US auto sales rate highest in a decade: Report - CNBC
auto industry powered ahead in August to hit 17. 81 million in total sales, marking the highest run rate since July 2005 according to Autodata, as consumers continued to show their penchant for pickup trucks and SUVs. The six largest automakers in the U. S. market all beat the sales forecasts of industry analysts, with Toyota, Honda, Nissan and GM reporting declines that were not as severe as expected. "All of the economic fundamentals that we look at, including job growth, disposable income and fuel prices, are in good shape and that should keep sales strong," said Kurt McNeil, head of U. S. sales for General Motors. August industry sales were expected to be down largely based on a quirk in the calendar that put results over the U. S. Labor Day holiday weekend into September sales. Although Labor Day is always in September, the U. S. auto industry usually counts the sales in August results. Ford SUV and truck sales both rose about 12 percent while car sedan sales fell 7 percent. GM's Chevrolet Silverado and GMC Sierra pickup trucks together outsold Ford's F-Series, at more than 76,000. Silverado sales rose 11. 7 percent and Sierra sales were up 7 percent. Source: www.cnbc.com
