Domestic Auto Sales Surge in July
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iStock Editorial/Thinkstock(NEW YORK) — U.S. auto sales increased in July with the major auto manufacturers reporting heavy sales growth over the last year.
Consumers were attracted to enticing summer sales incentives like rebates and big discounts, the Wall Street Journal reports.
July sales were up for General Motors, Chrysler, Ford and Nissan, which all reported gains compared to the same period last year. GM and Ford sales were up 9.4 percent and 9.5 percent, respectively, over last year. Chrysler sales climbed 20 percent and Nissan sales were up 11.4 percent.
New car sales have steadily improved since the start of the financial crisis in 2008, when the major U.S. automakers took a huge hit in sales. Now the economy, which added more than 200,000 jobs in July, is showing growth and has helped to push demand for new vehicles higher.
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