Car Sales Hit 15 Month High in August
This wasn't surprising considering the huge success of the "cash for clunkers" program.
What's surprising is that some car makers such as GM and Chrysler actually had a decrease in sales compared to last August.
This is bad news for car makers because now that "cash for clunkers" has ended, sales going forward are expected to be dismill. In fact, September sales may be the worst to come.
Ford was the big winner with an increase in sales of 17% compared to the same time last year. Honda and Toyota weren't far behind with sales increasing 15% and 11% respectively.
Chrysler sales were down nearly 24% while Chevrolet was down nearly 10%. GM and Chrysler weren't able to take advantage of the "cash for clunkers" program partly due to production problems stemming from their bankruptcies.
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- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid