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 Sales in August Top Estimates Despite Flat Ford Sales and a Small GM Decline

Stocks in this article: F GM

DETROIT ( TheStreet) -- Five years into a slow economic recovery, auto sales continue to show surprising strength, with Chrysler and Ford (F)  estimating that industry sales for August will gain 3%, despite widespread projections that sales would be flat compared with a year earlier.

Chrysler also said the seasonally adjusted annual sales rate for August is expected to reach 17.4 million units, the year's highest level, while Kelley Blue Book said new car transaction prices rose nearly 3%. GM (GM) said on Wednesday that full-year light vehicle sales are expected to be near the high-end of its January outlook, which was for sales of 16 million to 16.5 million.

Read More: It's No Coincidence, Stocks and Auto Sales Are Both Frothy

In August, Ford sales rose 0.4% to 222,174, while GM sales were down 1%. August had one fewer selling day in 2014 than it did in 2013. GM said its sales rose 2% when adjusted for selling days. In 2013, August was GM's best sales month of the year.  Chrysler's sales in August rose 20% and Nissan's  (NSANY) sales gained 11.5%.

Ford sales totaled 221,174 vehicles, the company's best August in eight years. "Both Fusion and Escape set records in August, each continuing on a strong pace toward 2014 being a best-ever sales year," said John Felice, Ford vice president, U.S. marketing, sales and service, in a prepared statement.

Sales of the F-Series pickup truck, the best-selling U.S. vehicle, fell 4.2% to 68,109 units. Fusion sales rose 19% to 29,452. Escape sales rose 9% to 28,996.

GM delivered 272,423 vehicles in August. Silverado sales gained 13% to 49,201. But Chevrolet sales fell 1% to 185,930, with Cruze, the top GM car, down 2% to 23,435. Buick sales fell 10% to 22,143 while Cadillac sales fell 18% to 16,650. Retail sales fell 4%, while fleet sales gained 9%.

GM said its incentive spending as a percentage of average transaction prices was 10.4%, the lowest of all domestic automakers by a significant margin.

"We see a strong fall selling season ahead for GM and the industry, which sets the stage for the launches of the Chevrolet Colorado and GMC Canyon," said Kurt McNeil, U.S. vice president of sales operations, in a prepared statement. "Car-buying fundamentals like employment and energy prices are in good shape, consumer confidence has reached a post-recession high and business investment is increasing."

Chrysler's sales last month rose to 198,379, the group's best August since 2002, as Jeep brand sales rose 49% to 68,766, the brand's best August ever. Sales of the Ram pickup truck rose 33% to 43,775, the vehicle's best August since 2003.

Nissan said August sales totaled 134,888 units, up 11.5% from the same month a year earlier and an August record. Nissan brand sales rose 15.3% to 125,224, also an August record.

 "August's industry sales results are looking even stronger than anticipated, which is a good sign for the industry, and Nissan dealers continued the good summer momentum by breaking the August record we set last year," said Fred Diaz, senior vice president for U.S. sales, marketing and operations, in a prepared statement.

Sales of Nissan's all-electric Leaf rose 32% to 3,186, the highest monthly total ever. Rogue sales rose 24% to 21,419, also the highest monthly total ever. Altima sales rose 4% to 32,153, the best August ever.

Read More: 5 Worst U.S. Airlines of All Time

Read More: 5 Most Beloved U.S. Airlines of All Time


Written by Ted Reed in Charlotte, N.C.
To contact this writer, click here.
Follow @tedreednc

At the time of publication, the author held no positions in any of the stocks mentioned. This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

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 17,618.62 +261.75 1.51%
S&P 500 2,043.63 +30.74 1.53%
NASDAQ 4,719.1310 +74.8190 1.61%

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