Auto Sales Soar for Detroit Three
(DETROIT) -- Automakers reported a double-digit increase in sales for the month of August, marking the best month of gains in six years.
General Motors Co., Ford Motor Co. and Chrysler Group all noted increases. Sales at GM jumped 14.7 percent, while Ford and Chrysler saw 11.5-percent and 12.2-percent gains, respectively.
Experts attribute low loan interest rates to the increase in sales in addition to increasing consumer confidence.
Top sellers included the Chevy Silverado and Ford's F-series pickup truck.
Ford sales analyst Erich Merkle said the company appears to be hitting its marks, whether its goals set for small cars, sedans or trucks.
"We had a great retail sales month in August. In fact we were up 20 percent year over year, and August retail sales were the best retail sales month for Ford, any month, going back to August 2006," Merkle said.
Joining American auto success, Japanese automaker Toyota claimed the top spot in gains with 22.8-percent growth, as well as the number-one top-selling car.
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