Auto Sales End The Dog Days of Summer
9/4/2012
Auto sales for the month of August are rolling in, and for the most part, sales are strong. General Motors (GM), Ford (F), and Chrysler (FIATY.PK) all reported sales that topped expectations with growth of 10.1%, 12.6%, and 14.0%, respectively. General Motors saw growth across its product line with sales of Chevrolet vehicles, the company's largest brand, being up 11% and total Buick sales improving 12%. Total Cadillac sales grew 11%, while GMC sales rose just 3.7%. The Volt reported the strongest month on record; however, the demand is still at such a low point that the Company announced a shutdown of the main Volt plant from September 17 through October 12. Ford says that trucks were a big reason for the strength during the month, with trucks sales accounting for 11% of the total market. Toyota (TM), which is still recovering from the fallout from the earthquake and tsunami, saw sales increase 45.6% compared to the previous year. Despite Ford saying trucks were strong; it was the small fuel efficient vehicles that propelled sales for the month. The Ford Focus compact saw sales increased 35% year over year, while the Chrysler 200 and Chrysler 300 increased 10% and 65% respectively. The Dodge Dart also put in a strong month. Chrysler said its truck sales were up a strong 12%, while car sales were up 21%. Nissan (NSANY.PK) delivered growth of 7.6% as it rebounded quicker from the earthquake and tsunami last year. The big surprise for Nissan's month was the 24% growth in Infiniti sales.
Another positive sign for the industry is the increase in retail sales, which increased to 82% of total sales, up from 77% for the remainder of the year. Retail sales are much higher margin than fleet sales which are typically sold to government entities (think police departments) and rental car companies.
David Silver
More Articles by David Silver
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