EmailThe sizable drop in consumer confidence/sentiment in August had little effect on motor vehicle sales. Total domestic motor vehicle sales fell from 9.50 million SAAR in July to 9.39 million SAAR in August.
Domestic vehicle sales increased from 3.93 million SAAR in July to 3.97 million SAAR in August. Domestic truck sales fell from 5.56 million SAAR in July to 5.43 million SAAR in August.
Import sales remained weak following the earthquake and tsunami in Japan. Sales remained at 2.73 million SAAR in August. In the three months leading up to the disaster, import sales averaged 3.14 million SAAR.
Total motor vehicle sales slipped from 12.23 million SAAR in July to 12.12 million SAAR in August.
On a year-over-year basis, sales increased 8% in August after increasing only 1% in July. Year-to-date, sales are up 11% from the same point in 2010.
With the exception of Nissan, which saw a sales increase of 18%, sales for Japanese manufacturers were weak. Sales at Honda (HMC) and Toyota (TM) both saw double digit declines, falling 24% and 13% respectively.
The Big 3 performed admirably in August. Sales at Chrysler Group, General Motors (GM), and Ford (F) increased 28%, 18%, and 11% respectively.
Sales at Hyundai-Kia increased 16% and are up 29% year-to-date.
