The Detroit 3 posted double-digit U.S. sales gains in August in the face of forecasts that industry demand would cool. VW, Nissan also rise, but Honda and Subaru fall. Hit the jump to read the rest of the story.
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General Motors had an 18 percent gain and Ford Motor Co. was up 11 percent — their biggest jumps since April. Chrysler Group, with a 28 percent rise, now has had increases of 20 percent or more in six of the year’s first eight months.
Volkswagen brand was up 10 percent and Nissan North America rose 19 percent, despite a drop at Infiniti.
American Honda fell 24 percent, continuing to drag down the industry as it battles vehicle shortages stemming from the March earthquake in Japan. Subaru, which has also been crimped by tight supplies, posted a 6 percent decline, its fourth straight monthly drop.
Analysts said August, like the past few months, would fall short of the sales pace set at the start of the year. They cited a decline in consumer confidence and dimming prospects for strong economic growth. And Hurricane Irene paralyzed most of the Eastern seaboard last weekend, leaving flooding and power outages in its wake.
“There’s no doubt the storm affected August auto sales, but for GM, it was only about a thousand units and those can be recouped in September,” said Don Johnson, GM’s vice president of U.S. sales operations, in a conference call today.
