August Car Sales Strong Despite Loss of Labor Day Contracts!
US new vehicle sales steamrolled analyst predictions, that losing Labor Day action in September would cause a significant decline in August.
In fact the overall monthly tally was even with 2014 and the annualized sales rate is still the best in a decade.
Ford saw a welcome 4.7% increase in F-150 pick-up sales, which had been stalled since the introduction of its new aluminum body, carrying the company to a healthy 5.6% overall sales boost. Chevy Silverado sales jumped 11.7% and RAM Trucks turned in a 3.5% increase which helped Fiat Chrysler Automotive defy predictions that it would have its first down sales month in 5 years, closing out August 1.7% ahead.
And as the Light Truck segment surged 8.6%, cars plunged 10.3% weighted down by a major slide in demand for sedans in favor of small crossover SUVs and a crop of hot little hatchbacks. While South Korean power players Kia and Hyundai both saw healthy sales bumps, leading Japanese car makers Toyota and Honda slid 8.8% and 6.9% respectively. Nissan stayed essentially flat while locally headquartered Subaru led the Japanese pack with a 4.9% increase.