Car Sales in U.S. Surge 17%

Automakers sold 1.50 million cars and light trucks in the U.S. last month compared with 1.29 million a year earlier. August volume was the highest since May 2007.

Last month's sales equate to an annualized selling rate of 16.09 million vehicles compared with 14.49 million a year earlier and 15.80 million in July. Last month marked the first month since November 2007 that the annual pace topped 16 million units.

In the January-August period, U.S. light vehicle deliveries climbed 10% to 10.65 million units.

Analysts attribute August's soaring volume to 0% financing and other end-of-model-year incentives and continuing strong demand for big pickup trucks and fuel-efficient cars.

Domestic brands boosted sales 13% to 659,600 vehicles last month. Deliveries jumped 15% to 257,800 units at GM and 12% at both Ford and Chrysler to 220,400 and 161,400 units, respectively.

U.S. demand for European marques advanced 13% to 132,500 vehicles in August, despite a 2% slide to 40,300 units by the volume-leading VW brand.

Gainers were led by luxury car brands Mercedes-Benz (+21% to 24,800 vehicles), BMW (+46% to 24,500) and Audi (+22% to 14,000). Mercedes now leads BMW by a cumulative 1,400 units in the race for America's 2013 luxury sales crown.

Also strong were Jaguar (+67% to 1,700 vehicles) and Land Rover (+33% to 4,900). Porsche and Fiat had record-high sales.

U.S. deliveries by Asian automakers surged 21% to 711,000 vehicles in August. Japan's major car companies posted the largest gains: Toyota (+23% to 231,500 units), Honda (+27% to 166,400) and Nissan (+22% to 120,500). Toyota's results included a 23% jump to 29,800 vehicles at its Lexus brand, which was the top-selling luxury marque of the month for the first time since August 2012.

South Korean makes posted smaller increases of 8% to 66,100 units at Hyundai and 4% to 52,000 units at Kia.