Wednesday, September 19, 2012

Car sales rise as buyers of age vehicles replace

By NBC News staff and wire reports
Updated 10: 13 pm EDT: Americans may be worried that the economy is not enough momentum to take, but they are not concerned enough to stop buy new more fuel-efficient cars and trucks to replace ageing vehicles.

Chrysler said on Tuesday that sales increased by 14 percent in August amid strong demand for its RAM pickup truck. It was 29 month as a result of the previous year on sales of Chrysler. Ford's U.S. August sales rose 13 percent to 197.249 vehicles.

And General Motors co jump 10 percent, as higher gasoline prices for sale of GM Cruze and other compact cars inspired announced. Average U.S. gasoline prices have risen about 21 cents per gallon in the last month.

"Higher gas prices in August leads to unusually strong compact car performance across the industry,", said Edmunds analyst Jessica Caldwell.

With 70 percent of the market said reporting so far on Tuesday, to show the US auto industry on the way, sales annually 14.50 million vehicles, j.p. Morgan. By Reuters respondents analysts forecast sales annual rate of 14.20 million cars.

The fact that consumers older cars and trucks replace helped US at a faster rate than the economy as a whole, win car sales in August, said Carsten cancer, head of communication for Volkswagen Group of America.

The US economy grew at a rate of 1.7 percent in the second quarter.

Volkswagen showed its best August US sales development since 1973 cancer said rising 62.5 percent to 41.011 vehicles

Rising gas prices were a factor in the choice of the consumer of vehicles in August, said Ken Czubay, Ford Vice President of U.S. marketing.

"As fuel prices rose again in August, we saw growing number of people in the direction of our fuel-saving vehicles, attracted", said Czubay.

Ford reports record sales for the escape crossover and fusion sedan, and said F-series pickup truck had its best sales month throughout the year. Ford Sales mark by 13.1%, while the Lincoln brand sales 1.7 per cent.

Ford also said that it is to increase production in the fourth quarter by 7 percent on expected higher demand.

Chrysler said that it sold more than 148.000 vehicles in August. It sold more than 25,000 RAM pickups, an increase of 19 percent compared to August of last year and its best for the vehicle in five years.

Auto sales, to offer the an early snapshot of consumer demand, have been one of the bright spots in the American economy, and car companies expect sales with a second-half partially by introducing a slate of new models inspired.

Industry say further also, that the average age of cars on the roads the U.S. - question after 11 years, all time highs - officials.

"While unemployment and consumer protection mood does not support data of US sales yet, we believe that these factors more than offset by solid financing environment, housing demand from the former new car buyers from 2004-08, improved data and high built-up trade-in which their vehicles have" Barclays analyst Brian Johnson in a research note said.

Johnson reiterated that he expects, that the sales takes in the full year to approx. 14.40 million vehicles as demand towards the end of the year ends.

US car sales fell 10.40 million cars in 2009 rose 11.60 million and 12.80 million of the next two years, respectively. The 10-year period car ended in US in the year 2007 average sales almost 17 million annually.

Executives at General Motors, and Ford Motor Co. have also said that housing pickup truck could spur sales improve.

But signs of a continuing economic recovery have mixed been.

Consumer spending in July appeared just increased the biggest increase in five months, and home prices in June for the fifth month. But consumer confidence fell this month to its lowest level in nine months as Americans were more pessimistic about economy and market prospects.

And the deterioration of the European car market has fears of infection in the US market.

Automakers also got creative in sales without recourse based consumer incentives, which have taken up broad-based Vice President Edmunds Jeremy Anwyl said.

"In June, GM was fleet buyers, the 35% who were helped by sales of its total" he said. "In the last month, we heard from BMW a-day demo sale dealer." "There was a flood of single incentive programs on the market, and I suspect that work referred to some manufacturers to help the market with subprime lenders, as well as to expand."

Anwyl, said that such offers not always the monthly incentive followed has rendered figures from research company, but they were nevertheless real cost the automaker.

A further factor new car demand support said the high price of used cars, analyst Alec Gutierrez senior Kelley Blue book. He said "Savvy consumers probably decide to lease an additional $20 or $30 per month to buy or a new car numbers, as a used vehicle with 20,000 miles or more satisfied".

The associated press and Reuters contributed to this report.

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