Honda Motor Co., Toyota Motor Corp., the Volkswagen brand and the Detroit 3 posted solid sales gains for August, signaling the auto industry’s recovery remains on track despite sluggish economic growth and widespread consumer uncertainty. CLick below to find out more.
The VW brand led the way with a 63 percent jump, its 12th straight month of increases of at least 25 percent.
Honda Motor Co. reported August U.S. sales of 131,321 units, a gain of 60 percent from 2011, when it suffered from quake-related inventory shortages. Volume at the Honda brand jumped 58 percent to 115,675 units; Acura deliveries climbed 73 percent to 15,646 units.
Toyota also continued its recovery from an earthquake-hampered 2011 with a 46 percent rise.
Advances at General Motors, Ford Motor Co. and Chrysler Group ranged from 10 percent to 14 percent.
Chrysler and GM today forecast the seasonally adjusted annual sales rate for August will reach 14.6 million units — the highest since April 2008 and well above most analysts’ estimates.
Chrysler sales chief Reid Bigland attributed the company’s performance in part to an “incredibly resilient” climate for auto sales.
August sales at the VW brand surged to 41,011 as the automaker continued to benefit from redesigned models in key segments, notably small and mid-sized sedans.
Toyota’s 46 percent increase followed advances of 60 percent in June and 87 percent in May. The company will release additional details later today.
Chrysler, helped by a 21 percent gain in car deliveries and an 18 percent increase in Ram brand volume, produced a 14 percent increase.
