U.S. Car Sales Soar to a 17.8 Million Annual Rate

Deliveries of new cars and light trucks in the American market surged to an annualized rate of 17.8 million units, according to Autodata Inc. It was the highest monthly rate in 10 years and the best August since 2003.

Actual volume slipped about 11,000 units to 1.58 million vehicles, mainly because of this year's relatively late Labor Day. Total sales for January-August were 11.61 million, up 4%.

Light trucks, propelled by ever-growing demand for crossovers, continue to dominate the U.S. market. Truck deliveries grew 9% to 889,400 units in August, according to Autodata. New-car deliveries plunged 10% to 688,000.

August results for domestic brands were mixed last month. General Motors posted a 1% decline to 270,500 sales, as a 25% drop in car sales overwhelmed a 13% gain for trucks. Ford's volume rose 6% to 233,900 units, with a 12% gain for trucks offsetting a 7% decline for cars. Similarly, Chrysler advanced 2% to 198,200 vehicles on 4% stronger truck sales, which offset an 8% drop for cars.

Sales by Asian brands shrank 3% to 735,100 units in August, dragged down by declines for Toyota (-9% to 224,400), Honda (-7% to 155,500), Nissan (-1% to 133,400) and Mazda (-4% to 29,900). Asian companies reporting strong sales for the month included Hyundai (+3% to 72,000), Kia (+8% to 58,900) and Subaru (+5% to 52,700).

August sales by European marques increased 2% to 137,800 units, in spite of an 8% drop to 32,300 for struggling segment leader Volkswagen. Most luxury brands improved, led by Mercedes-Benz (+6% to 30,600 units), BMW (+2% to 27,800) and Audi (+10% to 18,800), all three of which reported record results for the month.