August Auto Sales Continue to Surge
DETROIT (AP) — Most automakers are reporting stronger-than-expected U.S. sales for August.
Chrysler and Nissan led the way with double-digit increases, while Toyota reports sales were up 6 percent. Chrysler's sales leaped 20 percent as the Jeep brand led the automaker to its best August in a dozen years. Nissan reported nearly a 12 percent increase.
Ford and General Motors exceeded analysts' expectations, though Ford sales rose just 0.4 percent, and GM posted a 1.2 percent decrease. Still, GM's sales appear to be holding up despite safety recalls involving 29 million vehicles for a variety of problems.
Volkswagen continues to struggle with sales off almost 13 percent from a year ago.
Trucks and crossover SUVs led most automakers, continuing a trend away from cars. Crossover SUVs generally are built on car underpinnings, so they're more efficient and maneuverable than the older truck-based SUVs. Many get over 30 mpg on the highway.