Consumer Biz Recap: August STRONG Month For Automobile Sales
The month of August saw solid sales for automakers and dealers, led by the small fuel-efficient models, all of which kept the industry set on a 14.5 million annual sales rate. Two of the top American companies posted broad gains from differing factors: General Motors Company (NYSE:GM) hit double-digit growth from fleet buyers, and Ford Motor Company (NYSE:F) achieved its gains partly due to its recent plan to increase output. Japanese firms Toyota Motor Corporation (NYSE:TM), and Honda Motor Co., Ltd. (NYSE:HMC) remain impacted by residuals from last year’s earthquake, but sales perked up from consumers searching for fuel-efficient models and encouraged by better financing terms, who came back into the market for imports. The recent (NYSE:RE)debut of the Dodge Dart gave Chrysler (FIATY.PK) a shot in the arm, and many of the vehicles are still to arrive at dealer showrooms.
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