Car Dealers Say August Sales Were Miserable

Thursday, September 2nd 2010, 8:48 am
By: News On 6

By Jamie McGriff, The News On 6

TULSA, OKLAHOMA -- August turned out to be a rough month for auto sales in the U.S. and in Oklahoma. 

It was in fact the slowest for any August in 28 years, but even with lower sales numbers, automakers have ways of surviving.

Auto companies are looking at the big picture.

Although consumers are not buying like they would like, rental companies are still helping. Those companies are buying vehicles and a lot of them sometimes. So all is not lost.

Still, when it comes to consumers, they're worried about the economy.

This is one of the major reasons why auto sales are down.

August sales really hit Toyota pretty hard; it's down by a third. Honda is down by more than 32 percent. And Ford sales dropped 11 percent.

  • GM         down 25%
  • Ford       down 11%
  • Toyota   down 30%
  • Honda   down 33%
  • Nissan   down 25%
  • Mazda   down 25%

Industry experts are saying people are not as likely to spend $15,000 to $25,000 or more for a new car. Also you have other factors that are causing consumers to worry. Bloomberg reports that home sales, and the stock market are down. And the nation's unemployment rate remains high. So even, with all of the available discounts, most people are holding on to their money.

But some people are taking a chance and buying vehicles.

The top five selling cars for the month of August according to CBS News.

  1. Ford F-Series
  2. Chevrolet Silverado
  3. Toyota Camry
  4. Honda Civic
  5. Honda Accord

What came as a surprise was Chrysler, sales rose 7 percent. Industry analysts say that's proof that the cash for clunkers deal didn't help Chrysler last year, making the 2010 increase possible.