U.S. Car Sales Beat Industry Estimates for August

Car sales in the U.S. climbed 20% in August to 1.28 million units, its second-highest level this year. Last month’s sales volume put the industry on track for 14.5 million new vehicles this year.

General Motors Co., Ford Motor Co., and Chrysler saw a double-digit rise from August 2011 to beat industry estimates, while smaller domestic and foreign car companies also saw growth.
While online auto information provider Edmunds.com predicted a 6.4% increase for GM, the carmaker reported a 10% rise compared with August 2011 sales. Each of GM’s four brands saw higher retail sales, as well, led by a 25% increase for Chevrolet.
Ford sales grew 13%, which beat Edmunds.com’s estimate of 9.8%, while sales for Fiat-owned Chrysler increased 25%, up from an Edmunds estimate of 11.7%. Chrysler recorded its best August sales since 2007.
Meanwhile, Honda’s year-over-year sales jumped 60% in August. Toyota saw a rise of 46%, while rival Nissan Motor Co. reported an increase of 8%. Daimler AG’s Mercedes-Benz Cars division rose 4.5%.