This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Auto Industry a 'Bright Spot' as Ford Sales Up 14%, GM Up 10% (Update 2)

Stocks in this article: F GM TM

Updated with GM sales totals for August.

DETROIT -- ( TheStreet) -- Automakers are reporting strong August sales as the auto industry remains a bright spot in a mediocre economy.

Ford (F) said August sales gained 13%; GM (GM) said sales rose 10% and Chrysler reported a 14% gain. Toyota (TM) sales rose 46%.

"The auto industry has been a bright spot for the economy all year long and that will continue," GM economist Sue Yingzi Sue said Tuesday morning on a conference call with reporters. She said a revision by the Bureau of Economic Analysis enables a slightly higher estimate of 14.2 million to 14.3 million for the seasonally adjusted annualized sales rate.

Ford sales totaled 197,249, with retail sales up 19%. Sales of the Ford Escape compact utility vehicle rose 37% to 28,188. Fusion sales rose 21% to 21,690. F-Series sales rose 19% to 58,201. Lincoln sales rose 2% to 8,141, but Lincoln retail sales rose 21%. Fiesta sales fell 28% to 4,176.

Ken Czubay, Ford vice president, U.S. marketing, sales and service, said many customers visit the showroom to see the Fiesta, but end up buying a Focus.

GM said August sales totaled 240,520. Retail sales rose 11%, making August the best retail month of the year, while fleet sales rose 6%. All four GM brands posted higher total and retail sales, with Chevrolet up 11%, Cadillac up 11%, Buick up 12% and GMC up 4%.

Buick had its best retail sales month of the year and its best August since 2006. The brand is tracking to its best retail sale year since 2006.

Industry sales growth is being moved by pent-up demand, Sue said, noting, "People have been holding off new purchases for such a long time, since 2008 until now. Even though the economic news is very mediocre, very slow, and very moderate, we see improvement over all." In particular, job growth is continuing and consumer confidence is improving, she said.

GM said that four vehicles -- Cruze, Spark, Sonic and Volt -- set monthly sales records in August, helped by advertising during the Olympics. Cruze sold 25,975 units, Spark sold 2,630, Sonic sold 8,703 and Volt sold 2,831.

Chrysler, the first automaker to report Tuesday, said August sales rose 14% to 130,120 units, its best August total since 2007. Dodge brand sales rose 13% to 47,348, while Jeep brand sales rose 5% to 42,839. Sales of the Dodge Ram pickup truck, the group's best-selling vehicle, rose 19% to 25,215. Sales of the new Dodge Dart totaled 3,045. Volkswagen said August sales rose 63% to 41,011.

>To contact the writer of this article, click here: Ted Reed

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs