The car sales in the month of August across the U.S. have been very promising. It has exceeded the expectations of many auto makers. The better financial incentives, lower fuel prices and optimization of the economy are some of the factors that have contributed to the boost in the sales of cars and trucks in the month of August. This is the fastest pace of sales seen in the auto industry in the last ten years.
The annual rate of sales of the light vehicles is now pegged at 17.8 million when compared to just 17.3 million last year. This has been the highest seasonally adjusted annual sales rate of light vehicles since July 2005. The adjusted sales hovered around the 17 million mark for the past four months, which includes August month.
The sales of the total light vehicles in the month of august have seen a slight dip and are at 1.57 million from 1.58 million registered in 2014. The dip can be attributed to fewer working days in august 2015 than in 2014 and also the Labor Day weekend sales that came up in august 2014. Five of the top 10 car sellers in the United States have reported a decline in the sales of their cars in August when compared to the same month last year.
The number two car seller in the U.S., Ford Motors, reported a sales increase of 5.6% in august 2015. The revamped F-150 pickup is the best seller in August and the demand for this vehicle is sky high. Fiat Chrysler Automobiles reported a 1.7% sales increase this month when compared to last year’s corresponding sale and a total of 201,672 vehicles were sold by the company.
The sales of Japanese auto giants Toyota Motor Corp and Nissan Motors saw a decline in the sales by 9% and 1% respectively. Honda Motor also hinted at a 7% decline in sales in August 2015.
The German luxury car manufacturers enjoyed a sales gain in August. Mercedes Benz topped the sales chart with a 4.8 % gain from 28,373 car sales. BMW was the next German luxury car manufacturer and it posted a 2%$ sales boost by selling 27,755 units. Volkswagen’s Audi brand sales rose by 10% and it sold 18,794 units.
Despite suffering the worst stock market drop in the past four years in late August, the sales of the car were not hit by the slowdown of the Chinese economy. The footfalls in the dealerships have increased immensely in August and this helped the industry to record one of its best sales in 15 years.