerned about its new price-transparency law? Yes, and you can guide them in the right direction.
Read More →
Tennessee Transaction Latest in Buy-Sell Flurry
Four stores move from a longtime local family business to one of the country’s biggest automotive groups as part of the industry’s continued consolidation.
Read More →
SUV Joins Safety Rankings
Thanks to a seat belt redesign, the Nissan Kicks has earned a Top Safety Pick award from the Insurance Institute for Highway Safety.
Read More →
Nebraska Rooftop Changes Hands
The Gregg Young Automotive Group has sold its second dealership to Janssen Auto Group, both in Plattsmouth, Neb.
Read More →
Penske Auto Group Deal a Record
The deal to take the dealership and transportation services company private sets a new pace for industry buy-sell transactions.
Read More →
War Toll a Damper on Used Auto Prices
Cox Automotive found wholesale depreciation to be elevated in September amid high fuel prices and this year's unusual hurricane season.
Read More →
Bridge the Maintenance Gap
With many drivers missing recommended maintenance, service departments offering transparency and efficiency have a better chance of reaching financially strained consumers.
Read More →
California Store Has New Owner
The longtime dealership in the northern part of the state is known for robust fleet sales and has served the state capital for 115 years.
Read More →
BMW Plant Pursues Cleaner Energy
BMW Group Plant Leipzig has utilized hydrogen to help power its production since 2013, but a new pipeline is planned to take it to another level.
Read More →
Auto Affordability Inches Up
The latest Cox Automotive and Moody’s Analytics index shows a slight increase in new-vehicle affordability despite high prices.
Read More →