Domestic automakers fare well in August sales, Japanese struggle

Overall, new car sales in the U.S. for the month of August saw a 7.5 percent improvement over the same month in 2010. Japanese automakers, such as Toyota and Honda, experienced declines compared to last year’s numbers, but domestic companies improved substantially, according to The Detroit News. General Motors’ August sales increased 18 percent over last year, keeping it the top-ranked car company.

“Our balanced portfolio of trucks and fuel-efficient vehicles like the Chevrolet Cruze, Chevrolet Equinox and GMC Terrain are helping GM continue to gain market share, which has now increased in seven of the past eight months,” said Don Johnson, vice president, U.S. Sales Operations. “We’re carrying good momentum and we’re cautiously optimistic that we’ll see U.S. economic growth improve in the months ahead.”

Ford had the second best month for new car sales, rising 11.1 percent from August 2010. The Detroit News reports that Chrysler Group’s sales improved by an impressive 30.6 percent due to high demand for Jeep and Dodge trucks.

Toyota held strong at third place, in spite of sales for August being 12.7 percent lower than last year’s numbers. Honda dropped 24.3 percent, taking the biggest hit among Japanese automakers.

The rise in new car sales can spell good things for people who are looking to buy a used car with a bad credit car loan, as more new sales may bring down the price of used vehicles.