Major Automakers Report Double-digit Growths In August U.S. Sales

(RTTNews) - Major automakers on Wednesday reported double digit growths in U.S. vehicle sales for the month of August, as strong consumer confidence helped boost car sales and an improving economy as well as a recovery in the housing market facilitated solid pick-up sales. General Motors Co. (GM) and Japanese automaker Toyota Motor Corp. (TM) saw their August U.S. sales up 14.7% and 22.8%, respectively, while Ford Motor Co. (F) and Chrysler Group LLC reported 12.2% and 12% sales growth, respectively.

GM, the largest U.S. automaker, said that its August U.S. sales rose 14.7% to 275,847 vehicles from 240,520 vehicles in the same month last year.

There were 28 selling days for August 2013, compared to 27 for last year.

GM's August sales were the highest of 2013 and the best since September 2008. The automaker said its retail sales increased 22%, while fleet sales fell 9% for the month.

For August, GM's passenger car sales rose 8%, while crossovers sales surged 34% from a year earlier. Full-size pickup sales were up 15% and large SUV sales were up 29%.

All of GM's four brands reported double-digit sales growths. Chevrolet sales rose 10.4% to 187,740 units, while GMC sales grew 14.2% to 43,202 units, Cardillac sales surged 37.8% to 20,255 units and Buick sales increased 36.9% to 24,650 units. All four brands also posted double-digit retail sales growths.

"The second half of 2013 is off to a very solid start for GM and our model-year change over and new product launches are going smoothly," said Kurt McNeil, vice president, U.S. sales operations. "We have a lot of momentum and we feel good about the direction of the U.S. economy as we prepare to launch even more new products"

Dearborn, Michigan-based Ford said it sold 221,270 vehicles in the U.S. in August, up 12.2% from 197,249 vehicles sold in the same month last year. This marks Ford's best July sales since 2006. For July, Ford had reported an 11.4% rise in U.S. vehicles sales.

Ford's car sales surged 17.5% year-over-year to 73,630 units in August and truck sales for the month rose 18.4% to 84,537 units, while utility vehicle sales increased fell 0.2% to 63,103 units.

Ford's August U.S. retail sales increased 20%, the best monthly retail performance since 2006.

"Producing more Fusions at Flat Rock Assembly with its 1,400 new workers is a welcome opportunity, as Fusion showed great strength in August," said Ken Czubay, Ford vice president, U.S. marketing, sales and service. "Small cars and hybrids continue to outpace the market in the coastal regions of the U.S., with Ford brand retail small car sales growing at more than three times the rate of the U.S. small car industry."

Fusion had its best-ever August sales with 24,653 vehicles sold, up 13.7% from a year earlier. Fiesta sales surged 61.5% from last year, its best August sales ever.

Sales of Ford's F-Series truck, America's best-selling truck for 36 years in a row and America's best-selling vehicle, car or truck, for 31 straight years, rose 22.2% to 71,115 units in August, its 25th straight month of sales increases.

Ford was less ravaged by the recession than most of its peers. The company also did not have to restructure with federal assistance. The automaker has reported a profit for each of its last sixteen quarters. The company has also reinstated its quarterly stock dividend.

Chrysler Group LLC, majority-owned by Italian carmaker Fiat SpA (FIATY.PK), reported U.S. sales of 165,552 vehicles for August 2013, a 12% increase compared to sales of 148,472 vehicles in August 2012. This marks the 41th consecutive month of year-over-year sales gains for Chrysler.

Chrysler's total truck sales for the month were up 12%, while total car sales were up 11%. The Chrysler, Jeep, Dodge, Ram Truck and FIAT brands each posted year-over-year sales gains in August compared with the same month a year ago.

Toyota Motor Sales, U.S.A., Inc., a unit of Japan's Toyota Motor Corp. (TM), said its August sales rose 22.8% to 231,537 units from 188,520 units in the same month last year. Toyota division sales increased 22.8% to 201,745 units, while Lexus division sales grew 22.9% to 29, 792 units.

Among other automakers reporting U.S. vehicle sales Wednesday, Nissan North America Inc., a unit of Nissan Motor Co. Ltd. (NSANY.PK), reported August sales of 120,498 vehicles, up 22.3% over 98,515 vehicles in the same period last year. Nissan Division sales grew 24.3% to 108,614 units, while sales of Infiniti vehicles grew 6.5% to 11,884 units.

Volkswagen of America Inc., a unit of Volkswagen AG (VOW.BE, VLKAF.PK, VKW.L) said that it has sold 40,342 vehicles in August, down 1.6% from 41,011 Vehicles in the same month last year.

GM shares are currently trading at $35.63, up $1.49 or 4.36%, while Ford shares are currently trading at $16.93, up 59 cents or 3.59%.