US car sales sizzle in July

Written By Unknown on Jumat, 01 Agustus 2014 | 22.24

BIG discounts helped keep US auto sales sizzling in July.

GENERAL Motors, Ford, Nissan and Chrysler all reported big gains as the major carmakers reported July sales on Friday.

Industry sales were expected to rise five per cent to 1.4 million, according to J.D. Power and Associates. That would make it the best July for the industry since 2006.Generous summer discounts helped boost sales, said Jesse Toprak, the chief analyst at the car shopping site Cars.com.Toprak said the average price buyers paid fell four per cent in July, while incentives were up eight per cent - or $US216 ($A233) per vehicle - over last July.Carmakers typically use summer discounts to clear out their lots before vehicles from the new model year start arriving in the fall.According to Toprak, incentives averaged $US2,774 per vehicle, their highest level since August 2010. He said Ford, Hyundai, Kia, Toyota and Volkswagen boosted incentives the most.Chrysler's US sales jumped 20 per cent for the month on strong demand for the Ram pickup, while Ford's were up 10 per cent on big gains for the Escape and Explorer SUVs.GM's sales rose nine per cent on strong demand for its new large SUVs.Nissan's sales rose 11 per cent. Sales of the electric Leaf increased 62 per cent to 3,019, a record July for the car. The car went on sale in 2010.

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