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Passenger Vehicle Sales Surge 20% in U.S.

Carmakers sold 1.29 million cars and light trucks in America last month compared with 1.07 million units in August 2011, according to Autodata Corp.

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Carmakers sold 1.29 million cars and light trucks in America last month compared with 1.07 million units in August 2011, according to Autodata Corp.

Last month's volume equates to an annual sales rate of 14.5 million vehicles compared with 12.5 million units a year earlier.

Demand for passenger cars soared 28% year over year to 650,600 units last month as U.S. gasoline prices spiked 9% during August. Light truck sales climbed 13% to 634,600 units.

The biggest gains in August came at Honda and Toyota, where demand zoomed 60% to 131,300 vehicles and 46% to 188,500 units, respectively.

American domestic brands boosted volume 12% to 581,600 vehicles, led by Chrysler's 14% gain to 144,300 units. Sales grew 13% to 196,700 units at Ford and 10% to 240,500 units at General Motors.

Asian carmakers hiked volume 28% to 586,200 vehicles. Nissan sales rose 8% to 98,500 units. Hyundai's growth continued to cool from its previous torrid pace with a modest 4% gain to 61,100 units. Affiliate Kia posted a 22% jump to 50,000 units.

European brands increased volume 9% to 117,400 vehicles despite Volkswagen's 63% surge to 41,000 units.

Gardner Business Media - Strategic Business Solutions