August Sales Give Most a One Time Pop
As expected, several auto makers posted their best monthly salesof the year as the industry report August results. The sales pace is expected to be close to 15 million thanks to Cash for Clunkersbringing in throngs of buyers.
But for individual auto makers the results were wildly different.Ford: Up 21.5%
The blue oval rang up huge sales in Cash for Clunkers thanks to the Focus, Fusion, and Edge as well as one the best clunkers ad campaigns. It's the second straight month Ford reported sales increases.
Toyota: Up 10.5%
Toyota won the Clunkers sales title and that's why the Japanese auto maker reported its first sales increase any several months.
GM: down 17.1%
The drop in August was slightly more then Wall Street was predicting, but GM believes last month was not that bad. The company points out it had an exceptionally strong month in August of '08, so any comparison won't be easy.
Chrysler: down 12.2%
Chrysler paid the price for not having enough fuel efficient models on lots due to assembly lines being shut down in May as the company worked its way through bankruptcy. Despite the extremely limited inventory, Chrysler did boost sales by 5% compared to July.
Honda: up 14.2%
The Japanese auto maker had three cars in the Clunker top ten so it's not surprising the company posted one of its best monthly sales totals in some time.
Hyundai: up 47%
The Korean auto maker, like all the Asian brands, benefited from the Clunkers program pushing fuel efficient models. Sales in August jumped 47%.
(*Note: reported results are adjusted*)
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