U.S. Rebates Gave Auto Sales a Big Lift in August

The federal government’s “cash for clunkers” program made August the best month of the year for new-vehicle sales in the United States, automakers said Tuesday.

But the numbers also show that sales fell dramatically in the last week of the month, after the $3 billion program came to an end. Analysts say the rest of the year could be fairly slow, though sales are expected to be up on a year-over-year basis because the final months of 2008 were so miserable.

The first automaker to report, the Ford Motor Company, said its sales rose 17 percent last month from a year ago, marking the first time since 2006 that Ford’s sales rose in two consecutive months. Its sales rose 2.3 percent in July.

Ford also said its retail market share, which excludes bulk deliveries to businesses and governments, rose for the 10th time in 11 months.

Read Full Article from New York Times

- Posted: 2009-09-01 11:33:50

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