Cash for Clunkers Boosts August 2009 Sales
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International Brands Build Market Share
According to numbers
from Autodata Corp., international brands sold 747,689 vehicles in August,
up from 562,988 in July and 683,328 in August 2008. Asian brands accounted
for 52.3 percent of the market, up from 48.7 percent in July 2009, and
Europeans had a 6.9 percent share, down from 7.8 in July. Domestic brands
finished the month with 40.8 percent of the market, down from 43.6 in July.
Top Selling Vehicles
Seven of the top ten selling vehicles in
August were international makes, up from six in July. Thanks in part to
Clunkers sales, the Toyota Camry took the number one spot away from the
Ford F Series pickup for the first time since April 2009. The Hyundai
Elantra also benefited from the program, making the top ten for the first
time, moving from the number 17 spot to number ten. International vehicles
held 11 of the top 20 vehicle slots for the month of August. Eight of the
10 cars that saw the most sales through the Clunkers program were
international makes. Honda and Toyota dominated the Clunkers list with
three vehicles from each brand making the top ten.
Trucks vs. Cars
In July, consumers purchased more
Asian cars than domestic light trucks by a difference of 146,026 units. In
July, the difference was just 58,648 units. This trend, which began in
March of this year, is expected to grow as international vehicle shares
continue to rise. Purchases of small cars, like the Hyundai Accent and Kia
Spectra, accounted for 22.2 percent of auto sales in July, up from 20.5
percent in June
Outlook
In total, manufacturers sold 1,261,977 million
cars in August, exceeding the 1 million mark for the first time since
August 2008. The combination of pent up demand, and the availability of $3,500
and $4,500 government vouchers, brought consumers back to dealerships in
droves. As a result, the industry’s seasonally adjusted sales rate,
or SAAR, spiked from a predicted 11.2 million in July to 14.1 million in
August – the highest rate since May 2008
See below for a complete breakdown of August 2009 monthly and year-to-date sales by international nameplate