July Auto Sales Sizzled to Record Monthly High

Washington DC August 3, 2005; The AIADA newsletter reported that auto sales in the U.S. jumped 16 percent last month to record high sales of 1.8 million vehicles, beating the previous record of 1.73 million vehicles set in October 2001, reported The Detroit News.

The stellar sales month boosted the seasonally-adjusted annualized selling rate to 20.9 million vehicles, the second-best month after October 2001. Employee discount offers from GM, Ford and DaimlerChrysler served as a main catalyst for the bump in sales. CSM Worldwide says that the discounts have helped Detroit automakers pull sales forward to the tune of nearly 200,000 customers who would have bought the vehicles later on in the year.

GM led the pack, selling over 500,000 vehicles, which help it slash inventories to the lowest levels in seven years. Ford posted a 30.5 percent rise in July sales -- and a 58 percent surge in sales of Ford F-Series pickups to 126,905. Chrysler Group sales jumped 27 percent last month.

Despite the sales onslaught from Detroit automakers, International nameplates also enjoyed a record July. Nissan led Japanese automakers with a sales increase of 15 percent, despite lowering incentives slightly from the previous year. Honda’s sales jumped 10.3 percent and Toyota’s sales rose 8.1 percent.