August car sales: Ford and Chrysler up, GM down

Sep 04, 2014

August sales are in, and things haven’t changed too much from last year.

It was an up and down sales month for the Big Three US automakers, with Chrysler and Ford seeing gains while General Motors saw retail sales decline, though fleet sales made up some of the ground. All told, a total of 1.58 million light vehicles were sold in August, according to data from Wards Auto. This brings the year-to-date total to 11.3 million units, a 5% increase over 2013.

Chrysler was the first of the major auto retailers to report sales for August, and the manufacturer posted its 53rd straight month of year-over-year sales gains. Chrysler sold 198,379 units, the company’s best August sales since 2002 and a 20% gain from last year. Trucks were the most popular models for Chrysler, with Jeep and Ram pickups both posting huge months. Jeep had its best August ever while Ram pickup trucks had their best August since 2003.

Ford , meanwhile, sold a total of 222,174 units in August, a slight uptick from last year and the company’s best August in eight years. Multiple segments performed well for Ford, with the mid-size Ford Fusion posting its best August and year-to-date sales since 2005 and the Ford Escape SUV postings its best numbers ever for August and for the year-to-date. Explorers and F-Series pickups also sold well.

Which brings us to GM . Overall, GM sold 272,423 cars in August, a 1% decline from a year ago. Retail sales — cars sold directly to the consumer — were down 4%, with some of that being made up for by a 9% bump in fleet sales. The bright spots for GM were in trucks and SUVs. Large SUV sales were up 38%, while the GMC Sierra and Chevrolet Silverado pickup trucks increased sales by 10% and 13% respectively.

Stephen Brown, an analyst at Fitch Ratings, said he doesn’t think GM’s problems are related to their ongoing recall scandal, instead calling it a “mix issue.” While GM continues to sell trucks, cars, especially Cadillacs, have floundered.

Foreign automakers also poster earnings today, with some seeing big jumps from a year ago. Nissan sold 134,388 units, an 11.5% jump from 2013. Toyota sold 246,100, a 10% increase. Volkswagen, though didn’t have as sunny a month. The German company sold 35,181 units in August, down from 40,342 the year before.

Brown noted that the reason sales continue to creep up is an improving economy and increasing access to low-rate financing for consumers.

Source: FORTUNE