(WASHINGTON) — Consumers may still be exercising caution when it comes to spending money on some things, but last month’s auto sales showed that new cars isn’t one of them.
August was a hot month for the auto industry: On Tuesday, Ford reported sales rose 13 percent last month; General Motors says sales were up 10 percent on solid gains for Buick, Cadillac and Chevrolet; Chrysler repeated its strong showing, with last month’s sales up 14 percent on the year before; and Volkswagen is making a comeback with its biggest August for sales since 1973.
And while the auto industry is running well ahead of last year, separate reports out Tuesday showed U.S. manufacturing fell for a third straight month, while construction spending took a dive due to a steep drop in home improvement projects.
Copyright 2012 ABC News Radio
Aaron Smith, CNN Newswire
Madison Park, CNN
Kathryn Vasel and Jill Disis, CNN
Stephan Rockefeller, EastIdahoNews.com