Auto Sales Climb In July | Auto Finance News | Auto Finance News

Auto Sales Climb In July

canstockphoto4340301Year-over-year new-car sales grew 9% in July to 1.4 million units, with Subaru showing a 27% increase, and Chrysler not far behind with a 20% bump in sales. Other automakers saw increases, such as Toyota (up 12%), Nissan (up 11%), and Ford (up 10%). Even General Motors, which announced more than 700,000 vehicle recalls in July alone, posted a 9% rise in sales.

A handful of companies reported lower year-over-year sales volume. Honda, recorded a 4% decrease because of falling demand for Acura models; Volkswagen’s 6% drop in July marked the automaker’s 16th straight month of sales declines in the U.S. The SAAR hit 16.5 million in July, up from 15.8 million a year earlier, but down from the 17-million rate reached in June. The SAAR has topped 16 million units every month since March.

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