Automakers Report Mixed U.S. Sales In August

(RTTNews) - Automakers reported some mixed U.S. sales for August, marked by fewer working days and a delayed Labor Day, even as the month was largely bullish, spurred by lower interest rates, cheaper gas, and some strong employment data that buoyed consumer confidence.

General Motors Co (GM) said its U.S. sales in August edged down 0.7 percent from a year ago, while Ford Motor Co (F) gained 5.4 percent and Fiat Chrysler Automobiles NV was up 2 percent. Toyota sales fell 8.8 percent.

Overall, the results were not bad, considering a month rocked by stock-market upheavals and concern over growth in China, where automakers, other industries and investors have their focus as to how things will finally pan out.

GM reported August sales of 270,480 units, a slight drop from 272,423 units in the prior year. There were 26 selling days in August 2015, compared with 27 selling days last year.

Cadillac brand sales fell 5.5 percent in August, Chevrolet slid 1.5 percent while Buick sales edged up 0.6 percent. The company said overall there was demand for crossovers and pickups.

Automakers, for the first time since 2012, will include Labor Day sales in September results, as against the usual practice of recording it in August. This year, Labor Day falls on September 7.

"All of the economic fundamentals that we look at, including job growth, disposable income and fuel prices, are in good shape and that should keep sales strong," said Kurt McNeil, head of U.S. sales for General Motors.

Ford said its August U.S. sales rose 5.4 percent to 234,237 units, on demand for new cars, SUVs and trucks.

Lincoln sales increased 6 percent from a year ago - the luxury brand's best August results in seven years. Ford Brand sales were up 5.4 percent. The F-series truck brand logged its best sales month of the year with a 4.7 percent increase, Ford said.

FCA US LLC, owned by Italy-based Fiat Chrysler Automobiles NV (FCAU), reported August U.S. sales of 201,672 units, up 2 percent.

The automaker said its car sales decreased 10 percent, while truck sales increased 5 percent. Growth was attributable to Jeep, Fiat, and Ram Truck brands.

Meanwhile, Toyota said its U.S. sales in August dropped 8.8 percent from a year ago to 224,381 units. Toyota division sales fell 10.5 percent, while Lexus unit rose 2.1 percent.

Sales weakened across brands such as Prius, Camry as well as Rav4 and Tundra, while Highlander and Tacoma gained, Toyota said.

Nissan Group (NSANF.PK, NSANY.PK)'s August U.S. sales declined 0.8 percent from a year ago to 133,351 units. Its car sales declined 6.3 percent, while truck sales rose 7.9 percent.