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Transportation equipment industry

August Auto Sales Show Resilience Amid Industry Strife

Strategic Insights

— 1 min read

Despite a 36.4% decline in sales from General Motors, the automotive industry reported a 6.6% decrease in vehicle sales in August, a slight improvement from the previous year. Ford Motor Company bucked the trend with an 8.1% increase in sales, while nearly every major vehicle manufacturer experienced higher sales compared to the same month last year.

Key Takeaways:

  • General Motors' car and light-truck sales fell 36.4% in August, with sales totaling 271,177 vehicles, a 36.4% decline compared to August 1997.
  • Ford Motor Company reported an 8.1% increase in sales, with 323,599 cars and light trucks sold in August, an 8.1% increase compared to figures from August 1997.
  • Nearly every major vehicle manufacturer experienced higher sales in August compared to the same month last year, with some setting records, including Volkswagen A.G., which reported its best August in 17 years with a 71.3% increase in sales.
  • Toyota reported its best August ever for its Toyota and Lexus brands, up 10.9%, while Mercedes-Benz sales rose 75.8% and BMW sales increased by 5.2%.
  • Subaru of America had its best August since 1989, with a 9.3% increase in sales, and Mazda had its best month since March 1995, with sales up 37.8%.
  • The industry's seasonally adjusted selling rate dipped to 14.6 million cars and light trucks after running at a rate of more than 16 million for the last three months.

Statistics:

  • General Motors' August sales: 271,177 vehicles, down 36.4% compared to August 1997.
  • Ford Motor Company's August sales: 323,599 cars and light trucks, up 8.1% compared to figures from August 1997.
  • Industry-wide vehicle sales: 1,229,989, a decrease of 6.6% compared to the same month last year.
  • August sales compared to last year:

+ Toyota: up 10.9%

+ Mercedes-Benz: up 75.8%

+ BMW: up 5.2%

+ Volkswagen A.G.: up 71.3%

+ Volvo: up 8.5%

  • Automakers' sales for the year so far: General Motors trails 1997 sales by 5%, while Ford is running ahead of last year's pace.

Sources:

  • Associated Press
  • Wall Street Journal
  • Bloomberg News

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