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GM, Honda, and Toyota Boost U.S. Auto Sales in July

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On: Tue, Aug 6, 2013 at 7:53AM | By: Elizabeth Puckett


GM, Honda, and Toyota Boost U.S. Auto Sales in July

July was a hot month in the auto industry and the sales figures are the kind which make headlines. General Motors, the Honda Motor Company, and Toyota Motor Corporation are clear leaders in the auto industry for United States sales in July. This surge in sales is putting the auto industry on the path to having the best year of sales since 2007.

Last month, General Motors deliveries rose 16% with all of their brands—Chevrolet, Buick, GMC, and Cadillac—reporting big sales numbers in July. Meanwhile, Honda climbed 21 percent in sales, and Toyota increased by 17 percent. All three auto makers surpassed the Ford Motor Company in the month; Ford’s sales of light vehicles rose 11 percent in the month. The Chrysler Group LLC and Nissan Motor Company also gained 11 percent each.

There are many people driving older vehicles who are seem to be ready to upgrade and this is drving demand in the auto industry. Overall, in the United States, sales of cars and light trucks jumped 14 percent in the month of July—sales in July hit over 1.3 million.

The industry is on track to sales over 15.5 million cars and trucks this year -- the best yearly sales since 2007 when the industry moved more than 16.1 million vehicles.

Consumers are driving the industry to an eight-year high, but sales of fleet vehicles and rentals weren’t as strong. GM said sales to the government were down 90 percent from July 2012.

Truck sales are at the top of the list of all of the categories in private sales. People are buying trucks at a higher rate because the construction industry is flourishing and workers are ready to replace their aging work trucks.

Rock bottom interest rates, deals on new cars, and attractive incentives on lease vehicles have people flocking to dealerships to buy more—all this is combined with increased consumer confidence.

There’s also good reason to believe that this trend will continue through the second half of the year. As long as makers are able to keep up with demand, there is definitely a lot of money to be made in this industry right now.




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