With few exceptions, most automakers saw a significant downturn in August sales compared to August 2009 when the CARS “Cash for Clunkers” program spurred consumer buying.
August sales for Chevrolet, Buick, GMC and Cadillac decreased by a combined 11% compared to last August, a month in which the automotive industry experienced the highest level of sales in 2009 due to the “Cash for Clunkers” stimulus program. Compared to July 2010, sales for GM's brands were down 7%.
Through August, Buick remained the industry's fastest-growing brand with sales up 61% year to date. Cadillac leads the luxury vehicle industry in sales growth this year, with sales 50& higher through August.
Toyota U.S.A. reported August sales this year dropped down more than 31% on a daily selling rate basis compared to last August when Toyota sales also were at their peak under Cash for Clunkers.
“While August results trailed year-ago levels when the CARS program generated significant incremental sales for the brand, we’re pleased with how the month shaped up,” said Don Esmond, senior vice president of automotive operations for Toyota Motor Sales U.S.A. Inc. “Customer loyalty rates have returned to traditional levels as Toyota continues to lead the industry as the No. 1 retail brand year-to-date.”
Even strong-selling Kia Motors America, which promoted its year-to-date sales being up 9.7%, had a 19% decline in August 2010 over August 2009. And hot-selling Hyundai saw an 11% drop.
Ford, too, slipped year over year with a 10.7% decline. And Nissan saw a major slide of 27%. And Volvo Cars of North America LLC reported U.S. sales decreased nearly 24% decrease from August 2009; year-to-date sales are down 12% during the first eight months of 2010.
Of the major U.S. automakers, only Chrysler reported an August-over-August gain — 7%, led by the Town & Country and Jeep brands at 26% and 17% respectively. For Chrysler, August represents the fifth consecutive month of year-over-year sales increases.
Audi said it maintained its 2010 momentum with record August U.S. sales that surpassed the prior August record set in 2003. August 2010 sales of Audi cars and SUVs climbed 14% compared to August 2009, and marked the best monthly sales performance since May of this year.