(PRWEB) September 08, 2012
According to Autodata Corp., a leading provider of automotive content and research, new car sales rise due to U.S. consumers purchasing 1.28 million cars and light trucks in August. The new car sales rise resulted in a 20 percent increase in vehicle sales over August 2011.
Autodata's figures were included in a story recently published by the Wall Street Journal regarding new car sales rise in August.
Despite a stagnant job market, volatile gas prices and a shaky economy, consumers decided to exchange their used cars for new models. Autodata also said that the new car sales rise boosted the annualized sales pace of new cars and trucks to 14.52 million vehicles.
The last time the auto industry saw new car sales rise this high was in August 2009, when the federal government offered its "Cash 4 Clunkers" incentive program.
Honda Motor Corp. and Toyota Motor Corp. saw more new car sales rise than other automobile manufacturers. Both Japanese automakers were able to reverse their sales slump that lingered after the earthquake and tsunami that hit Japan in March 2011. The natural disaster left Honda and Toyota without vehicles to sell. According to Autodata, Toyota sold 188,520 light trucks, a 46 percent increase over the August 2011 figures. Honda sold 60 percent more, or 131,321 vehicles, over last year's numbers.
Al Castignetti, Nissan Motor Company’s U.S. sales chief, told the Wall Street Journal that the turnaround of Honda and Toyota is "driving the market.” Nissan also saw new car sales rise. In the month of August, Nissan sold 98,515 vehicles, an 8 percent increase over last year's figures.
Domestic automakers, GM, Ford and Chrysler were not far behind in seeing new car sales rise. Sales were up at Ford and Chrysler due to consumers wanting more pickup trucks than cars. Overall, Chrysler reported selling 148,472 vehicles, a 14 percent increase. Helping to boost Chrysler's total was the Ram pickup truck. Sales of the truck rose 19 percent. Also rising 19 percent were sales of Ford's F-series pickup trucks. Ford sold 196,749 vehicles, a 13 percent increase over the August 2011 sales report.
GM saw more demand for its small cars than for its trucks. Still, GM sold 240,520 automobiles, a 10 percent increase over last year's totals. While sales of the Chevy Silverado and GMC Sierra, GM's two pickup trucks, were slow, the sale of GM's small cars made up for it.
Hyundai Motor Co., based in South Korea, saw tougher competition from Toyota and Honda this year, the report said. While Hyundai’s plants are still in production, the Wall Street Journal reported that the company cannot keep enough cars and sport-utility vehicles on dealerships’ lots. Still, Hyundai saw new car sales rise 4 percent over last year's figures. Hyundai sold 61,099 vehicles.
One company, BMW, did not see new car sales rise. BMW posted declines in sales over last year's figures, according to Autodata.
In a statement regarding the drop in sales, Ludwig Willisch, president of BMW North America, explained that new BMW-brand vehicles have not been available which resulted in tight inventories. Vehicle sales were bolstered in July by a special promotional program. In August, BMW only sold 16,835 vehicles, a 19 percent decline over the August 2011 figures.