Auto Sales Heat Up in August on Strong Gains From Ford, Chrysler

Auto sales in August were unexpectedly strong, with Ford and Chrysler handily beating analysts' expectations. Ford reported sales climbed 0.4% to 222,174 vehicles, making it the best August sales in eight years. Chrysler saw a 20% year-over-year gain, earning its best August sales in twelve years. Although General Motors posted a 1.2% sales decline last month, Kurt McNeil, GM's vice president of U.S. sales operations, predicted a strong fall selling season ahead. With 70% of sales reporting, Barclays analyst Brian Johnson said the August seasonally adjusted annual rate is tracking 17.1 million, ahead of the 16.6 million consensus.