Ford top car and truck seller in Canada for August
Wednesday, September 1, 2010 at 03:05PM Best August sales in 20 years
Oakville, Ont.-based Ford Canada said Wednesday its August auto sales rose eight per cent from the same month a year earlier, to 24,034 cars and light trucks.
That made it Ford's best August in 20 years and kept the company in top place in Canada.
During the month, Ford sold 5,858 cars, a 19 per cent increase from August 2009, and 18,176 trucks, a five per cent increase.
Ford's sales for all of 2010 rose to 183,999, up 17 per cent from the first eight months of 2009.
Chrysler Canada sold 16,144 vehicles, up 12 per cent over the same month last year.
Honda Canada said combined sales of its Honda and luxury Acura divisions totalled 12,914, a six per cent increase.
Hyundai Auto Canada Corp. reported its sales reached 11,403, an increase of 9.5 per cent over the same month last year and its 19th month of year-over-year sales gains.
U.S. sales fall
In the U.S., the picture was worse, with overall industry sales expected to fall, especially since last year's August sales were boosted by the government's cash-for-clunkers rebates.
General Motors said its U.S. sales of cars and light trucks totalled 185,105 in August, a 25 per cent from 245,550 in August 2009 as the shaky economy discouraged customers from buying.
Ford's sales fell 11 per cent to 157,327 from 176,000 a year ago.
Chrysler Group sold 99,611, or seven per cent more, vehicles. With a lineup that includes fewer small cars, its sales last year were less affected the clunkers rebates.
The drop for GM and Ford is a worrisome sign because August is typically a strong month. Analysts say total industry sales could fall below one million new vehicles, making it the worst August in 27 years.
American auto sales in July were a strong point for the economy, helping to boost overall consumer spending numbers.
Recovery too weak
"There hasn't been enough horsepower behind the recovery to motivate consumers to regain their confidence and purchase vehicles at a higher rate," says Jeff Schuster, executive director of global forecasting for J.D. Power and Associates.
Also, potential buyers are having a harder time getting big discounts.
Automakers have been reluctant to increase incentives such as rebates and low-interest financing. Most car companies are making money at lower sales levels because they've cut production. They no longer need to offer cars at below break-even prices just to move them off lots.
But high unemployment and a declining stock market have made people afraid to spend money on big-ticket items, industry analysts said.
Subaru's sales fell 22 per cent in August. It was unable to match big sales last year of its smaller Impreza and the Legacy models. Sales fell 7.2 per cent from July.
Small cars sold well last August because of the $2.8 billion clunkers program, which ran from July 27 to Aug. 25. It gave government rebates to people who bought new vehicles with better gas mileage than their old vehicles.
From CBC News
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