Sunday
December
21
2014
7:51 am
Weather

  Home
  Local News
  State / National / World
  Sports
  Opinion / Letters
  Business
  Arts / Entertainment
  Lifestyle
  Obituaries
  Calendar
  Submit Event
  Comics / Games
  Classifieds
  DJ Designers
  Archives
  Advertise With Us
  About Us
 
 
 
 
US auto sales sizzle in July, helped by discounts
August 01, 2014, 05:00 AM The Associated Press

DETROIT — Big discounts helped keep U.S. auto sales sizzling in July.

General Motors, Ford, Nissan and Chrysler all reported big gains as the major automakers reported July sales Friday.

Industry sales were expected to rise 5 percent to 1.4 million, according to J.D. Power and Associates. That would make it the best July for the industry since 2006.

Generous summer discounts helped boost sales, said Jesse Toprak, the chief analyst at the car shopping site Cars.com. Toprak said the average price buyers paid fell 4 percent in July, while incentives were up 8 percent — or $216 per vehicle — over last July.

Automakers typically use summer discounts to clear out their lots before vehicles from the new model year start arriving in the fall.

According to Toprak, incentives averaged $2,774 per vehicle, their highest level since August 2010. He said Ford, Hyundai, Kia, Toyota and Volkswagen boosted incentives the most.

Chrysler's U.S. sales jumped 20 percent for the month on strong demand for the Ram pickup, while Ford's were up 10 percent on big gains for the Escape and Explorer SUVs.

GM's sales rose 9 percent on strong demand for its new large SUVs.

Nissan's sales rose 11 percent. Sales of the electric Leaf increased 62 percent to 3,019, a record July for the car. The car went on sale in 2010.

 

 

Tags: percent, sales, incentives, discounts, toprak,


Other stories from today:

House GOP weighs new border bill to break logjam
62 killed in Gaza; Israeli soldier feared captured
WHO: Ebola moving faster than control efforts
 

 
Print this Page Print this Page  |  Bookmark and Share
<< Back
 
  


 
 
 
Daily Journal Quick Poll
 
What's your favorite part of this time of year?

Getting together with friends and family
Holiday parties
Getting time away from work
The fact I don't have to make a New Year's resolution yet

 

 
 
 
 
 
 
 
 
  
 
  
 
©2014 San Mateo Daily Journal
Redwood City newspaper