The U.S. auto market remains a bright spot in the global automobile market as China's economy cools.
Sales figures released Tuesday show U.S. automakers gained strength in August, shaking off turbulent stock markets to stay on track for the industry's best annual sales since 2001 at 17 million this year.
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General Motors, the largest U.S. automaker posted a drop of 0.7 percent in sales, better than analysts' estimates.
Ford Motor, the second largest U.S. automaker by vehicle sales, jumped five percent, handily beating expectations as sales of its new F-150 pickup gained steam
Bob Lutz, former General Motors vice chairman, told CNBC's "Power Lunch" Tuesday why he believes American consumers continue to trade up to bigger, newer vehicles.