Domestic car sales jumped in August as the “Big Three” U.S. automakers each reported better-than-expected numbers in what is shaping up to be one of the best months in years.
Sales at Chrysler Group LLC soared 14.1 percent in August compared with the same month a year ago, while Ford Motor Co. reported a 12.6 percent rise and General Motors Co. sales rose 10.1 percent.
Better access to financing and some signs of improvement in the labor market are likely factors in the stronger sales, analysts said. Fuel efficient models were popular with buyers during the month amid rising gas prices.
Ford Escape compact utility sales totaled 28,188 vehicles – a 37 percent increase versus a year ago and its best August ever. Fusion sales of 21,690 vehicles up 21 percent, delivering all-time best August sales, while Focus sales increased 35 percent with 19,073 vehicles sold.
“As fuel prices rose again during August, we saw growing numbers of people gravitate toward our fuel-efficient vehicles – cars, utilities and trucks,” said Ken Czubay, Ford vice president of U.S. marketing, sales and service. “Customers increasingly value savings at the pump, and Ford is answering the call with a full family of vehicles with leading fuel efficiency and the power to choose which vehicle best meets their needs.”
Sales of Chevrolet vehicles, GM’s largest brand, were up 11 percent, and total Buick sales improved 12 percent. Total Cadillac sales grew 11 percent.
Chrysler reported broad growth across its brands.
